How to Evaluate a Tenant Screening Vendor, Impact of ROAD to Housing Act to SFR Investors, with Boom Co-founder Rob Whiting

Rob Whiting is the co-founder and CEO of Boom, a proptech company building the future of rental financial services for residential property managers across single-family rental, manufactured housing and multifamily. Boom's three products — Boom Report for rent reporting, Boom Screen for applicant underwriting, and Boom CRM for agentic leasing and self-showing — serve hundreds of thousands of doors and count American Homes 4 Rent and Manage America among their key partners. Before Boom, Rob founded ventures in healthcare and education, including Haystack Health, a telemedicine company, and a financial aid organization focused on FAFSA access. Rob is based in Austin, Texas.

(02:55) Why Rob built Boom
(05:44) The ROAD to Housing Act, explained
(07:11) The 350-home cap & how institutions keep buying
(14:01) Rent reporting as a compliance path
(16:09) What Boom does & who it serves
(17:44) Is screening a commodity? Data quality & hit logic
(21:51) How to evaluate a tenant screening vendor
(25:47) How the ManageAmerica partnership came together
(30:00) Lessons from partnering with AMH Homes
(32:48) Closing the leasing stack gap with Boom CRM
(35:52) Coexisting with Yardi, RealPage, & AppFolio
(37:40) Collaboration Superpower: Daniel Ek

🏙️ Learn more:
-Visit Boom
-Rob Whiting on LinkedIn
-SFR Leasing Operating System Boom Secures $15M Series A Funding

🏙️ In-person Events:
-Finance Forum: NYC | 11/3
-State of Office Forum: NYC | 11/4
-Breakthrough Awards Breakfast | NYC | 12/2
-All upcoming Commercial Observer events

🏙️ Virtual Events:
-AI & Real Estate: You’ve Hired an Alien Superintelligence. Now What?: 11/10

-AI & Innovation Forum: 11/18

🏙️ Connect with Tangent:
-Edward Cohen on LinkedIn
-Zach Aarons on LinkedIn
-Tangent on LinkedIn

Creators and Guests

Host

Edward Cohen

Host & Executive Producer at Tangent

Guest

Rob Whiting

Co-founder of Boom

What is Tangent: Conversations with Real Estate & Tech Innovators?

A podcast community for real estate and tech leaders, investors, operators and innovators.

A new era is upon us. Tangent💚Proptech unites Proptech founders💡, Real Estate investors and operators🏢, Venture Capital investors, urban leaders🏙 and passionate creators🌎 who are improving our communities and cities. Join us to learn how we can solve present day challenges with innovative technology and greater collaboration.

Join Proptech entrepreneur Edward Cohen, to learn about housing innovation, the future of work and climate tech. We examine these themes through interviews and conversations with Proptech CEO's, real estate owners and operators, and venture investors, and how we can leverage tech and collaboration to help solve the housing crisis, figure out the future of work and how to decarbonize the built environment.

If you would like to get your company’s or organization’s mission featured on Tangent, email us at [e-mail].

Stay curious and always be learning! 🤓

Rob Audio Episode
===

Edward: [00:00:00] [00:00:01] Hi,

I'm [00:00:02] Edward Cohen. This is [00:00:03] Tangent, a [00:00:04] Commercial Observer podcast. [00:00:05] [00:00:06] [00:00:07] [00:00:08] [00:00:09] The most significant [00:00:10] piece of federal [00:00:11] housing [00:00:12] legislation in decades just [00:00:13] became law [00:00:14] without a presidential [00:00:15] signature. [00:00:16] the [00:00:17] 21st Century [00:00:18] Renters [00:00:19] Opportunity, Autonomy, and [00:00:20] Democracy to [00:00:21] Housing Act passed [00:00:22] the US House and [00:00:23] Senate with overwhelming [00:00:24] bipartisan [00:00:25] majority. The law [00:00:26] to increase [00:00:27] housing supply and [00:00:28] affordability, among other [00:00:29] things, it [00:00:30] restricts large institutional [00:00:31] investors from [00:00:32] buying more than [00:00:33] 350 single-family [00:00:34] homes, [00:00:35] changes in how [00:00:36] manufactured homes get [00:00:37] financed, and [00:00:38] buried inside it [00:00:39] is a provision that [00:00:40] makes rent reporting [00:00:41] one of the primary [00:00:42] ways a large [00:00:43] landlord can keep [00:00:44] buying homes above the [00:00:45] ownership [00:00:46] cap.

How [00:00:47] far the supply piece [00:00:48] goes depends on [00:00:49] what states and cities do [00:00:50] with it. [00:00:51] Now, in the [00:00:52] US there are [00:00:53] 46 million [00:00:54] renter households. [00:00:55] Every [00:00:56] one of them goes through [00:00:57] a screening process [00:00:58] before they get a lease. [00:00:59] Most of that [00:01:00] screening still [00:01:01] runs on a credit [00:01:02] pool, a background [00:01:03] check, and a [00:01:04] database match that [00:01:05] stops short of [00:01:06] verifying whether an [00:01:07] identity is real.[00:01:08]

Fraud [00:01:09] gets through, qualified [00:01:10] applicants get [00:01:11] flagged, and the operators [00:01:12] running these [00:01:13] decisions have no [00:01:14] single place to see [00:01:15] any of it. [00:01:16]

Our guest [00:01:17] today is Rob [00:01:18] Whiting, co-founder [00:01:19] and CEO of [00:01:20] Boom. [00:01:21] Rob, where does this podcast [00:01:22] find you?

Rob: [00:01:23] Austin, Texas, [00:01:24] where our [00:01:25] company's [00:01:26] based

Edward: Austin and, and [00:01:27] Texas have [00:01:28] certainly been at the [00:01:29] forefront of, housing [00:01:30] production in, in last few [00:01:31] years to the benefit [00:01:32] of, renters and, [00:01:33] some homeowners. [00:01:34] Depends when you bought, depends when you [00:01:35] rented[00:01:36]

Rob: Yeah. I, [00:01:37] I'm, uh, 15, 16, is it now [00:01:38] [00:01:39] 17 years [00:01:40] [00:01:41] post-college, still renting [00:01:42] here, myself, [00:01:43] and actually [00:01:44] looking at a rental right [00:01:45] now, [00:01:46] and it's been [00:01:47] good. there's a lot of supply on the [00:01:48] market, so you can [00:01:49] definitely say [00:01:50] that

Edward: So before we [00:01:51] get into the [00:01:52] Housing Act and [00:01:53] into Boom, your [00:01:54] company, give [00:01:55] us the background. you're [00:01:56] in healthcare, [00:01:57] education and, and now [00:01:58] housing. these are [00:01:59] three pillars of, [00:02:00] society [00:02:01] worldwide. So what [00:02:02] pulled you towards [00:02:03] rentals [00:02:04] specifically?

Rob: you know, I [00:02:05] come from a middle, [00:02:06] middle-class [00:02:07] family. I [00:02:08] was [00:02:09] fortunate [00:02:10] to, after [00:02:11] graduation, go abroad, do some [00:02:12] traveling on a [00:02:13] fellowship, then [00:02:14] eventually did [00:02:15] consulting, and then I wanted to [00:02:16] go tackle [00:02:17] some of these bigger, bigger [00:02:18] problems. I had already done [00:02:19] some of the education [00:02:20] stuff while I was in college.[00:02:21]

Was [00:02:22] interested in both health and [00:02:23] housing. And if you look at the [00:02:24] kinda three big [00:02:25] cost buckets of everyday [00:02:26] Americans, it's those [00:02:27] three, and those are the things [00:02:28] that are, [00:02:29] inflating over time, pretty [00:02:30] significantly, [00:02:31] from a cost perspective, [00:02:32] and makes [00:02:33] up an oversi- [00:02:34] percentage of the budget [00:02:35] of kind of your [00:02:36] everyday Americans.

my [00:02:37] brothers still work in the [00:02:38] service industry, [00:02:39] barback, server, that [00:02:40] sorts of things. [00:02:41] And, kinda [00:02:42] had a very [00:02:43] brief [00:02:44] tenure in the healthcare [00:02:45] space, was very interested [00:02:46] in that, had a couple [00:02:47] things that were moving, [00:02:48] but ultimately [00:02:49] gravitated [00:02:50] towards housing. [00:02:51] boom, really started during [00:02:52] COVID [00:02:53] and, Brothers were [00:02:54] kind of impacted [00:02:55] by, losing [00:02:56] their jobs when all the [00:02:57] restaurants shut down. [00:02:58] Needed a new [00:02:59] job, helped them [00:03:00] edit their resume, had [00:03:01] some spare time, and then I [00:03:02] was like, well, they also needed a more [00:03:03] affordable rental. And [00:03:04] I was like, well, I'm already [00:03:05] looking at the space. I'd [00:03:06] done some, some [00:03:07] work on the [00:03:08] side with a private equity [00:03:09] fund that was building, seeing [00:03:10] one of the major [00:03:11] PMSes out there [00:03:12] for a, significant [00:03:13] investment.[00:03:14]

And so I was kinda [00:03:15] getting familiar with the [00:03:16] space, was already interested [00:03:17] in it, and as I went down that [00:03:18] path with them, I saw a lot [00:03:19] of the, the [00:03:20] problems from [00:03:21] the resident [00:03:22] side. Even though I'm still a [00:03:23] renter myself, I'm probably [00:03:24] more on the Class [00:03:25] A-ish [00:03:26] side. that's kinda really [00:03:27] where, those interests come [00:03:28] from, I think is just [00:03:29] personal [00:03:30] background.

