SnapFlat launched three months ago. So far, we are growing fast: more people, more flats, more deals. Despite our crazy weeks, we want to take a step back and tell you why we created SnapFlat.
To make it short: to solve a big problem for you guys. And because it is a good business opportunity.
The Problem for Tenants & Landlords
In Hong Kong you can find anything anywhere at any time. But looking for a flat is bad. Super bad.
Tenants usually view 20-30 flats before finding one. Some even 50 flats. The main reason is because flats online are mostly fake or bad (bad pictures, no description). So you go see stuff without really knowing what it is – and waste your time. Feels bad.
What also feels bad is the 50% commission you pay to agents. In HK$ that is a lot of money. Instead you could fly to Japan. Or buy the iPhone 7. Or enjoy HK’s finest restaurants. But no – you pay for people opening doors. Wow. Thank you.
We are tenants too. We understand how bad this whole process feels.
And landlords? As a tenant, you might think these guys are doing just fine: agents handle everything. And the commission is peanuts for landlords.
In reality, many landlords rely on their rent income. Many of them lose a lot of rent because their flats are vacant for too long. Most of the flats you viewed were empty, right? Well, that is lost money for landlords.
Both sides lose money. As tenant you also lose time. We created SnapFlat to stop that shit.
We made your flat hunt cool & free
We are tenants ourselves. We know how a cool flat hunt should look like: easy & free.
So we built it. Our website saves you time, our agents do not charge you.
With SnapFlat, here is how you find your home:
Browse flats on www.snapflat.hk. All flats have been verified and are available. Each flat has a clear description (appliances, furniture & facilities) and many high-quality pictures. You know what you are going to see in real life.
2. Book your viewing
Want to view the flat? All available time slots are online – just book your viewing in one click. No calls needed.
3. View the flat
The departing tenant (about to move out) will show you around. Like this, you do not view empty flats, you see someone’s home. The tenant also knows the flat & neighborhood better than any agent.
4. Close your deal
Our SnapFlat agents still negotiate for you and handle the tenancy agreement & stamp duty.
This is all for FREE for Tenants (no fee, no commission). Zero. Nada. Null.
Only Landlords pay.
And you know what’s best? SnapFlat also pays you when you move out!
We pay you 15% of a month’s rent. Only thing to do: open your door for the viewings at your preferred time. As soon as someone takes the flat, you get the cash. Check it out: www.snapflat.hk/departing-tenants.
Landlords, we kill your vacancies!
With SnapFlat, no more empty flats.
Thanks to the departing tenant’s help (as we pay him), SnapFlat advertises & shows the flat to people before it gets vacant. Like this, we completely remove vacancies. Landlords do not lose any rent. So far, we have a track record of zero days of vacancies on our deals.
Of course landlords can still work with other agents. We take care of everything. And our price is the standard half-a-month’s rent. Learn more here: www.snapflat.hk/landlords
What’s in it for SnapFlat?
Pretty simple: we get paid 50% of a month’s rent by the Landlord.
We pay the departing tenant 15% of a month’s rent.
We keep 35% to pay our bills and eat.
And we offset the lower revenue/deal by more volume as we are scalable.
At the same time we try to make the property market as easy as all the rest in Hong Kong. And that is a pretty cool challenge 😊