NYC is a large enough market to warrant many rental websites. General questions that come up for other players in the market are: What is renthop? Where do I find renthop reviews and Zumper NYC reviews? Is Naked Apartments NYC focused only?
These websites are the bad boys in middle school your mom told you to stay away from. The ones that promise you one thing and then do another. This is what we in the real estate world refer to as the “Bait and Switch”. These listing sites require no proof from the brokers that that the listings they upload are real. They allow brokers to upload listings without verifying the address, the price, or even if the inventory actually exists. Brokers upload these listings in order to generate more leads, and more leads bring brokers more deals. Now, this is not to say that every listing is fake, and this is also not a jab at brokers. But the existence of this process is what causes a lot of frustrations on the renters end. Like Streeteasy, Naked Apartments was acquired by giant online real estate company Zillow in 2016 for $13M so in order to keep the gravy train running, the site needs to make sure brokers are getting their leads. The same thing with Renthop where you are going to see 40,000 to 50,000 active listings at any given point (which btw is clearly filled with duplicates and outdated posts). There are not that many distinct listings at any given point in time which means the majority of them are duplicate ads only possible because they are paid for by agents. Zumper in recent years, ventured into the brokerage world with their own Zumper Select program making them direct competitors to other brokerage firms as well as aggregator platforms.
Renthop vs Streeteasy vs Naked Apartments vs Zumper vs NYBits vs Transparentcity
What makes for a great website? Well 1st, the website has to be easy to use and easy to navigate. Nobody wants to waste time browsing through a clanky website or app. Everyone one of these sites provides for a good browser experience with the exception of NYBits which gives you the sense that you're either browsing through the yellow pages or an old college textbook. It's okay but not great. And 2nd, which is arguably more important than the 1st, is everyone wants listings accuracy so we can trust what is being sold. Streeteasy, NY Bits, Transparentcity will provide that more than the others. But then again, it depends on your agenda. As a prospective renter using these websites, you have to ask yourself if you are looking for an apartment or if you are looking for a broker to get you an apartment. Most of these sites will lead you to a broker, which is great if you're in the market for one. Otherwise, it becomes annoying and makes for a not so hot experience.