Edward: Certainly no [00:03:31] shame in renting. I mean, [00:03:32] there's, arguably, [00:03:33] and [00:03:34] verifiably better places [00:03:35] to park your money if [00:03:36] you're thinking about [00:03:37] buying a home as [00:03:38] an investment, [00:03:39] right? If you're thinking [00:03:40] of buying a home as [00:03:41] a, lifestyle [00:03:42] choice or because [00:03:43] you need [00:03:44] to prioritize [00:03:45] certain, aspects of your [00:03:46] lifestyle and have [00:03:47] stability, that's [00:03:48] understandable.

But [00:03:49] no shame in renting. [00:03:50] I still rent [00:03:51] there and, and hoping to [00:03:52] rent many more [00:03:53] years

Rob: well, I don't have the [00:03:54] time to go do [00:03:55] housing care [00:03:56] and take care of all those [00:03:57] things. We [00:03:58] actually, I was [00:03:59] traveling, last few [00:04:00] days up to [00:04:01] Michigan, and I [00:04:02] got a text from my [00:04:03] wife, [00:04:04] raccoon upstairs, in the [00:04:05] room, paw prints [00:04:06] all over my desk.

[00:04:07] and then I was like, "Well, [00:04:08] we're moving out in two [00:04:09] weeks. Not really [00:04:10] my problem," And, [00:04:11] eventually we got it out, [00:04:12] for the time being, but, [00:04:13] you know, that's a whole bigger [00:04:14] thing. So [00:04:15] there are some [00:04:16] definite pros to [00:04:17] renting and I'm [00:04:18] definitely, [00:04:19] happy to do it for [00:04:20] now

Edward: For [00:04:21] me, it's just the ultimate [00:04:22] what you own [00:04:23] ends up owning you. [00:04:24] I don't wanna be [00:04:25] dealing with raccoons [00:04:26] myself. [00:04:27] so the 21st [00:04:28] Century Road to [00:04:29] Housing Act just [00:04:30] became law. [00:04:31] and for context, [00:04:32] we're recording this [00:04:33] on July [00:04:34] 17th. for people in this [00:04:35] audience who haven't been [00:04:36] tracking it, uh, as you [00:04:37] have, what is it [00:04:38] and, and why does it [00:04:39] matter?

Rob: [00:04:40] So the Road to Housing [00:04:41] Act is [00:04:42] a [00:04:43] large bill that has a [00:04:44] bunch of stuff in it [00:04:45] related to [00:04:46] different [00:04:47] sub-verticals of [00:04:48] housing. It's something that we've been [00:04:49] tracking for a while. I actually [00:04:50] wrote about it [00:04:51] a while back [00:04:52] when the seven-year limit [00:04:53] was in there. [00:04:54] There was a lot [00:04:55] more [00:04:56] teeth in it, and we [00:04:57] actually... I was in [00:04:58] DC, with [00:04:59] the National Rental [00:05:00] Housing Council, and we actually [00:05:01] visited a few [00:05:02] lawmakers the day that it was [00:05:03] signed, or that it [00:05:04] was, like, basically [00:05:05] re- [00:05:06] revoted on to push [00:05:07] back to [00:05:08] the other [00:05:09] chamber, for the final [00:05:10] review.

[00:05:11] So, we've been close to [00:05:12] it. [00:05:13] Basically, there's a bunch of [00:05:14] provisions in there, [00:05:15] and the broad [00:05:16] idea was to expand [00:05:17] housing access [00:05:18] for your everyday [00:05:19] Americans [00:05:20] and, home ownership [00:05:21] being a big piece of [00:05:22] that. there are a [00:05:23] couple areas [00:05:24] where he had some of the [00:05:25] outsized [00:05:26] publicity, [00:05:27] primarily on the [00:05:28] single family rentals [00:05:29] and, [00:05:30] built-to-rent side, [00:05:31] limitations [00:05:32] on your publicly [00:05:33] traded REITs, like your [00:05:34] Invitation Homes and [00:05:35] American Homes 4 [00:05:36] Rent.

but there was, uh, [00:05:37] stuff related to manufactured [00:05:38] housing and stuff relevant [00:05:39] to us to rent reporting, as [00:05:40] you mentioned. [00:05:41] so a lot, a lot [00:05:42] in there, [00:05:43] and a lot of [00:05:44] nuance that I think has gotten [00:05:45] missed in the [00:05:46] reporting on it that I've seen [00:05:47] so [00:05:48] far.

Edward: So [00:05:49] one of the main [00:05:50] provisions that is [00:05:51] catching the, headlines and, [00:05:52] could impact institutional [00:05:53] investors is that the [00:05:54] bill [00:05:55] restricts, institutional investors [00:05:56] with 300 or [00:05:57] more single-family [00:05:58] homes from buying more. [00:05:59] [00:06:00] So what are the [00:06:01] exemptions here, and how do [00:06:02] operators qualify [00:06:03] to keep buying more [00:06:04] homes?

And, what are your thoughts [00:06:05] around it?[00:06:06]

Rob: Yeah, it's a, it's [00:06:07] a, big piece [00:06:08] of it [00:06:09] because, as you know, [00:06:10] any [00:06:11] major notable [00:06:12] institutional owner [00:06:13] is gonna have more than [00:06:14] 350, your [00:06:15] AMH, your Tricon, [00:06:16] et cetera. [00:06:17] there are [00:06:18] a bunch of [00:06:19] accepted purchases, [00:06:20] what that 350 [00:06:21] limit means is, like, if [00:06:22] you have [00:06:23] 350 homes [00:06:24] today, you're [00:06:25] in scope.

Those count [00:06:26] towards your limit. you [00:06:27] don't have to sell [00:06:28] those or [00:06:29] dispose of them [00:06:30] or anything if you go [00:06:31] over. but they [00:06:32] do count towards your [00:06:33] limit. Now, anything [00:06:34] beyond that that you want to [00:06:35] buy or, [00:06:36] build in ter- in terms of [00:06:37] the portfolio, [00:06:38] those [00:06:39] do fall under [00:06:40] some [00:06:41] requirements, or if you [00:06:42] want to do them [00:06:43] and not have [00:06:44] to, sell them [00:06:45] immediately, you have to get [00:06:46] some accepted, what they [00:06:47] call accepted [00:06:48] purchases, some [00:06:49] exceptions.

[00:06:50] There are a [00:06:51] handful of, [00:06:52] exceptions that go [00:06:53] A through [00:06:54] J. and there's [00:06:55] many ways to [00:06:56] qualify, and there [00:06:57] are two in [00:06:58] particular that I [00:06:59] think are going to be [00:07:00] most [00:07:01] utilized by your, [00:07:02] the ones you [00:07:03] think about that I just [00:07:04] mentioned in the [00:07:05] space that they're gonna [00:07:06] utilize.

Edward: it's [00:07:07] interesting because although [00:07:08] institutional investors [00:07:09] own roughly [00:07:10] 30% of, of [00:07:11] single-family rental homes [00:07:12] nationwide, [00:07:13] certain [00:07:14] cities, I mean, their [00:07:15] presence may top [00:07:16] 20%. [00:07:17] However, that's, not [00:07:18] nearly enough to, [00:07:19] even [00:07:20] cause a dent or i- [00:07:21] impact, rent [00:07:22] pricing or, or that's [00:07:23] what it is being [00:07:24] argued on the [00:07:25] institutional investor side.

[00:07:26] So mean, we don't have a [00:07:27] crystal ball. Do [00:07:28] you think this is gonna [00:07:29] improve [00:07:30] housing affordability [00:07:31] and, housing [00:07:32] supply or, it's [00:07:33] very much TBD [00:07:34] because it depends on the [00:07:35] local government at the end [00:07:36] of the [00:07:37] day?

Rob: Yeah, someone asked [00:07:38] me, how big of a [00:07:39] deal is this? I said it's [00:07:40] kind of a medium to [00:07:41] large. it's [00:07:42] meaningful for sure, [00:07:43] and, uh, medium... There's a bunch [00:07:44] of dimensions of this [00:07:45] bill. For [00:07:46] the [00:07:47] SFRBTR space, what would be a [00:07:48] massive deal? A massive [00:07:49] deal would be [00:07:50] if [00:07:51] they did [00:07:52] limit Like, they did keep the [00:07:53] seven-year limit, they did [00:07:54] keep some hard caps[00:07:55]

Edward: just to clarify, [00:07:56] you mentioned the seven-year [00:07:57] limit a couple of times. For [00:07:58] those who aren't familiar, [00:07:59] tell us about the seven-year [00:08:00] limit

Rob: [00:08:01] Originally, Elizabeth [00:08:02] Warren put a term in there that [00:08:03] said you can't [00:08:04] hold [00:08:05] single family or [00:08:06] built, built-to-rent homes [00:08:07] longer than seven [00:08:08] years, and then you had to sell, [00:08:09] you had to offer them and sell [00:08:10] them up. So [00:08:11] basically, this whole [00:08:12] concept of a, [00:08:13] publicly traded REIT [00:08:14] that you're holding and [00:08:15] renting out, [00:08:16] homes, just [00:08:17] wouldn't exist [00:08:18] effectively

Edward: [00:08:19] interesting. was it, uh, [00:08:20] American Homes for [00:08:21] Rent or Home Partners of [00:08:22] America, didn't one of [00:08:23] them have a model [00:08:24] where that's [00:08:25] exactly what they did though as [00:08:26] part of their, [00:08:27] investment thesis?

