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.
Read the 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.
Less housing, wasted money: study reveals impact of city parking mandates
The study found that 71% of carless households in the United States pay for a parking space they don’t use.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Los Angeles just elected an urban planner as its mayor
Transportation analysts are optimistic that Raman will be more aggressive in addressing transit issues than Bass.
Mamdani’s pied-à-terre tax survives legal challenge
A panel of judges found that the plaintiffs failed to demonstrate injury as a result of New York City's implementation of the tax.
Eastern Nebraska is running out of electricity
Data centers and electrification are straining eastern Nebraska’s grid, throttling economic development.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority