The Rise and Fall of Cribspot

How is this different from a property management company (say, Property Force)? The fact that they have a website over just putting out on CraigsList?

> The vision was to provide an end-to-end housing solution, with landlords handing control of their properties over to Cribspot and still earning a passive income. Tenants could use the platform to find properties, tour properties virtually, ask questions about different houses or apartments, schedule property maintenance, or pay rent online.

> “It ended up being a lot more people-intensive than we thought,” Dancer said.

> The new challenges ate into Cribspot’s profit margins. Between furnishing apartments, handling maintenance claims, and even offering a rent guarantee for landlords, Cribspot was spending too much money.

... Who in the hell was advising these guys!?

They wanted to intentionally take on all all the worst parts of being landlords while the actual property owner sat around with a guarantee of being paid?

I get that the idea is that handling these issues in volume may seem like you get good at it and develop processes - but that only works if you happen to see the same exact issues over and over. That’s not the rental industry. Everyone has stories of landlords and vice versa.

It was “more people-intensive” than they had expected huh? I wonder what they were expecting because it seems obvious.