Meet the Real Estate Tech Founder: Yale Fox from Rentlogic

In our latest real estate tech entrepreneur interview, we’re speaking with Yale Fox from Rentlogic.

Without further ado…

What do you do?

I am a TED Fellow/Kairos Fellow working on ways to use data and technology to improve the life for the middle class. I am also the founder and CEO of Rentlogic, a company that grades every apartment building in New York City as an A, B, C or F – similar to how the City grades restaurants based on health and safety standards. Our grades are based on data that we get from the City of New York, and from on-site building inspections that we conduct through third party, licensed-by-state property appraisers.

What problem does your product/service solve?

Renting in New York City is a difficult proposition even for the most well-informed renter. You never really knows what you’re getting into — something I unfortunately learned firsthand when I rented my first apartment in New York.

The grade is designed to help renters get a clearer understanding of a building’s history before signing a lease. At the same time, we help property owners highlight and promote their well-maintained and operated rental product which leads to higher rents and faster lease-up rates.

What are you most excited about right now?

We are excited to be at the forefront of making algorithms transparent and unbiased, particularly because it helps us make the real estate industry better for everyone — owners and residents alike. Algorithms impact everyone, yet very few people understand how they work. We believe Rentlogic is one of the first tech companies to voluntarily undergo an independent audit of its algorithm (which was covered by Wired), and we hope more organizations will follow.

What’s next for you?

We just announced a $2.4 million seed round, and the launch of our independent building inspections. Using certified third-party building inspections, we will be able to obtain crucial additional data to supplement the public data, ensuring property owners have the most up-to-date and accurate grades, including improvements that are not reflected in publicly available data

What’s a cause you’re passionate about and why?

I am passionate about both technology and animals. I realized that this product was going to involve a lot of working for home in its earlier years. I took this as an opportunity to get a dachshund named Elly (see here). As a result, I did a fun project that combined the two: I created the first artificially intelligent dog. I gave her a voice by mounting Amazon Alexa software to a Raspberry Pi, hooking it up to a mic and speakers and then hooking that up to her harness. Now Elly can talk to people she meets on the streets, picking up keywords that prompt
responses. In the future I’d love to incorporate GPS and accelerometer.

Thanks to Yale for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).

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