NEW YORK, April 11, 2023 — Renew, a state-of-the-art tool that streamlines and automates the whole process of resident renewal to increase NOI, announced its official debut. Rob Hayden and Kevin Murphy, two rental housing industry veterans, founded Renew, which has more than USD 8 million in venture capital and an advisory board of some of the multifamily sector’s most well-known thought leaders.
According to Hayden, CEO of Renew, “it is exciting to finally share with the industry what we have been quietly working on, and polishing, over the last couple of years.” “To guarantee that we have the tools and resources that enable operators to revolutionize how they carry out renewals and view resident retention, we spent the last two years developing our software and strategy in collaboration with some of the industry’s most highly recognized property managers. Apartment managers may seize a priceless chance to keep tenants, generate new revenue, and boost asset value by applying contemporary technology and holistic thinking to this sometimes overlooked phase of the resident lifecycle.”
Upfront Ventures, Goldcrest Capital, Allen & Company LLC, and Walkabout Ventures are some of the significant investors in Renew. Key investors include RXR and senior executives from WC Smith, two organizations that create, own, and manage residential complexes. Holli Beckman, the chief marketing officer at WC Smith; Daryl Smith, the chief marketing officer at KETTLER; Greg Lozinak, a former executive with extensive experience in multifamily investment management; and Jake Holzman, senior vice president of operations at Imagine Homes Management, are all members of Renew’s advisory board.
After a worthwhile pilot project concludes, KETTLER, a key partner of Renew, is adopting the solution throughout its portfolio.
According to Cindy Fisher, president of KETTLER, “Renew has had a dramatically positive influence on our communities.” “We were able to shorten the time it took to make a renewal decision, enhance resident participation throughout the renewal process, and lessen the strain on our onsite workers during our trial project. At the same time, we were able to determine if residents would likely return and acquire useful information about the causes of their departure. Under the context of our centralized approach, we see Renew as a critical product.”
Partner at Upfront Ventures Aditi Maliwal commended Renew’s response to market inefficiency.
Renew, in her opinion, is that kind of company. “We invest at the earliest phases of companies and are constantly searching for organizations that have founder-market fit,” she added. “Rob, Kevin, and the Renew leadership group are industry professionals. We are happy to sponsor this team since they have recognized an enormous potential in the rental housing sector for operators to change renewals, retention, and resident mobility on a national level. The flat market can adopt a brand-new strategy that will produce significant financial gains.
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