Roofstock is an online marketplace where investors can buy, sell, and trade homes that tenants are living in.
"Roofstock’s platform allows users to invest in the $2 trillion single-family rental home sector in a manner similar to traditional asset classes like stocks," reports Bizjournals.
Prospective buyers don't necessarily visit the home or meet the tenants; instead, they can view 3D walkthroughs of properties on Roofstock's website. Third-party inspectors certify the condition of the property and the performance of the property managers.
They also conduct background checks on current tenants, looking for unpaid rents and verifying that they earned at least three times the rent at the time they signed the lease, according to the San Francisco Chronicle.
Rents in Oakland are estimated to be the fourth highest in the nation; the lack of affordable housing in the area recently led county officials to declare a public health crisis.
Roofstock's co-founder and CEO called the company's model "a win-win-win situation" for buyers, sellers, and tenants.
Investors seem to agree: The company recently raised $20 million in Series B financing, and has raised $33.25 million in equity funding since its founding last year.
FULL STORY: Oakland startup raises $20 million to trade houses like stock
After Brexit, London's Fintech Future Foggy at Best
Over half of Europe’s financial technology "unicorns" are in the London area. The decision to quit the EU is already threatening the ecosystem that allows London to trade within the EU, as well as its status as hub for fintech jobs and technology
Speculators Scoop Up 42% of Oakland, CA Foreclosures
A new report by Oakland, CA nonprofit Urban Strategies Council reveals that a massive surge has occurred in investor-speculator ownership in the city's low-income neighborhoods in the wake of the foreclosure crisis.
Oakland to Add 244 New EV Chargers
Oakland plans to launch its new charging network at eight locations by the end of 2025.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)