NEW YORK, NY--(Marketwired - Feb 14, 2014) - RentHop, the smarter apartment search marketplace, announced today that renters can now use RentHop's unique algorithm to search for apartments for rent throughout the United States. RentHop has been helping renters, brokers and landlords in New York since 2009 and in Boston and Chicago since 2010.
RentHop is the first and only site to use a dynamic, data-driven approach to ranking and sorting apartment rentals across the country. For each listing, RentHop's proprietary algorithm, the HopScore, analyzes historical and current data regarding the quality and completeness of the listing, the viewing patterns of the listing on RentHop, and the responsiveness of the property manager offering the apartment. The HopScore also compares each apartment listing to all other nearby listings and creates a composite score for the listing. The score captures the listing's objective quality and its quality relative to other nearby listings.
The score changes in real time to reflect the number of times a listing has been viewed. As a listing receives more views that listing's score decreases and it becomes less prominent than listings with higher scores. This solves one of the toughest problems in the marketplace: making sure that users can identify fresh listings.
"Going nationwide is a natural progression for us," said Lee Lin, CEO and Co-Founder of RentHop. "The problems RentHop solves exist everywhere, not just in New York, Chicago and Boston. No matter how big the market, renters need help sorting through all of the choices to find the latest and best apartment deals posted by reputable landlords."
Renters can use RentHop's list-based and map-based search tools to browse RentHop's listings and can use the site's comprehensive search filters to find the best listings for them. RentHop also makes it easy and fast for renters to reach out to brokers and property managers to schedule viewings and manage responses.
According to Lin, "Our data-driven solutions have helped renters, brokers and landlords in three of the US's largest and most diverse rental markets. We're looking forward to helping renters, brokers and landlords all across the country."
Founded in 2009 by Lawrence Zhou and Lee Lin, RentHop simplifies real estate decisions using technology and data analysis. It offers the most sophisticated apartment quality ranking algorithms, helping apartment hunters quickly sift through large pools of inventory to find the most appropriate listings. RentHop has also created the innovative "Appointment On-Demand" system, which allows renters to locate brokers and property managers available to show apartments in real time and to schedule viewings quickly and easily using RentHop's integrated messaging tools.