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On the first of the month, a renter got a notification that rent was due. With just a few taps on their phone—and in under 30 seconds— rent was paid securely and sent directly to their landlord’s bank account. Rent App facilitated this transaction, quietly changing the landlord-renter relationship across America.
A New Dawn in Rent Payments
Visible launched Rent App in January and it has gained traction among renters and landlords. With no fees, no weekly limits, and the ability to build a credit history, Rent App addresses long-standing issues in the rental market.
Visible’s CEO, Andrew Borovsky, reflects on the app’s impact: “We saw an opportunity to simplify rent payments and make them more secure. Our goal was to eliminate the stress and hassle associated with traditional methods, and we’re pleased to see how positively the market has responded.”
Functionality and timing are attributes of the app’s success. According to recent statistics, 78% of renters still rely on cash, checks, or money orders to pay rent. This system is not only inconvenient but also risky. Rent App offers a modern, efficient alternative, using industry-standard ACH transfers to ensure secure transactions.
Changing the Real Estate Market
The real estate market has been ready for disruption. As technology evolves, so do consumer expectations. Rent App leads by offering a creative and practical solution.
“Rent App is more than just a payment platform,” Borovsky explains. “It’s a tool for financial empowerment. By allowing renters to build their credit history through timely rent payments, we’re helping them achieve greater financial stability.”
This feature is particularly significant in a market where credit history is crucial for securing loans and other financial products. For many renters, rent is their most significant monthly expense, yet it has traditionally had no impact on their credit score. Rent App changes that, providing a tangible benefit beyond digital payments’ immediate convenience.
What’s Next for Visible?
As Visible continues to grow, its focus remains on enhancing Rent App and expanding its reach, with several exciting product features releasing this fall. These enhancements further streamline the rent payment process and offer users additional benefits.
Visible’s growth trajectory is noteworthy. Experts project that the real estate tech sector in the USA will grow at a CAGR of 12.5% from 2024 to 2025, with expectations that the market value will reach $30.5 billion by the end of 2025. Visible is prepared to adapt to this growth, driven by its inventive strategy and user-centric design.
“We’re constantly listening to feedback from our users,” Borovsky says. “Our team is dedicated to making continuous improvements and ensuring that Rent App remains the best solution for paying or collecting rent.”
The company’s commitment to advancement is evident in its plans to integrate new technologies such as artificial intelligence (AI) and blockchain. These advancements further enhance the Rent App’s security and efficiency.
A New Development in the Rental Market
Rent App changes how rent is paid and this improving the landlord-renter relationship. The app fosters a more positive and transparent interaction between landlords and tenants by removing the friction and stress associated with traditional payment methods.
“Landlords appreciate the reliability and ease of receiving payments directly into their bank accounts,” Borovsky notes. “And renters love the convenience and the ability to build their credit history. It’s a mutually beneficial situation.” As more renters and landlords adopt digital payment solutions, the rental market benefits from increased efficiency, security, and financial empowerment.
Rent App is an invention that addresses real-world problems. It sets a new standard in the real estate tech sector by offering a seamless, secure, and free way to pay and collect rent. As the company continues to grow, experts expect its impact on the market and the lives of renters and landlords alike to be substantial.
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