Homeownership is a ubiquitous dream in the western world because it’s thought to be a major achievement toward becoming an adult and seen as a hallmark for stability. However, owning a home is increasingly becoming an unattainable goal for millennials, with many unable to accumulate enough savings to finance a down payment in the current housing market, along with many other reasons. This has made renting a more viable option in the contemporary world. Renters can also build their wealth and achieve stability — but only if they choose an affordable space.
The real estate market is so competitive that many renters cannot afford to rent entire units and have to share living spaces with strangers, and this is what the statistics reveal too. Over 80 million people, and that number is growing by 16%, live with unrelated adults in shared housing in North America. However, the room rental process is broken: it’s inefficient, unsafe, and almost always frustrating for both renters and landlords. In this challenging situation Soulrooms, an advanced AI-powered platform, offers a perfect solution.
Soulrooms is an online platform that connects room renters to the real estate market — providing a transparent and safe way to search for and rent rooms. By incorporating artificial intelligence into the real estate realm, the platform intends to eliminate any chance for error found in traditional methods of renting a room in a shared house. This will lead to more properties being rented out in a shorter period, helping both property owners and room renters maximize their gains.
Due to the recent economic recession due to the pandemic, housing prices have sky-rocketed across Canada. People are being pushed away from owning or renting a home under such harsh economic conditions, leading to increasing demand for a shared living — one of the few ways people can still afford to live gracefully. It has allowed a large number of Canadians to access affordable housing, particularly in urban centers where demand for rental properties vastly exceeds supply. Soulrooms is the new service that allows property owners to reach genuine renters for their co-living spaces.
Soulrooms is also revolutionizing the way millennials save for a home with a unique platform that pushes the concept of shared housing to the next level. The company believes that by offering young professionals access to affordable and comfortable rooms in high-quality shared buildings, they are helping millennials save more easily and make them closer to their ultimate dream of owning a home one day.
The platform uses state-of-the-art technology to optimize room-renting for modern renters and property owners. With cutting-edge machine learning algorithms, properties can be transformed into popular, profitable lodging faster than ever before — and renters get a good deal according to their requirements in the desired places all through one platform.
Soulrooms currently features more than 300 different rooms at five unique locations: Pembroke, Lansdowne, Bloor, Wellington, Wallace, Winnipeg and Liberty, and invites property owners to get listed on the platform to offer a steady stream of rooms to the urban living enthusiasts.
Company Name: Soulrooms
Contact Person: Media Relations