Rob: [00:08:28] I believe it was Home [00:08:29] Partners of America [00:08:30] was the same, like a [00:08:31] home ownership, path to [00:08:32] home ownership [00:08:33] piece. the path to home [00:08:34] ownership thing is, [00:08:35] there's Divvy Homes [00:08:36] who we, used to [00:08:37] w- work with, now work with [00:08:38] Maimon. this [00:08:39] model has a bunch of different [00:08:40] permutations But [00:08:41] at any rate, [00:08:42] there was this [00:08:43] seven-year cap. [00:08:44] That's where that came out. [00:08:45] That was the big talk of [00:08:46] the town at [00:08:47] the IMN [00:08:48] BTR conference, a [00:08:49] few months back, [00:08:50] [00:08:51] and, that did get taken [00:08:52] out. I believe, [00:08:53] most people thought [00:08:54] is this is a bargaining chip [00:08:55] to get other things [00:08:56] in and, the [00:08:57] Elizabeth Warrens of the world [00:08:58] were probably [00:08:59] recognizing this might not be in [00:09:00] there at the end, [00:09:01] but as a point of [00:09:02] leverage for, getting [00:09:03] this through with some other [00:09:04] terms.

but [00:09:05] going back [00:09:06] to So [00:09:07] th- there's a bunch of different, what they [00:09:08] call accepted [00:09:09] purchases, this is if you [00:09:10] read into the bill, there's [00:09:11] section [00:09:12] 1001. [00:09:13] It basically [00:09:14] says, yeah, you got the [00:09:15] 350 cap, [00:09:16] but you [00:09:17] can buy more beyond [00:09:18] that, and you can still have [00:09:19] more [00:09:20] if these homes [00:09:21] fall into one [00:09:22] of, I don't know, it's [00:09:23] like, nine, whatever A [00:09:24] through J [00:09:25] totals up to, with [00:09:26] nine exceptions.[00:09:27]

And [00:09:28] the two that I think are gonna [00:09:29] be most [00:09:30] utilized are for new [00:09:31] construction is, [00:09:32] accepted purchase B, [00:09:33] which you look at this, it [00:09:34] basically says any new [00:09:35] construction, [00:09:36] hey, we wanna [00:09:37] encourage new [00:09:38] construction, so basically any new [00:09:39] construction, we're good [00:09:40] with. And [00:09:41] so that is a [00:09:42] core model [00:09:43] of the, [00:09:44] Tricons, First [00:09:45] Keys, AMHs, [00:09:46] those types of big [00:09:47] vertically integrated [00:09:48] players is it's not [00:09:49] all of it, but [00:09:50] building new, [00:09:51] BTR communities is [00:09:52] a, piece.

[00:09:53] Those are accepted, [00:09:54] out.

Edward: Not [00:09:55] multifamily

Rob: So the whole [00:09:56] thing doesn't apply to [00:09:57] multifamily, and it [00:09:58] also, this, 350 [00:09:59] cap doesn't apply to [00:10:00] multifamily, it [00:10:01] doesn't apply to manufactured [00:10:02] housing. it's [00:10:03] explicitly single [00:10:04] family, this [00:10:05] SFR, BTR [00:10:06] space.

the other [00:10:07] part is existing [00:10:08] home acquisition, which is, [00:10:09] I think, the bigger [00:10:10] piece there are [00:10:11] some places, like you [00:10:12] mentioned, 20%. I think [00:10:13] it's like there's Jacksonville, [00:10:14] Florida, my [00:10:15] hometown. there's [00:10:16] Atlanta, s- [00:10:17] Phoenix. you know, your Sun [00:10:18] Belt markets [00:10:19] where [00:10:20] these companies do [00:10:21] make up a larger [00:10:22] percentage. [00:10:23] I'm not an [00:10:24] economist. I spend [00:10:25] time, my time worrying about [00:10:26] different types of [00:10:27] problems than how does [00:10:28] this impact, [00:10:29] pricing and [00:10:30] when...

I think it [00:10:31] also matters when a [00:10:32] new home goes on the market, [00:10:33] who's bidding, right? It's [00:10:34] not just, like, who [00:10:35] owns the homes. I actually think [00:10:36] of who has the bidding power [00:10:37] and who's putting those [00:10:38] bids. so I don't know. I'm, I'm [00:10:39] not gonna be an [00:10:40] expert there, but [00:10:41] I do think these, [00:10:42] verticalized [00:10:43] players, they have [00:10:44] two things.

They're building new [00:10:45] stuff, and they're [00:10:46] buying stuff, and the build [00:10:47] new stuff is gonna [00:10:48] be business as [00:10:49] usual, because there was [00:10:50] a accepted purchase [00:10:51] carved out for that. That's point [00:10:52] B. And the, the [00:10:53] buy new [00:10:54] stuff I think there's a few [00:10:55] ways they can qualify, but [00:10:56] the [00:10:57] most [00:10:58] easiest, so to speak, [00:10:59] is accepted [00:11:00] option, E, [00:11:01] which [00:11:02] basically says [00:11:03] if you [00:11:04] do sell, [00:11:05] you gotta [00:11:06] give the resident at the [00:11:07] time 30 [00:11:08] days to right of [00:11:09] first refusal to buy it.

[00:11:10] That's one [00:11:11] piece. Part B [00:11:12] is you need to offer [00:11:13] positive rent reporting, [00:11:14] which is good for [00:11:15] us. Boom, we offer rent [00:11:16] reporting through our Boom [00:11:17] Report product. [00:11:18] and three [00:11:19] is you [00:11:20] may offer some financ- uh, [00:11:21] support. It says [00:11:22] may, which [00:11:23] my interpretation [00:11:24] of that is, it means it's not [00:11:25] required. [00:11:26] So it effectively [00:11:27] means just offer [00:11:28] rent reporting, and then if [00:11:29] you do sell [00:11:30] it, make it available to [00:11:31] the renter to buy at a [00:11:32] fair market price [00:11:33] as the first one who [00:11:34] gets to, see it.[00:11:35]

So, there's [00:11:36] other ways, but they're a bit [00:11:37] more stringent and [00:11:38] have harder [00:11:39] requirements. So [00:11:40] that's what I [00:11:41] expect them to take [00:11:42] advantage [00:11:43] of

Edward: Yeah, so [00:11:44] many [00:11:45] nuances and, key [00:11:46] words in there that [00:11:47] may change the [00:11:48] entire meaning of the [00:11:49] sentence or the provision. [00:11:50] so does this [00:11:51] mean boom [00:11:52] time for [00:11:53] BTR [00:11:54] community developers? or [00:11:55] what do you expect? [00:11:56] Because it seems [00:11:57] like that's [00:11:58] a, key way of adding [00:11:59] new supply and [00:12:00] also not [00:12:01] going over the cap, [00:12:02] legally.

Rob: [00:12:03] I think [00:12:04] maybe is the [00:12:05] answer. the reason I say [00:12:06] that is [00:12:07] already [00:12:08] they could [00:12:09] build, I don't know what the [00:12:10] other pieces in the [00:12:11] bill are around [00:12:12] financing, if there was any [00:12:13] special things that would give [00:12:14] them more of a [00:12:15] propulsion [00:12:16] to [00:12:17] build more stuff.[00:12:18]

[00:12:19] But, they could [00:12:20] already build [00:12:21] stuff before, so, [00:12:22] it may be [00:12:23] neutral. [00:12:24] What it does, and [00:12:25] I do know, and I heard [00:12:26] from others in the [00:12:27] space, is in the [00:12:28] past six to [00:12:29] 12 [00:12:30] months, there [00:12:31] were a lot of projects that [00:12:32] were put on hold [00:12:33] and [00:12:34] waiting for clarity, [00:12:35] and, I [00:12:36] think there's a lag time on [00:12:37] all of this stuff, [00:12:38] so there will probably [00:12:39] still be a few more months [00:12:40] before people get going [00:12:41] again.

But I, I heard [00:12:42] financing [00:12:43] discussions kind of were put on [00:12:44] pause, bill [00:12:45] discussions, then you gotta get the [00:12:46] contractors going. So I think [00:12:47] a lot [00:12:48] of that, [00:12:49] probably there weren't as many [00:12:50] starts on [00:12:51] this new stuff in the [00:12:52] last, call it six to [00:12:53] 12 months, but, uh, [00:12:54] that probably will [00:12:55] restart here. That would be my [00:12:56] guess

Edward: [00:12:57] Mm-hmm. So [00:12:58] you hinted at this [00:12:59] earlier, rent [00:13:00] reporting. rent reporting [00:13:01] is one of the [00:13:02] defined paths to [00:13:03] becoming an [00:13:04] excepted [00:13:05] purchaser under the bill. [00:13:06] So what does that mean [00:13:07] in practice for a [00:13:08] large owner trying [00:13:09] to stay compliant and, [00:13:10] and keep buying [00:13:11] homes?

Rob: So what [00:13:12] that means in practice [00:13:13] is, you [00:13:14] need to [00:13:15] offer rent reporting [00:13:16] to your residents. [00:13:17] It doesn't say you have to [00:13:18] pay for it, [00:13:19] so you can offer it at [00:13:20] a [00:13:21] fee. What it means to [00:13:22] implement it, it means [00:13:23] working with [00:13:24] someone like [00:13:25] us, there are a few [00:13:26] other players, [00:13:27] obviously, [00:13:28] to integrate with your [00:13:29] PMS.

We track your [00:13:30] rent payments, [00:13:31] we verify they were [00:13:32] paid for your [00:13:33] residents, the ones who have [00:13:34] opted in, and [00:13:35] we report them. [00:13:36] Now, optionally, we'll [00:13:37] ledger the charges [00:13:38] if you wanna [00:13:39] charge a couple [00:13:40] bucks and, our cost is [00:13:41] XYZ. [00:13:42] So there is [00:13:43] a, there's an [00:13:44] economic piece to it as [00:13:45] well. Some of these [00:13:46] operators will choose to just [00:13:47] include it as part [00:13:48] of the residency.

