Zumper Launches Short-Term Rental Listings, Raises $30 Million

Zumper is the largest privately held rental platform in the U.S. used by more than 13 million renters a month.

SAN FRANCISCO &&num;8212&semi; Zumper, a privately owned rental marketplace, is launching short-term rental listings&period; The company has also raised a &dollar;30 million Series D funding extension with a total of &dollar;178 million raised to date&period;&NewLine;Work from anywhere has prompted a cultural shift in day-to-day life and is just one example of how the pandemic accelerated macro trends in alternative accommodation&period; Zumper found that &frac13; of users were interested in flexible rentals and data from Zumper&&num;8217&semi;s 2021 survey of short-term rental users dictates that beyond the trendy use cases for short-term rentals, whether digital nomads or consumers with the unfettered means to travel and live a flexible lifestyle, short-term rentals are a means for a myriad of situational stays, such as a gap in housing, migratory work and even a stepping stone to building rental history, credit and more&period; The survey also revealed that 74 percent of users are booking 1-2 monthly rentals annually and 49 percent remain in one unit between two and six months&period; Short-term rentals are therefore not just an option for how people vacation, but how they live&period;&NewLine;&&num;8220&semi;Our brand is aspirational yet grounded,&&num;8221&semi; said Shalin Amin, Chief Experience Officer of Zumper&period; &&num;8220&semi;We&&num;8217&semi;re not just for trendsetters and digital nomads but for those in-between leases or those trying to build a rental history&period; We&&num;8217&semi;re a solution for many people looking for temporary housing in a growing workforce of migratory workers, like traveling nurses, construction crews, and disaster response teams&period; Our users play a critical role in making the communities and cities they relocate to thrive&period;&&num;8221&semi;&NewLine;In Zumper&&num;8217&semi;s 2022 survey of monthly renters, 12&period;3 percent of respondents said they use short-term rentals for nomad life, while 35&period;2 percent said they use them to accommodate a temporary gap in housing, by far the most common use&period; Monthly renters also use them for work travel, as 21&period;3 percent said that was why they used short-term rentals&period; Think of a traveling nurse or someone whose job is location-specific but at multiple locations&period; Rounding out the use cases were people scouting locations before a move (19&period;4 percent) and students who didn&&num;8217&semi;t want to commit for an entire year (8&period;1 percent)&period;In Zumper&&num;8217&semi;s 2021 survey&ast;, almost 50 percent said they&&num;8217&semi;re not sure where to even find monthly rentals, suggesting that there&&num;8217&semi;s a need for a go-to platform that caters to these renters&period;&NewLine;By expanding inventory to now offer short-term options, Zumper directly addresses renter pain points by giving consumers the flexibility to find their forever or for now residence&period; Zumper&&num;8217&semi;s short-term listings can be booked at no additional fee to the guest, which is traditionally upwards of 15&percnt; or more on other short-term rental sites such as Airbnb&period; Conversely landlords can now opt to list their properties short-term to meet demand with the ability to advertise their short-term and monthly rentals in front of Zumper&&num;8217&semi;s over 178M annual visits&period;&NewLine;&&num;8220&semi;With the traditional short-term rental industry, fees are too high and consumers need to look at a multitude of different websites to find the right listing,&&num;8221&semi; said Zumper co-founder and CEO Anthemos Georgiades&period; &&num;8220&semi;We want to build the most comprehensive rental platform that enables our renters to easily find the best short-term, monthly or long-term rentals with a product designed for today&&num;8217&semi;s far more flexible world&period;&&num;8221&semi;&NewLine;

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