Pool SEASON
Issue 38 - June 25th, 2021
Need a place to throw a pool party this summer but don’t have a pool? A new startup called Swimply is creating a marketplace for home amenity rentals. Swimply is aiming to be the Airbnb for all things pools, tennis courts, basketball courts, fitness studios and other similar home amenities.
The way it works is pretty straightforward. Swimply connects homeowners that have underutilized backyard spaces and pools with those seeking a way to gather, cool off or exercise, for example. People or families can rent pools by the hour, ranging in price from $15 to $60 per hour (at an average of $45/hour) depending on the amenities.
Revenue grew 4,000% in 2020 and the company recently raised a $10 million dollar round to keep expanding into new markets. They are live in over 125 US markets as of today, and they are in the process of launching “Joyspace” which will add home amenities like basketball courts and tennis courts to their marketplace in addition to the pools.
They have also had spaces rented for experiences such as photo shoots, scuba diving certification, the testing of underwater drones, and even dog parties. The innovation in the real estate space continues to get more and more exciting to me and Swimply is one of those random funny ideas that appeals to the fun side of life and allows people to enjoy the outdoors. It also helps homeowners make a little extra income on the side when they are not enjoying their spaces themselves - WIN/WIN.
Swimply Raises $10 Million Dollars
Newsworthy Links To Share
Blackstone to acquire privately-held single-family home landlord Home Partners of America $6B in cash. Home Partners owns more than 17k houses across the US. The company “has a different business model from peers in single-family rental business. It gives renters the option to buy at a predetermined price at any time with 30 days’ notice. Home Partners limits its acquisition of new houses to those homes identified by people as ones they would possibly like to buy after renting.” (Inman)
Pay rent and earn points towards a down payment on a home with Kairos. Kairos, the company behind the Bilt Mastercard, says it’s partnered with landlords of 2 million rental units to launch Bilt Rewards, “the first rewards program that allows renters to earn points on rent” and “renting-related events” like signing a lease or referring a tenant. (Inman)
Vacation-rental brands are jostling to persuade owners to list homes on their sites as properties are in short supply in certain outdoor destinations. Airbnb Inc. and Expedia Group Inc.’s Vrbo have rolled out features designed to make it easier to become a host. Demand for homes near beaches, national parks and other non-urban areas has been high during the pandemic, but it is accelerating as the economy reopens, vaccinations rise and some companies have announced plans to keep flexible work arrangements in place. (WSJ)
Cabana, a startup that turns vans into bookable mobile hotels, raised $10 million in a Series A round led by Craft Ventures and Goldcrest Capital, the company told Crunchbase News. Cabana helps users plan an end-to-end travel experience. Cabana will create an entire itinerary for the trip, which will be taken in one of Cabana’s vans that include a bedroom, bathroom, and kitchen area. Cabana’s vans include features like a bed, TV, heating and cooling, and a shower. (CrunchBase)
Demand for industrial real estate has surged, pushing average rent ( up 9.7% Y/Y in the Jan-May period. “Prices are rising at a particularly strong rate for logistics space near ports and cities, and for big-box warehouses such as those used in large online fulfillment operations. First-year base rents in Northern New Jersey jumped by 33% Y/Y through May, while those in Southern California’s Inland Empire rose 24.1%.” (WSJ)
Watch this fascinating time-lapse video below of a 10-story apartment building that was built in 28 hours and 45 minutes using pre-fab construction materials…