[00:13:49] So there's different [00:13:50] models from an [00:13:51] economic standpoint, but it basically [00:13:52] means tying [00:13:53] up with someone like [00:13:54] us, [00:13:55] and offering it to your [00:13:56] residents, and it's [00:13:57] putting some lease addendum [00:13:58] around it or [00:13:59] a way to [00:14:00] acknowledge that you [00:14:01] were offered it [00:14:02] and/or opt in. [00:14:03] [00:14:04] now I've already had some [00:14:05] operators reach out to [00:14:06] us.

Like in the last [00:14:07] week [00:14:08] alone, we've [00:14:09] had, I think [00:14:10] four [00:14:11] notable na-names that [00:14:12] I knew before reach [00:14:13] out [00:14:14] and ask [00:14:15] to set up a meeting. [00:14:16] some people already had stuff in [00:14:17] place as part of [00:14:18] a resident amenity [00:14:19] offering. [00:14:20] So, there's that, and we [00:14:21] al-already work with a n- [00:14:22] a large number of, [00:14:23] folks, but that's [00:14:24] effectively what it [00:14:25] means.

Edward: [00:14:26] So where, in [00:14:27] the general [00:14:28] picture, where does [00:14:29] PropTech fit into all of [00:14:30] this? Does the [00:14:31] legislation, create [00:14:32] opportunity or [00:14:33] uncertainty for a tech [00:14:34] company servicing rental [00:14:35] housing?

Rob: [00:14:36] it definitely creates [00:14:37] more certainty for [00:14:38] sure. I [00:14:39] think there's [00:14:40] also other [00:14:41] interesting stuff on the manufactured [00:14:42] housing [00:14:43] side. there's a number, and I [00:14:44] don't know, again, I'm, I [00:14:45] didn't study all the [00:14:46] other parts of the bill. [00:14:47] I'm sure there's other [00:14:48] implications for other parts of [00:14:49] the, stack.[00:14:50]

But yeah, from [00:14:51] what I can tell, it [00:14:52] just encourages [00:14:53] more new home [00:14:54] construction, [00:14:55] gives the operators more [00:14:56] clarity. So in [00:14:57] general, I think it's, I think it's [00:14:58] positive

Edward: [00:14:59] Awesome. [00:15:00] let's move on and walk us [00:15:01] through what [00:15:02] Boom is today and, who [00:15:03] it's built [00:15:04] for

Rob: So [00:15:05] what Boom is doing is we're [00:15:06] building [00:15:07] [00:15:08] operational, software [00:15:09] for [00:15:10] residential property [00:15:11] managers, [00:15:12] and, this [00:15:13] is everything [00:15:14] from the, [00:15:15] leasing and [00:15:16] syndication to the [00:15:17] renewals. We don't do all of [00:15:18] that today. Really, [00:15:19] where we focus [00:15:20] is on the [00:15:21] leasing part of the [00:15:22] experience primarily. Like I [00:15:23] said, we do rent [00:15:24] reporting, which is where [00:15:25] we started, and [00:15:26] as we did [00:15:27] that, we got pretty good at [00:15:28] integrations and data [00:15:29] and, reporting's [00:15:30] a thankless job.

It's, [00:15:31] low dollar [00:15:32] value, [00:15:33] very difficult, [00:15:34] easy to mess [00:15:35] up. thousands of [00:15:36] renters with individual [00:15:37] nuances, and you're [00:15:38] integrating with these [00:15:39] old credit bureaus that [00:15:40] have each [00:15:41] different parameters and [00:15:42] constraints [00:15:43] and matching logic. [00:15:44] So we got pretty [00:15:45] good at that, and [00:15:46] then through [00:15:47] that, we launched our [00:15:48] second product, Boom [00:15:49] Screen, which is an [00:15:50] applicant [00:15:51] underwriting [00:15:52] software, for [00:15:53] applications and [00:15:54] screening, right?

So, [00:15:55] residents [00:15:56] find an interest in a [00:15:57] property, [00:15:58] they go to apply. [00:15:59] [00:16:00] Historically, there were some legacy [00:16:01] solutions [00:16:02] that, I would call them [00:16:03] either very [00:16:04] rigid in how they [00:16:05] approach things in [00:16:06] terms of their [00:16:07] criteria, their configuration. [00:16:08] [00:16:09] Over [00:16:10] time, expectations of [00:16:11] product managers have [00:16:12] grown in terms [00:16:13] of what they expect [00:16:14] out of a user [00:16:15] experience, and [00:16:16] portfolios have gotten more [00:16:17] complex.

so we built Boom [00:16:18] Screen. We've been [00:16:19] scaling that [00:16:20] and Boom Report to [00:16:21] hundreds of thousands [00:16:22] of doors, [00:16:23] and now [00:16:24] we've launched our third product, [00:16:25] which is Boom CRM, which is an [00:16:26] [00:16:27] agentic, leasing and [00:16:28] self-showing, [00:16:29] solution that sits, [00:16:30] works well with Boom [00:16:31] Screen and sits on top of [00:16:32] it.

Edward: So [00:16:33] the trifecta, [00:16:34] congratulations on, uh, [00:16:35] launching your, latest [00:16:36] product. tenant [00:16:37] screening, I mean, to [00:16:38] many it sounds like a [00:16:39] commodity. credit [00:16:40] check, background check, you [00:16:41] move on. So [00:16:42] how do you [00:16:43] differentiate yourself?

Rob: [00:16:44] Yeah, it's a great call out, [00:16:45] and I actually, when [00:16:46] we started [00:16:47] looking into [00:16:48] tenant screening, 'cause like I [00:16:49] said, we were doing rent reporting and people [00:16:50] said, "Hey, you're good at sending [00:16:51] data to credit bureaus. Can you [00:16:52] pull data?"[00:16:53]

Edward: Ühüm

Rob: And we said, [00:16:54] "Well, what are you [00:16:55] talking about?" And we learned that [00:16:56] the PMSs had their [00:16:57] own thing.

There were some [00:16:58] startups, and we basically [00:16:59] found, two [00:17:00] classes of [00:17:01] problems. one was [00:17:02] the [00:17:03] [00:17:04] rigidity of the [00:17:05] incumbent or [00:17:06] legacy [00:17:07] solutions on the [00:17:08] workflows that they [00:17:09] enabled. So workflows is [00:17:10] a big one. and [00:17:11] configurability and how [00:17:12] you do that. And then the [00:17:13] second thing that we found [00:17:14] when the, newer [00:17:15] companies out there that [00:17:16] were VC-backed [00:17:17] that came up through [00:17:18] this kind of 2017 to ' [00:17:19] 2018 to 2022 kind of [00:17:20] PropTech [00:17:21] boom, they were wrappers, [00:17:22] right? So they were nice user [00:17:23] experience. You [00:17:24] have your credit criminal [00:17:25] eviction bundle that you [00:17:26] can get from [00:17:27] TransUnion.

the good thing [00:17:28] about that is the credit data's [00:17:29] pretty good. It's pretty [00:17:30] easy to get it all at [00:17:31] one place, [00:17:32] but [00:17:33] the housing court [00:17:34] data, the eviction da- [00:17:35] the criminal data, they're [00:17:36] on top of another [00:17:37] solution, which is on top of another [00:17:38] solution. [00:17:39] So, they were [00:17:40] fairly, these, these [00:17:41] newer solutions out there that [00:17:42] were coming up, were [00:17:43] fairly surface [00:17:44] level.

and the data quality [00:17:45] was much [00:17:46] poorer. and it's not [00:17:47] just as simple as say, "Go [00:17:48] get a background check." [00:17:49] Actually, [00:17:50] there's a lot of hit lo- [00:17:51] we call it hit [00:17:52] logic, which is [00:17:53] Rob [00:17:54] Whiting, 39 years [00:17:55] old in [00:17:56] Travis County, [00:17:57] if I just put - Rob [00:17:58] Whiting, that's how I was [00:17:59] booked when I was arrested [00:18:00] and I was booked in the [00:18:01] jail, there might be another [00:18:02] Rob Whiting.

Uh, [00:18:03] might be a Ro- like [00:18:04] Robert Whiting. What about [00:18:05] Robert Whiting? What [00:18:06] about, there was a [00:18:07] misspelling? Those happen [00:18:08] all the time, [00:18:09] and if you get a [00:18:10] more common name, you can very [00:18:11] easily pull the different records. [00:18:12] So even just in criminal [00:18:13] data alone, [00:18:14] matching logic is [00:18:15] very important and [00:18:16] how specific you are.[00:18:17]

But [00:18:18] the main kind of [00:18:19] thing that I would say [00:18:20] is like we ended [00:18:21] up finding out [00:18:22] that [00:18:23] workflows, data [00:18:24] quality, [00:18:25] depth, those things were [00:18:26] all very important, [00:18:27] and the current [00:18:28] solutions [00:18:29] were push a [00:18:30] button, run a [00:18:31] report, get a [00:18:32] PDF. And that [00:18:33] doesn't enable a [00:18:34] lot of [00:18:35] [00:18:36] fast-moving, centralized [00:18:37] leasing [00:18:38] and depth when [00:18:39] you're, tied down [00:18:40] to a PDF that [00:18:41] the [00:18:42] credit bureau gives you [00:18:43] that's two [00:18:44] layers above the [00:18:45] source data, so to [00:18:46] speak.

That's where we [00:18:47] originally thought as well, [00:18:48] and as we dug in, we [00:18:49] thought it, we found it [00:18:50] was, much more about [00:18:51] workflows and [00:18:52] configurability, data [00:18:53] quality and depth. [00:18:54]

Edward: if, uh, [00:18:55] similar names are an [00:18:56] issue that you can get [00:18:57] entangled with other [00:18:58] people with the same name, you [00:18:59] could, release a [00:19:00] unique baby name [00:19:01] generator, [00:19:02] where [00:19:03] recommended by Boom, [00:19:04] name your baby this [00:19:05] and you will not get [00:19:06] confused with, uh, [00:19:07] other people 'cause [00:19:08] you're the only one with this [00:19:09] name.

