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Tech start-ups are rapidly arriving in the real estate industry, ready to solve a host of problems and enhance efficiency and productivity. At RealShare Apartments this week, emerging tech companies competed in Apartments Tech Tank—a Shark Tank-style demonstration. Domuso, Cloud Keyz, Smart Rent and One Spot Tech presented to four judges, John Helm, managing director at Real Estate Technology Ventures; Michael Beckerman, CEO of CREtech; Amber Schiada, senior director of research at JLL; Oron Maher, founder at Maher Commercial Realty.

Domuso opened the tech competition with Michael Lightfoot, co-founder and COO of the company. The firm is overhauling the rent collection process with technology, and serving as a lender for renters who need a short-term bridge to pay their rent. Lightfoot explained that collecting rent is a burden for landlords and backend staff, estimating that the cost for a large portfolio could be substantial—especially considering that 80% of rent payments are still made using a check. The firm already grew 400% in the last 12 months, and Lightfoot expects the firm will grow another 400% in the next 12 months.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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