Landlords and property managers spend $4.5 Billion each year on evictions in the United States. A 2016 Harvard study on eviction showed alarming results when it comes to eviction. For example, tenants who live in gentrifying neighborhoods are more likely to be evicted, renters embedded in disadvantaged social networks are more likely to be evicted, while those from advantaged social networks are less likely to be evicted. Also, a tenant’s likelihood of eviction is positively associated with his or her neighborhood’s eviction rate… not the other way around.
Many landlords are under the assumption that if they screen tenants well enough, tighten up on front-end policies, and are strict enough, they will never see their day in landlord-tenant eviction court. That is not the case.
Dwell City Solutions is taking this costly problem head on to mitigate the risk so that landlords and property managers can rent to low- and middle- income tenants with confidence.
We are a web based application that uses predictive analytics to pinpoint the point in time where a tenant will need assistance with paying rent, and send push notifications with resources from community organizations, the gig economy, and re-training resources that match the profile of the tenant so that the they will always have someone supporting them to find a way to pay their rent.
We do this by:
1) we survey the tenant by getting career planning information from the tenant in the beginning of the lease agreement,
2) we use our database to predict when a tenant may desire or need a change in vocation, and
3) we match them with career resources in their neighborhood.
The great part is that this entire process is automated.
We then send de-identified aggregate reporting data back to the landlord to let them know how they compare to other landlords and offer ways that they can improve if necessary.
Based on the surveys that we have conducted with landlords in the City of Philadelphia, we feel that an anonymous third party can gain the needed information to enhance the experience that tenants have with their landlords; therefore, freeing landlords to perform the core duties that they are contracted to perform under the lease agreement.
Our goal is to help landlords realize the potential that low- and middle- income tenants bring to the table. We do this because everyone deserves a place to dwell in the city.