Rob: Well, and, [00:19:10] and the story that I would [00:19:11] say about this matching [00:19:12] logic and why it's so [00:19:13] important, [00:19:14] I went to my [00:19:15] school to, my [00:19:16] daughter had a play, this [00:19:17] was her current [00:19:18] elementary school. they [00:19:19] pulled me up, [00:19:20] and [00:19:21] they have a [00:19:22] very, [00:19:23] apparently a very [00:19:24] basic, background check [00:19:25] solution in place.

[00:19:26] input my name. [00:19:27] I think they even put [00:19:28] Rob Whiting, ' [00:19:29] and it pulled up a [00:19:30] sex offender. Big [00:19:31] red bar. I didn't see the [00:19:32] screen. Big s- [00:19:33] big red bar [00:19:34] on the bottom of the [00:19:35] screen. there's a sex [00:19:36] offender database.

It's a [00:19:37] nationwide database. It [00:19:38] has images in [00:19:39] there, generally speaking. [00:19:40] this is what those sex [00:19:41] offender, like, "Hey, a ch- a [00:19:42] sex offender just moved in next [00:19:43] to you." These apps are built [00:19:44] on, some, this [00:19:45] publicly available [00:19:46] data, but their [00:19:47] hit logic [00:19:48] must have been [00:19:49] off, [00:19:50] and there was an image, and the [00:19:51] lady was like, "This [00:19:52] clearly isn't you."

You [00:19:53] know, the, the [00:19:54] grizzled. but there was another [00:19:55] guy in that [00:19:56] example that I origin- I [00:19:57] referred to [00:19:58] originally. that [00:19:59] happens, and [00:20:00] when that happens, you [00:20:01] reject someone for [00:20:02] housing. now that [00:20:03] housing was taken by someone [00:20:04] else, it's off the [00:20:05] market. You've [00:20:06] curtailed someone's ability [00:20:07] to access [00:20:08] housing.

this is serious [00:20:09] stuff. And, actually [00:20:10] one of our data [00:20:11] vendors, we asked them, [00:20:12] like, "How are we [00:20:13] doing? how type A [00:20:14] detail-oriented, what [00:20:15] are our processes?" They're like, [00:20:16] "You and this other [00:20:17] company [00:20:18] are our best vendors. We always [00:20:19] bring you guys up as, like, [00:20:20] you've got your [00:20:21] processes together."

[00:20:22] And actually, one of the [00:20:23] PMSs they used to work [00:20:24] with, they fired the [00:20:25] PMS, one of their biggest [00:20:26] accounts, [00:20:27] because they were so [00:20:28] cavalier with how they handled the [00:20:29] data. [00:20:30] Because they could get [00:20:31] pulled into [00:20:32] lawsuits. Even though [00:20:33] they were just an [00:20:34] infrastructure layer, they're [00:20:35] still exposed as well.

[00:20:36] So, we act as [00:20:37] the CRA, the consumer [00:20:38] reporting agency. We put our [00:20:39] name, our stamp [00:20:40] on these reports, [00:20:41] so we have to [00:20:42] have our stuff [00:20:43] together. it's a tedious [00:20:44] business, and, there's a [00:20:45] lot of downside risk [00:20:46] there when you [00:20:47] take on that.

Edward: [00:20:48] when you're an [00:20:49] operator of any, [00:20:50] rental housing, whether it is [00:20:51] single-family [00:20:52] rentals or manufactured [00:20:53] housing or [00:20:54] even multifamily, how [00:20:55] can operators [00:20:56] know or, [00:20:57] what are the right [00:20:58] questions you would [00:20:59] suggest they ask [00:21:00] when reviewing [00:21:01] what credit [00:21:02] reporting [00:21:03] tool to [00:21:04] implement, to partner with, [00:21:05] to understand [00:21:06] whether it is [00:21:07] just a wrapper, like you said, [00:21:08] or whether you [00:21:09] actually have your stuff [00:21:10] together and you're not, [00:21:11] missing qualified [00:21:12] renters or letting [00:21:13] fraudulent renters go [00:21:14] through?

Rob: Yeah, I [00:21:15] would say the [00:21:16] things that I would ask [00:21:17] about, I if I was on a [00:21:18] demo with a [00:21:19] screening co- like an [00:21:20] underwriting [00:21:21] company, it would really [00:21:22] depend on the size [00:21:23] of myself as of [00:21:24] my portfolio [00:21:25] of the questions I [00:21:26] asked, [00:21:27] and it would also [00:21:28] depend on the asset [00:21:29] class.

There are certain [00:21:30] questions that I would ask in [00:21:31] manufactured housing that I would [00:21:32] not ask in single [00:21:33] family versus also [00:21:34] multifamily I would ask [00:21:35] certain things. [00:21:36] So one [00:21:37] category, the [00:21:38] obvious one, is [00:21:39] integrations. Like, do you integrate with [00:21:40] my PMS? What does [00:21:41] that mean? Do you [00:21:42] push and pull data? Do [00:21:43] you push only on [00:21:44] decision?

Do [00:21:45] you push on when [00:21:46] they submit the [00:21:47] application? Do you update [00:21:48] every step of the [00:21:49] way? There's a [00:21:50] ton of [00:21:51] nuance there. What does [00:21:52] that look like from a [00:21:53] data perspective? [00:21:54] What does it look like from an applicant [00:21:55] perspective, the [00:21:56] ingress or the entry [00:21:57] point into the [00:21:58] application, [00:21:59] what does that look like?

So that [00:22:00] integration, [00:22:01] and what [00:22:02] user experience that [00:22:03] enables both from the PM and [00:22:04] the resident side is [00:22:05] important. second bucket that I [00:22:06] would be asking about [00:22:07] is [00:22:08] configurability. hey, I've got [00:22:09] different [00:22:10] parts of my portfolio [00:22:11] that fall into [00:22:12] different asset classes, [00:22:13] or I've got an owner who [00:22:14] wants to do something very [00:22:15] nuanced, but he [00:22:16] owns, you know, [00:22:17] X number of properties and [00:22:18] the rest of my portfolio does [00:22:19] something different.

I've [00:22:20] got someone in new [00:22:21] geography. How do you [00:22:22] handle [00:22:23] multi-geography? If [00:22:24] a new regulation [00:22:25] just came up or it would [00:22:26] come up, how [00:22:27] can I carve [00:22:28] out and handle [00:22:29] that just for [00:22:30] that section? [00:22:31] So this kind [00:22:32] of [00:22:33] configurability is a big area [00:22:34] that I would talk about. [00:22:35] And then I would [00:22:36] ask about, I [00:22:37] would go deep on [00:22:38] data, definitely [00:22:39] on the, [00:22:40] what I call passive [00:22:41] reports, credit, [00:22:42] criminal eviction.

[00:22:43] Things that I would ask [00:22:44] are some of the things I just [00:22:45] mentioned. where do you guys get [00:22:46] your criminal data from? [00:22:47] And if they can't answer [00:22:48] or they answer [00:22:49] someone that's two layers [00:22:50] above the, the data, [00:22:51] then you [00:22:52] know the [00:22:53] response time to get a dispute [00:22:54] resolved is gonna be longer. [00:22:55] You know that [00:22:56] they're gonna sort less [00:22:57] data, 'cause once you go a few [00:22:58] layers up, everyone gets a [00:22:59] little bit more [00:23:00] conservative the higher up in the [00:23:01] stack.

then I [00:23:02] would ask about the, [00:23:03] [00:23:04] consumer-driven, uh, verifications. [00:23:05] Your identity [00:23:06] verification, your income verification. [00:23:07] It's not as simple as say, do you [00:23:08] have [00:23:09] income verification? [00:23:10] Well, yes, but there's a [00:23:11] lot of nuance to that. [00:23:12] Do you verify [00:23:13] documents? [00:23:14] Yes, but which [00:23:15] ones?

Do you ver- [00:23:16] benefit letters, offer [00:23:17] letters? Do you do it [00:23:18] in the moment, like when [00:23:19] they're going through the [00:23:20] flow, and can you do it real [00:23:21] time in seconds? [00:23:22] Or do you do [00:23:23] it asynchronously after they check [00:23:24] out, which [00:23:25] how do you handle [00:23:26] blurry docs? How do you [00:23:27] handle locked [00:23:28] PDFs, password [00:23:29] protected? Then you're [00:23:30] document chasing again.

[00:23:31] I would bucket into [00:23:32] integrations and [00:23:33] how that impacts user [00:23:34] experience, [00:23:35] configurability, [00:23:36] data [00:23:37] verifications. There's a whole [00:23:38] compliance [00:23:39] question, like are [00:23:40] you set up to [00:23:41] protect us? If you're [00:23:42] larger, you're gonna care about those [00:23:43] things. If you're smaller, [00:23:44] you know, you're kind of shooting [00:23:45] from the hip a little more.

[00:23:46] and then how do [00:23:47] teams collaborate is [00:23:48] probably the last bucket, [00:23:49] is how [00:23:50] do we work [00:23:51] through [00:23:52] applications, I think, with AI [00:23:53] [00:23:54] and how is a [00:23:55] company enabled [00:23:56] to embrace [00:23:57] that? [00:23:58] Really what, with leasing [00:23:59] and you asked, like [00:24:00] isn't screening a [00:24:01] commodity? I kind [00:24:02] of brought it back to [00:24:03] workflows, but I think [00:24:04] AI is gonna [00:24:05] enable so much [00:24:06] and, [00:24:07] I mean, obviously Claude has [00:24:08] shown us what [00:24:09] workflows can look [00:24:10] like.

