Nestpick | Streamlining the relocation rental process
Relocating can be a daunting process and for many tenants finding a suitable place to stay can be even more so, whether it’s a national or international move. The aggregator aims to streamline the rental process to allow tenants to find and rent a furnished temporary property anywhere in the world, safely and without a viewing.
Name of product | Nestpick
Price | There are different pricing models for different targets. If it’s for an online booking platform it’s a pay per click model, which is in same price range as Google Adwords and Facebook ads as major online acquisition channels. The price varies from one country to another and from one type of advertiser to another. For property managers, Nestpick takes fees per successful tenant reference.
Target audience | Online booking platforms, property managers and developers.
Challenge | Founded in 2014, and taken on by Berlin-based incubator, Rocket Internet, Nestpick has seen a period of change and has developed from a booking platform business model to an international meta-search engine, for mid- to long-term furnished apartment rentals. Nestpick’s reason for this change was because the booking platform industry was growing exponentially, and it seemed that every country had a similar booking platform. It was operational intensive and by changing to an aggregator it would base them on top and provide a global presence without needing teams in other countries.
The challenge is the same though, Nestpick aims to help smooth the transition for those wanting to relocate and find appropriate accommodation in a safe way without having to view it, whether that’s for students, experts or business professionals.
Solution | In a world where everyone finds the best flights for their next holiday destination on Skyscanner or their hotel on Trivago, Nestpick aims to be the rental sector’s answer to that. The platform works with more than 80 partners to provide more than 500,000 listings in over 130 cities around the world.
As well as listings, the site offers insight into the areas and what the most suitable housing option is for the type of person looking. For instance, if a student is studying abroad in Berlin, the site will provide areas considered to be student neighbourhoods such as Kreuzberg and Mitte.
For partners of the site, it helps find more suitable tenants for their properties and in the long run prevents any complications or complaints as the initial search has been more suitably tailored.
Nestpick also uses the large amounts of data it gathers to offer insights into the rental market around the world for both consumers and partners. For instance, looking at what factors are important for people when choosing a place to move to such as; access to hospitals, great internet speed, good universities, food and nightlife and how different cities rank in that aspect.
Results | For larger online booking platforms, by having a presence on Nestpick it provides an extra channel for their services to be seen and compared with an increase of traffic for each property listing of around 10%. For smaller property managers that might not much of an online presence, it has the potential to increase the traffic to their listings by 80-90%.
Clients | Online booking platforms using Nestpick include Spotahome, Uniplaces, Airbnb and EasyRoommate. Nestpick are also working with property managers in Europe such as Rexidence, Medici-Living and co-living property managers including Common, and the Collective.