Singapore’s Proptech Marketplace Sees Success with DIY HDB Rental Portal
Properties or real estate might be the largest asset class in the world, but as an industry, it’s known to be traditional and slow-moving. But even this industry is not left behind with the rapid rise of PropTech in reshaping the region’s real estate markets.
Ohmyhome, the leading DIY proptech portal, reaches new milestones with HDB rental segment and shares features instrumental for success. Since its launch in September 2016, Ohmyhome records more than 35,000 users actively chatting and searching on rental. There are currently more than 1,000 non-duplicate, active rental listings on its portal.
The company aims to alleviate the search-related problems faced by tenants and landlords by providing useful features and implementing a direct tenant-to-landlord approach. This proves to be a winning formula, with some landlords receiving requests-to-view on the first day of listing. In addition, the proprietary ShoutOut feature is highly popular, with more than 7,000 listings suggested to tenants thus far.
Ms Race Wong, co-founder and COO of Ohmyhome, shares interesting tips on having a smooth rental and leasing search experience, “It would be useful for landlords to identify their buyer profile, and if they wish to add value and rental income to the property before advertising it, they can renovate it with the buyer profile in mind. For example, a home located near several popular schools will have a better chance of attracting young families. Ultimately, whether or not you have plans for renovation or refurbishment, recognising your buyers will help you better strategize ways to market your property. On the other hand, tenants can avoid home search fatigue by defining your non-negotiable criteria and staying committed to it. Some criteria that may be non-negotiable include budget, location and size. That way, you will not be distracted with property listings that do not conform to your requirements. Ohmyhome’s advanced filtering capabilities will be able to help narrow the search significantly. The ShoutOutTM feature will be useful in promoting your requirements as well.”
L – R: Location & Price Map; ShoutOutTM; Tenant’s User Journey
The property portal simplifies the rental process in four main ways:
- Simplifies the search process with its easy-to-use ‘Location & Price Map’
Ohmyhome’s ‘Location & Price Map’ offers a value-added feature that dynamically maps rental prices by location, making the search effortless and easy. The data visualization effectively simplifies the comparison of listings. The feature is especially helpful for foreigners looking to rent but are unfamiliar with Singapore. Now, they can easily see the listings available within a 2 kilometre radius of their desired locale.
- ‘ShoutOut™’ streamlines suggestions to tenants’ specific demands
A first in the proptech industry, ShoutOut™ allows tenants to post their requirements, and simply await suggestions from home owners. This streamlines the suggestions to tenant’s specific demands, saving them valuable time. The ShoutOut function on Ohmyhome has 7,000 suggestions for rentals.
- Essential information are readily available which facilitates decision making
Lack of knowledge about location, nearby amenities and transportation, and unit information, is a common issue faced by tenants, and the platform directly addresses this problem by readily providing such information on one convenient page. It automatically serves essential information such as floor area, type of apartment, and proximity to public transportation. At a glance, users are equipped with ample knowledge to make an informed decision on their rental.
- ‘Tenant’s Journey’ boasts seamless rental experience with comprehensive bite-sized guides
The “Journey” tab provides users with a detailed yet easily understandable, professional guide on the entire process, including a list of pertinent questions to consider.