[00:24:11] But, I predicted [00:24:12] actually, I'd say [00:24:13] last year the, the [00:24:14] buzzword was fraud. This year [00:24:15] I I think, and I [00:24:16] pr- this is what I said at [00:24:17] Christmas. We do a [00:24:18] Christmas dinner for the team, and I [00:24:19] said, "Next year it's gonna [00:24:20] be workflows. I think [00:24:21] that's gonna be the [00:24:22] buzzword." I think [00:24:23] it kind of is, and I [00:24:24] think Claude and [00:24:25] AI has enabled [00:24:26] that.

and people [00:24:27] are talking about [00:24:28] connectivity to your stack. [00:24:29] So I [00:24:30] would ask, like how does your [00:24:31] team collaborate? How do you [00:24:32] enable AI [00:24:33] to, parallel [00:24:34] thread most of [00:24:35] these verifications? [00:24:36] it's a ping pong with [00:24:37] the applicant, right? The [00:24:38] back and forth. So, [00:24:39] yeah, those are, I a [00:24:40] host of buckets of [00:24:41] areas that I would, talk [00:24:42] about.

Edward: Wow, [00:24:43] that was, an entire [00:24:44] crash course, thank you [00:24:45] for that, [00:24:46] so you, talk [00:24:47] about your, you know, your [00:24:48] strategic partnerships. You have an [00:24:49] exclusive partnership [00:24:50] with Manage America, [00:24:51] the dominant property [00:24:52] management software in [00:24:53] manufactured housing.

[00:24:54] So how did that [00:24:55] come together and, and [00:24:56] what changes for [00:24:57] [00:24:58] operators?

Rob: It's a funny story. [00:24:59] We were actually [00:25:00] at [00:25:01] our first [00:25:02] conference we ever went [00:25:03] to, which [00:25:04] was MHI Congress, [00:25:05] which is the [00:25:06] largest, and there aren't [00:25:07] many, manufactured [00:25:08] housing [00:25:09] conferences, uh, out [00:25:10] there. we were [00:25:11] unboxing our booth. We'd [00:25:12] never even opened [00:25:13] this booth.

We just got it. [00:25:14] We were like, "What is it gonna look [00:25:15] like? We don't even know." So we [00:25:16] set it up, we're [00:25:17] sweating, we're setting up the [00:25:18] booth. [00:25:19] We're all ready for the next [00:25:20] day, and the next [00:25:21] day it was [00:25:22] amazing. cause we had [00:25:23] this bright pink booth, and [00:25:24] everyone, not a [00:25:25] lot of new stuff comes [00:25:26] through manufactured housing, [00:25:27] so everyone was interested [00:25:28] to hear [00:25:29] what we were talking about.

And it [00:25:30] didn't hurt that we were giving [00:25:31] away poker chips, 'cause we were [00:25:32] in Las Vegas, so we were like, [00:25:33] "Here's $5." [00:25:34] And Manage [00:25:35] America came over [00:25:36] and they introduced [00:25:37] themselves, this is someone [00:25:38] on their product team, [00:25:39] and they said, [00:25:40] "Hey, we're like, new [00:25:41] leadership," they had new [00:25:42] private equity [00:25:43] backing.

We're gonna be changing [00:25:44] some things, and we're [00:25:45] looking to get, you know, we heard [00:25:46] some, some things [00:25:47] about you [00:25:48] guys. We're interested in talking about [00:25:49] rental reporting." cause we [00:25:50] weren't really public. This [00:25:51] was May of [00:25:52] 2024, when [00:25:53] we were [00:25:54] just starting to [00:25:55] publicly talk about, even though [00:25:56] it wasn't on our website, [00:25:57] we were actually [00:25:58] actively selling [00:25:59] Boom screening, our sc- our [00:26:00] [00:26:01] applications, software, [00:26:02] module.

So, they came [00:26:03] over. We said, [00:26:04] "Yeah, let's, let's, chat. [00:26:05] There is some other things that [00:26:06] we're doing as [00:26:07] well." And then we got on a demo, [00:26:08] and they were in [00:26:09] process of [00:26:10] rebuilding, [00:26:11] basically from the ground [00:26:12] up, [00:26:13] their screening [00:26:14] solution. they had a few [00:26:15] vendors picked out for [00:26:16] income, for et [00:26:17] cetera.

we just kind of [00:26:18] showed them how they [00:26:19] could co-build with us [00:26:20] and get the best [00:26:21] of, [00:26:22] one, [00:26:23] compliance coverage, take [00:26:24] that risk off their [00:26:25] books, where, hey, [00:26:26] this is an [00:26:27] arms-length but int- [00:26:28] fully integrated [00:26:29] [00:26:30] solution. economics, [00:26:31] like the scale that they [00:26:32] brought, we were [00:26:33] fairly new, [00:26:34] but we had [00:26:35] pretty good product, [00:26:36] taste and [00:26:37] approach, [00:26:38] and the product [00:26:39] velocity of just, like, [00:26:40] how quickly we can, [00:26:41] build, and we're [00:26:42] laser focused on this, [00:26:43] and this would free up their time to [00:26:44] do other [00:26:45] things.

there was a bake-off with [00:26:46] a handful of other [00:26:47] vendors, that [00:26:48] they were circulating [00:26:49] us to their [00:26:50] client base. "What do you think about [00:26:51] Boom? What do you think about this [00:26:52] one?" And kind of we're doing a [00:26:53] little bit of a [00:26:54] mini roadshow. [00:26:55] We spun up a sandbox [00:26:56] for them, a branded [00:26:57] sandbox, [00:26:58] and, before we went live with [00:26:59] anyone, I think we [00:27:00] had, a [00:27:01] roadmap that was [00:27:02] close to a year [00:27:03] of [00:27:04] co-building. I mean, it [00:27:05] mo- it had to be [00:27:06] close to a year, [00:27:07] with [00:27:08] hundreds of items [00:27:09] of things that they [00:27:10] wanted. So it was [00:27:11] fantastic because we got [00:27:12] this, I'd call it like [00:27:13] a meta, , [00:27:14] feedback, point [00:27:15] from them [00:27:16] through all of their [00:27:17] customers, [00:27:18] and that really accelerated [00:27:19] us to be [00:27:20] [00:27:21] so just dialed in [00:27:22] for everything [00:27:23] manufactured [00:27:24] housing,

Edward: I love, the [00:27:25] framing of [00:27:26] co-building. the whole [00:27:27] conversation right now, [00:27:28] not only about software but [00:27:29] especially around AI, [00:27:30] is build [00:27:31] versus buy. [00:27:32] And [00:27:33] now [00:27:34] building in-house [00:27:35] is, a lot [00:27:36] more cost [00:27:37] efficient or at least spinning [00:27:38] up, very [00:27:39] basic, [00:27:40] MVP. scaling that is a [00:27:41] whole different [00:27:42] topic [00:27:43] and, I think, uh, [00:27:44] vibe coding [00:27:45] is, the buzzword [00:27:46] of, a year and a half [00:27:47] ago or, or when, but [00:27:48] certainly, [00:27:49] larger owner [00:27:50] operators as well as [00:27:51] the tech providers [00:27:52] are understanding [00:27:53] that, unless we're doing [00:27:54] this together, [00:27:55] like you said, [00:27:56] designing the roadmap [00:27:57] together, uh, having [00:27:58] that feedback loop [00:27:59] established, like [00:28:00] it will be very hard [00:28:01] to, to partner, [00:28:02] to, and to work [00:28:03] together.

Rob: Uh, [00:28:04] 100%. And I think a big [00:28:05] part of it is, [00:28:06] the willingness to, I mean, [00:28:07] number one, to be [00:28:08] willing to do those [00:28:09] cycles. we don't [00:28:10] do a [00:28:11] Palantir-type model. Maybe [00:28:12] we should. We don't, like, [00:28:13] charge for services [00:28:14] of [00:28:15] embedding people. It's [00:28:16] part of making our [00:28:17] partners successful [00:28:18] and it just helps our [00:28:19] product get better.

[00:28:20] but, you know, one of the important things [00:28:21] is, the way we [00:28:22] architected our [00:28:23] platform is [00:28:24] very open and [00:28:25] configurable, and [00:28:26] so it's all [00:28:27] open API [00:28:28] read-write. Anything [00:28:29] you can see in the platform [00:28:30] except for some of, a [00:28:31] few page, like, a few [00:28:32] areas of the [00:28:33] settings are [00:28:34] accessible via [00:28:35] API, can be executed [00:28:36] outside of the platform.

[00:28:37] So, this really [00:28:38] resonates with a lot of [00:28:39] your [00:28:40] more enterprise [00:28:41] operators and [00:28:42] platforms, like your [00:28:43] PMSs, like your Manage [00:28:44] America and your, your big [00:28:45] players [00:28:46] as well, [00:28:47] and, being able to fit [00:28:48] within their existing [00:28:49] stack where [00:28:50] everyone's got a little bit of [00:28:51] some nuance. You know, you get over [00:28:52] a certain scale and [00:28:53] everyone's got a [00:28:54] special thing they do here [00:28:55] or there

Edward: [00:28:56] Yep, yep. [00:28:57] talking about, one of [00:28:58] your most [00:28:59] significant partnerships, [00:29:00] American Homes 4 [00:29:01] Rent. they operate [00:29:02] over [00:29:03] 60,000 single-family [00:29:04] homes across 24 [00:29:05] states. What does [00:29:06] a white label [00:29:07] relationship with a company [00:29:08] that size teach you [00:29:09] about the, the market [00:29:10] needs?

