One of Brazil's largest real estate and construction companies by revenue and market share Cyrela will partner with local startup QuintoAndar, a business founded to be the nation's technological alternative to real estate.
Under the agreeement, Cyrela will refer customers to QuintoAndar if they are intending to lease their property as an investment once it has been acquired. The agreement will be valid for apartments currently under construction and those ready for purchase.
Cyrela says it will assign its homeowner users with an account manager who will lead the whole process of negotiation including the final signing of contracts.
While it is the first partnership of this kind between QuintoAndar and a construction company, the startup says negotiations are underway to develop similar agreements, but declines to name the companies involved at this time.
Founded in 2013 by André Penha and Gabriel Braga, QuintoAndar aims to facilitate the process of finding and renting an apartment using technology.
The site offers a marketplace where property owners publish pictures and information about their apartment. Potential tenants schedule a broker using the site, secure the property and pay rent to the owner directly. The startup also offers leases and pays surety bonds for tenants.
In February this year, the startup received its first investment of $ 7 million from Kaszek Ventures, a company with a strong background of investment activity in the Brazilian Internet industry.
The similarity between the QuintoAndar's concept and that of Uber transport has earned the company an informal nickname in Brazil of the "Uber of real estate."