build-to-rent
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Elmington Built a Housing Machine. Now It Has to Prove the Machine Can Keep Homes Affordable.
The Nashville firm turned recession-era opportunism into a vertically integrated housing business. Its next test is harder: making public-private affordability work at city-shaping scale.
The Landlord's Lender: How Arbor Turned Apartment Loans Into a $36 Billion Machine
For four decades Arbor has bet on the least glamorous corner of real estate - the mid-size apartment building - and built a lender that hands owners money on day one and still gets paid a decade later.
Meritage Homes
The Scottsdale builder made energy efficiency standard equipment instead of a luxury upcharge - and used it to close more than 15,000 homes a year.
Rukita
Rukita is an Indonesian proptech company that manages and rents out furnished co-living spaces, apartments, and boarding houses (kost) under a single brand and app. Founded in 2019 in Jakarta, it aims to raise the quality standard of rental housing for Indonesia's young urban professionals by combining standardized, serviced residences with a technology platform that handles booking, monthly payments, maintenance requests, and community events. Rukita operates directly managed units and a wider marketplace of partner properties, and has expanded its ecosystem into property marketing (RuOption) and financing (RuFinance).
Aerwave
Aerwave is a Texas-based proptech company that designs, deploys and operates next-generation managed Wi-Fi for multifamily residential communities. It delivers property-wide, gigabit-speed internet that is secure and always on, paired with 24/7 domestic support, an owner analytics dashboard, and a capital program that lets property owners deploy infrastructure with no upfront cost. Aerwave works exclusively with real estate owners, developers and operators across the multifamily, build-to-rent, single-family rental and student-housing markets.
Nutiliti
Nutiliti is a software-plus-service utility management platform that lets property managers and owners hand off the tedious work of turning utilities on and off, retrieving and paying bills, billing tenants back, and reconciling the accounting. Founded in 2020, the company pairs a REST API and dashboard with dedicated human account managers, aiming to collapse work that once took 80-plus hours a month into a couple of hours while protecting portfolio NOI. It serves single-family, multifamily, and commercial operators across the United States.
Nick Whalley
Nick Whalley is the co-founder and CEO of Nutiliti, a utility management platform that handles the unglamorous but expensive work of turning power, water, and gas on and off across rental portfolios. A Dartmouth-trained engineer who spent three years on Goldman Sachs's electronic trading desk before leaving in 2020 to build software for property managers, Whalley runs a company whose pitch is blunt: manage properties, not utilities. Nutiliti automates activations, deactivations, bill payment, and accounting reconciliation, and exposes it all through a REST API so single-family rental and build-to-rent operators can stop drowning in utility paperwork.
Bungalow
Bungalow is a tech-enabled residential rental platform that turns single-family homes into furnished, flexible, community-driven housing. It matches renters with rooms and whole homes across major U.S. markets, handles roommate matching, tours, payments and maintenance through its app, and offers homeowners and institutional investors full-service property management for single-family-rental and build-to-rent portfolios via its Radar platform.
Andrew Collins
Andrew Collins is the CEO and co-founder of Bungalow, the largest co-living network in the United States. Raised in Tulsa, Oklahoma among serial entrepreneurs, he studied sociology and economics at Princeton and earned an MBA from Wharton before deliberately collecting skills at Medallia, Facebook, and the startup studio Atomic. In 2017 he and Justin McCarty turned their own struggle to find affordable housing and friends in a new city into Bungalow, which furnishes homes and rents individual bedrooms at roughly 30% below the cost of a studio. The company has raised about $175 million, including a $75 million Series C in 2021, from backers like Khosla Ventures, Founders Fund, and Coatue.
Salman Ahmad
Salman Ahmad is the co-founder and CEO of Mosaic, a Phoenix-based, tech-enabled general contractor reinventing how build-to-rent homes get planned and built. He grew up in a construction household, then stacked degrees in computer science from Arizona State, Stanford, and a PhD from MIT before deciding the most interesting unsolved software problem was the most analog industry there is: pouring foundations and framing walls. Mosaic's software platform, Mosaic Hub, coordinates contractors, schedules, and payments so homebuilders can offload construction the way startups offloaded servers to AWS.