Rob: [00:29:11] Well, we originally [00:29:12] met them, on a [00:29:13] NRHC Shark [00:29:14] Tank, I'd met them [00:29:15] very briefly, [00:29:16] even just like the [00:29:17] day earlier, [00:29:18] but then I was doing this [00:29:19] pitch competition. [00:29:20] I didn't win. But I [00:29:21] think I won in the end. We got to [00:29:22] partner with them, so [00:29:23] which was great.

[00:29:24] cause, Bill Irby, their [00:29:25] CTO, was in [00:29:26] the [00:29:27] judges audience. it kind [00:29:28] of went from there. [00:29:29] Their [00:29:30] needs and where they were [00:29:31] at, they're publicly [00:29:32] traded, so I won't say too much, [00:29:33] but I will say that [00:29:34] they have a [00:29:35] capable technical [00:29:36] team. [00:29:37] Technical teams wanna [00:29:38] build, but [00:29:39] they have a huge roadmap.

[00:29:40] They've got a lot of stuff that they're [00:29:41] doing. they had some [00:29:42] custom stuff [00:29:43] already. They have [00:29:44] their, and you'll see this [00:29:45] on their website, it's [00:29:46] called Let Yourself In. It's [00:29:47] their own self-showing [00:29:48] solution. [00:29:49] And they were [00:29:50] actually in flight [00:29:51] of building [00:29:52] some things around [00:29:53] screening and leasing, [00:29:54] um, kind of similar to Manage [00:29:55] America, where we met them, [00:29:56] where they were like, "We're [00:29:57] actually building something.[00:29:58]

Maybe Boom [00:29:59] can be helpful, [00:30:00] because it looks like an open [00:30:01] platform." [00:30:02] we eventually realized, [00:30:03] like, their big [00:30:04] [00:30:05] requirements, [00:30:06] obviously table stake [00:30:07] stuff, [00:30:08] compliance, [00:30:09] enterprise [00:30:10] readiness, things like that. [00:30:11] Uh, good [00:30:12] data, great [00:30:13] underwriting, [00:30:14] capabilities, which [00:30:15] we've built in and really [00:30:16] sharpened over the last few [00:30:17] year- couple [00:30:18] years.

but [00:30:19] like many of these [00:30:20] scaled operators, [00:30:21] brand [00:30:22] and resident [00:30:23] experience was important. [00:30:24] And so what that [00:30:25] means is, and [00:30:26] fitting into their existing [00:30:27] stack, which they had some cu- [00:30:28] they had a custom touring [00:30:29] solution. [00:30:30] So some of these [00:30:31] bigger operators will [00:30:32] have [00:30:33] authenticated user [00:30:34] experiences 4 Rent has [00:30:35] MyAMH.

[00:30:36] You have a user [00:30:37] account that [00:30:38] sits on top of [00:30:39] their PMS, where [00:30:40] it's a, it's a [00:30:41] layer, and [00:30:42] [00:30:43] they already were [00:30:44] doing self-showing where they were [00:30:45] doing identity [00:30:46] verification. They were [00:30:47] logged into [00:30:48] MyAMH, and [00:30:49] they don't [00:30:50] want the [00:30:51] resident to then have to go [00:30:52] log into Boom, create [00:30:53] another account, [00:30:54] things like that.[00:30:55]

Go into a [00:30:56] separate link [00:30:57] out to another [00:30:58] solution. and [00:30:59] so, you know, we kind of [00:31:00] sketched it out with them, [00:31:01] had a number of, [00:31:02] couple, few [00:31:03] meetings, worked [00:31:04] internally, and we built [00:31:05] an embedded [00:31:06] applicant [00:31:07] experience that was [00:31:08] brandable, so it [00:31:09] could reuse the [00:31:10] identity [00:31:11] verification that was [00:31:12] surfaced, um, in the [00:31:13] touring and [00:31:14] the, the tour [00:31:15] experience.

So, what I [00:31:16] learned was they [00:31:17] want [00:31:18] brand control, [00:31:19] they want [00:31:20] to own the [00:31:21] resident experience, [00:31:22] they want [00:31:23] control of the data, [00:31:24] open API, like [00:31:25] everything needs to be accessible via [00:31:26] API, [00:31:27] and then you need all the [00:31:28] table stake stuff to check the [00:31:29] box, [00:31:30] obviously.

and then it [00:31:31] helps if you got a good [00:31:32] price and your team's, [00:31:33] they've got their own dev team, [00:31:34] but you know, it helps if we're [00:31:35] supplementing with, like [00:31:36] I said, dev [00:31:37] resources that they [00:31:38] get included [00:31:39] in this kind of [00:31:40] co-build model [00:31:41] that we try to do with our [00:31:42] our [00:31:43] partners

Edward: That's [00:31:44] awesome. So, I mean, [00:31:45] you've mentioned, Boom [00:31:46] Screen, Boom [00:31:47] Report, and [00:31:48] now you're coming [00:31:49] out with, Boom [00:31:50] CRM. So [00:31:51] what gap does [00:31:52] the Boom CRM [00:31:53] fill?

Rob: [00:31:54] we're live with Boom [00:31:55] CRM. It's [00:31:56] fantastic. It's our fastest growing [00:31:57] product, [00:31:58] probably because we can sell [00:31:59] into our existing base, [00:32:00] and we've got a lot of [00:32:01] goodwill and good word of [00:32:02] mouth that we [00:32:03] didn't really have when we were [00:32:04] getting Boom Screen off the [00:32:05] ground. [00:32:06] and what Boom [00:32:07] CRM is, [00:32:08] at a high level, [00:32:09] is [00:32:10] self showing [00:32:11] AI [00:32:12] automation and [00:32:13] syndication, auto [00:32:14] response, [00:32:15] omni-channel [00:32:16] inbox.

So [00:32:17] connect your Google account, [00:32:18] your Outlook account. You can [00:32:19] still send emails [00:32:20] directly from your existing email, [00:32:21] and it will link to the [00:32:22] prospect that you're communicating [00:32:23] with, full [00:32:24] visibility [00:32:25] across, your company, [00:32:26] if you go out of office, things [00:32:27] like that. [00:32:28] and then, [00:32:29] leads, [00:32:30] tasks, and then [00:32:31] flowing straight [00:32:32] into [00:32:33] the, applicant [00:32:34] journey.

undergirding [00:32:35] all of that [00:32:36] is, AI, but [00:32:37] then also deterministic [00:32:38] workflows [00:32:39] where agents can be [00:32:40] inserted.

it's [00:32:41] everything you would kind of [00:32:42] expect from a [00:32:43] modern leasing [00:32:44] experience. what we were [00:32:45] trying to do when we were [00:32:46] building it was [00:32:47] kind of leapfrog the [00:32:48] other stuff that was on the [00:32:49] market today.

[00:32:50] better product, [00:32:51] lower price, [00:32:52] use the latest LLMs. [00:32:53] You know, [00:32:54] we didn't build in [00:32:55] twenty eighteen and twenty [00:32:56] nineteen and have all this deterministic [00:32:57] chatbot [00:32:58] AI, AI, I would call it, [00:32:59] and have all that [00:33:00] legacy, and kinda [00:33:01] start from a [00:33:02] fresh, the [00:33:03] modern principles that we [00:33:04] would see in AI [00:33:05] today. The [00:33:06] gap that we were [00:33:07] filling is...

when [00:33:08] we launched Boom Screen, [00:33:09] again, it wasn't [00:33:10] because we, [00:33:11] decided, I mean, [00:33:12] like, this is, we need to do this, [00:33:13] obviously. [00:33:14] It was because we were [00:33:15] good at integrations, [00:33:16] and then our customers asked [00:33:17] us. As we [00:33:18] built Boom Screen, [00:33:19] we found [00:33:20] that, [00:33:21] the [00:33:22] points that we [00:33:23] were part of, we were [00:33:24] part of the problem.

[00:33:25] The [00:33:26] syndicated to [00:33:27] Zillow, you get an [00:33:28] inquiry response [00:33:29] via Zillow to your Zillow [00:33:30] inbox as a [00:33:31] resident, [00:33:32] then I'm getting [00:33:33] hit up by [00:33:34] a, a text [00:33:35] message from some [00:33:36] [00:33:37] CRM or [00:33:38] some, solution. [00:33:39] Then [00:33:40] I get into the [00:33:41] application experience, [00:33:42] which might be a [00:33:43] RentCafe or something like that, [00:33:44] then I get a link out [00:33:45] to the income [00:33:46] verification.

I'm getting now [00:33:47] reminders and [00:33:48] things through that identity [00:33:49] and income [00:33:50] verification. and so this whole thing [00:33:51] was, you could chalk it up [00:33:52] to four to [00:33:53] six [00:33:54] logins and emails and [00:33:55] communication channels that were [00:33:56] coming through, [00:33:57] and I, frankly, we were part [00:33:58] of that problem, we were [00:33:59] contributing to [00:34:00] that and our team, [00:34:01] our partners were saying, [00:34:02] "Look, we love Boom, [00:34:03] but we keep jumping into [00:34:04] this other tool and that other [00:34:05] tool. could we do [00:34:06] everything around leasing [00:34:07] in Boom?" [00:34:08] And you [00:34:09] can't just [00:34:10] do self [00:34:11] showing.

Well, to do self showing, [00:34:12] you kinda gotta do [00:34:13] the, the [00:34:14] listings experience. You [00:34:15] kinda have to do the [00:34:16] syndication, cause that's the [00:34:17] entry point. so that's [00:34:18] kinda where we went, I, [00:34:19] I think in [00:34:20] multifamily there's some scaled [00:34:21] players in there. [00:34:22] we tend to play more in [00:34:23] single-family and [00:34:24] manufactured housing [00:34:25] today.

we did build [00:34:26] this to try [00:34:27] to do better than [00:34:28] everything we saw on the [00:34:29] market. That [00:34:30] said, in manufactured [00:34:31] housing [00:34:32] and in single family, [00:34:33] there are significant [00:34:34] gaps in this [00:34:35] market, uh, where no [00:34:36] one has [00:34:37] really built a [00:34:38] comprehensive structure and a lot of, [00:34:39] uh, comprehensive [00:34:40] offering, and a lot of them are still [00:34:41] angled [00:34:42] more towards [00:34:43] multifamily.

[00:34:44] so we just kind of [00:34:45] followed our customers and [00:34:46] their requests, and [00:34:47] that's what we did.

Edward: [00:34:48] So [00:34:49] Yardi, RealPage, [00:34:50] [00:34:51] AppFolio, they sit [00:34:52] at the center of most [00:34:53] operators' tech [00:34:54] stacks. how does [00:34:55] Boom coexist with [00:34:56] them, and where does [00:34:57] that relationship go [00:34:58] over [00:34:59] time?

Rob: it's a great question. I [00:35:00] mean, it's what [00:35:01] any [00:35:02] VC is [00:35:03] asking probably about [00:35:04] and thinking about, and [00:35:05] It's like an [00:35:06] obvious story, right? [00:35:07] It's basically [00:35:08] ERP, [00:35:09] startup, startup [00:35:10] has a wedge [00:35:11] product. You're trying to expand [00:35:12] that service [00:35:13] area. [00:35:14] And [00:35:15] some startups [00:35:16] that are more [00:35:17] narrow and do this wedge [00:35:18] product are going [00:35:19] horizontal.

I won't name [00:35:20] names, but there are a few that, like, [00:35:21] we do income verification, we [00:35:22] do it for [00:35:23] rental, [00:35:24] auto, [00:35:25] home. Like, we're just good at income [00:35:26] verification, and we [00:35:27] wanna put this in [00:35:28] different verticals and [00:35:29] do that. That's not [00:35:30] what we're doing. We're [00:35:31] really focused on rentals. [00:35:32] That's our [00:35:33] ICP, and [00:35:34] primarily single-family [00:35:35] and manufactured [00:35:36] housing.

That's really all we [00:35:37] can [00:35:38] digest right now, [00:35:39] frankly. for the most [00:35:40] part, and I say, like, [00:35:41] that, that relationship [00:35:42] with the PMS is the [00:35:43] PMSs are getting told, "You [00:35:44] need to be more open." [00:35:45] and but they don't want to [00:35:46] be because a lot of [00:35:47] their revenue, [00:35:48] comes from ancillary [00:35:49] products that these [00:35:50] startups offer, right?

[00:35:51] And so there's this [00:35:52] push and pull. [00:35:53] PMSs [00:35:54] need to be open because their [00:35:55] clients are asking for it. [00:35:56] I think that's where [00:35:57] the wind is blowing, right? [00:35:58] If you look at Claude, [00:35:59] that's what we're doing [00:36:00] here, so I think that's, [00:36:01] that's where this is going. There are [00:36:02] a few PMSs [00:36:03] that are a bit more [00:36:04] open that are further [00:36:05] nudging the market [00:36:06] that way.

they need to [00:36:07] integrate. to, I think they will [00:36:08] have [00:36:09] to. They don't have to make every [00:36:10] part of the API [00:36:11] accessible, and we are blocked [00:36:12] on some of them, and there are [00:36:13] workarounds. [00:36:14] With AI, it's [00:36:15] inevitable that this [00:36:16] is just gonna end up [00:36:17] being open.

but [00:36:18] there... We, we'd love to [00:36:19] do things the right way [00:36:20] and, pay for [00:36:21] it, and we do pay [00:36:22] handsomely to [00:36:23] several of the PMSs [00:36:24] for that [00:36:25] access. where does it end [00:36:26] up? And that's [00:36:27] anyone's guess, but there's this [00:36:28] push and pull, and it's [00:36:29] a, competitive [00:36:30] marketplace.

Edward: [00:36:31] And we'll stay tuned to see [00:36:32] how, that develops [00:36:33] and unfolds. [00:36:34] last but not least, [00:36:35] Rob, collaboration [00:36:36] superpower. If you [00:36:37] could partner with one [00:36:38] person, [00:36:39] historic or living, [00:36:40] real or [00:36:41] fictional, who would it [00:36:42] be?

Rob: [00:36:43] This is not a question I [00:36:44] think about very [00:36:45] often. We've got [00:36:46] a great team. I always [00:36:47] like, I like working with [00:36:48] them. If I had to just [00:36:49] throw something [00:36:50] out. I got [00:36:51] really, interested, the Spotify, I don't know if you've seen [00:36:52] the [00:36:53] Spotify [00:36:54] movie.

Edward: Nope, [00:36:55] the

Rob: there's a movie, yeah, [00:36:56] it's on, Netflix, [00:36:57] but it

was

Edward: [00:36:58] Playlist: The Biographical [00:36:59] Drama Series

Rob: [00:37:00] right. It's great. [00:37:01] And [00:37:02] the guy is just, I [00:37:03] mean, he's going up against [00:37:04] a lot of, [00:37:05] obviously going up [00:37:06] against [00:37:07] Apple and, a, it's a great [00:37:08] story. [00:37:09] I like people like that. [00:37:10] I don't know if I've, [00:37:11] I don't know much about [00:37:12] him or

Edward: [00:37:13] Daniel Ek? Is that [00:37:14] what

we're talking about, Daniel [00:37:15] Ek

Rob: yeah, [00:37:16] exactly. some pe- [00:37:17] people like that. [00:37:18] people that are [00:37:19] hardheaded, y- hard [00:37:20] driving, probably would be [00:37:21] end up being someone [00:37:22] technical probably just [00:37:23] because I'm not [00:37:24] technical.

Edward: Big, big [00:37:25] fan of Daniel Ek as [00:37:26] well. I [00:37:27] recommend anyone [00:37:28] interested in [00:37:29] entrepreneurship or in tech or [00:37:30] in even real [00:37:31] estate, to listen to any [00:37:32] podcast that he's been [00:37:33] on. He's [00:37:34] doing so many more [00:37:35] things beyond P- [00:37:36] Spotify [00:37:37] nowadays. [00:37:38] yeah, like he's [00:37:39] doing longevity [00:37:40] healthcare, [00:37:41] And also the, the, uh, [00:37:42] with all due respect [00:37:43] to our, our [00:37:44] fellow [00:37:45] Swedes and, and [00:37:46] Europeans, and I'm the [00:37:47] biggest fan of, of the [00:37:48] continent and most [00:37:49] countries, building [00:37:50] a [00:37:51] multi-billion dollar [00:37:52] tech company in [00:37:53] Europe, , it's, uh, [00:37:54] not that easy. [00:37:55] So,

Rob: [00:37:56] super hard. Yeah. [00:37:57] I can't even [00:37:58] imagine. even being in Austin [00:37:59] even, I would just say, [00:38:00] like, I love Austin. [00:38:01] It is a bit more - [00:38:02] family-friendly. more [00:38:03] work-life balance than I would [00:38:04] say New York or San [00:38:05] Francisco, right? It's just the way it [00:38:06] is.

so I, I can't even [00:38:07] imagine what it's like in [00:38:08] Europe. Can't be that [00:38:09] intense I, I would [00:38:10] imagine. [00:38:11] Rob, where [00:38:12] can [00:38:13] Tangent listeners [00:38:14] and [00:38:15] single-family [00:38:16] rental [00:38:17] owners and operators [00:38:18] and manufactured home [00:38:19] owner-operators [00:38:20] learn more about [00:38:21] BOOM and connect [00:38:22] with you?

So our [00:38:23] website's [00:38:24] [00:38:25] boompay.app [00:38:26] app, my email is [00:38:27] just [00:38:28] [e-mail], so you can [00:38:29] always email me.

Edward: [00:38:30] Today we [00:38:31] covered a lot of ground on [00:38:32] where rental housing [00:38:33] is headed and the [00:38:34] gaps that still exist [00:38:35] underneath it. We [00:38:36] started with the Road [00:38:37] to Housing Act, [00:38:38] what it changes [00:38:39] for institutional [00:38:40] owners, what the [00:38:41] exemption paths [00:38:42] mean, before next [00:38:43] year, and the [00:38:44] potential implications for [00:38:45] developers and tech [00:38:46] companies.

[00:38:47] We also got into [00:38:48] why screening [00:38:49] is harder than it [00:38:50] looks, , why a [00:38:51] database match isn't the [00:38:52] same as verifying [00:38:53] an identity, [00:38:54] and we talked about what it [00:38:55] looks like to build a [00:38:56] financial layer [00:38:57] underneath 46 [00:38:58] million renter [00:38:59] households when the [00:39:00] incumbents weren't [00:39:01] built to do it.[00:39:02]

Rob, [00:39:03] thank you so much for [00:39:04] coming to Tanyan today and [00:39:05] sharing your [00:39:06] insights and your exciting [00:39:07] company with us.[00:39:08]

Rob: Thanks so much, Edward

[00:39:09] [00:39:10] [00:39:11] [00:39:12] [00:39:13] Muchas [00:39:14] gracias. If you [00:39:15] learn something new [00:39:16] or enjoy the [00:39:17] conversation. [00:39:18] Text a friend the link to [00:39:19] this episode right [00:39:20] now.

[00:39:21] You can [00:39:22] find links, [00:39:23] resources, and ways to [00:39:24] connect with us in [00:39:25] the show notes [00:39:26] [00:39:27] [00:39:28] [00:39:29] [00:39:30]