Brazilian Rentals Star Quinto Andar Expands Model to Mexico with Benvi

June 22, 2022
Share this Post: 

The Brazilian end-to-end rentals marketplace company Quinto Andar has announced the expansion of its model to the Mexican market with the launch of Benvi.

The new rentals platform will use the same model as that employed to great success in Quinto Andar's native Brazil. Benvi will act as an end-to-end brokerage for home seekers and take a brokerage fee (in Brazil this is typically one month of rent).

Both the Mexican and Brazilian rentals markets are beset with bureaucracy, informality and a lack of trust. The proposition for Benvi users is the same as for those of Quinto Andar:

  • The process is 100% online and transparent
  • Landlords have 12-month rental payment protection and damage insurance
  • Renters can get an apartment without having to have a guarantor or deposit

Quinto Andar's Director of International Expansion, Nicolás Tejerina told local publication CentroUrbano that Benvi's offering will be:

"...a proven product with ample history, clear knowledge of the industry and a strong investment in technology" which will be "adapted to the Mexican market over time".

For now, Benvi is available to users in parts of the central Mexico City area and some surrounding suburbs with the plan to expand coverage over time.

The Mexican market is a particularly attractive one for innovative real estate marketplace businesses in Latin America. Quinto Andar's fellow Brazilian PropTech unicorn Loft operates in Mexico through its TrueHome brand. Colombian marketplaces Aptuno and La Haus expanded north soon after their respective foundations and Colombian iBuyer Habi recently bought out a couple of minor real estate portals in Mexico to fuel its activities in the country.

Interestingly Benvi listings will be syndicated to Mexico's leading traditional real estate portal Inmuebles24 which Quinto Andar took control of when it bought out Navent's real estate titles in December 2021. When the deal went through there may have been eyebrows raised at the disruptive Quinto Andar buying out a more traditional set of portals, but perhaps with the launch of Benvi and its listings integration with Inmuebles24 we are seeing a template of how Quinto Andar plans to act in other Latin American markets.

June 22, 2022
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1958725735
Spotahome Tells Staff That It Expects Another Round of Layoffs

Madrid-based on-demand rentals specialist Spotahome has announced it will go through another round of layoffs, weeks after firing two senior...

Read More
Homely And Ptg Skyline
Aussie Portal Homely Integrates with Proptech Group's VaultRE and Eagle CRMs

Australian challenger portal Homely.com.au says it will be easier than ever for agents to list in more places after announcing...

Read More
Jason Tebb Onthemarket Quote
Jason Tebb: "I dread to think where prices from the others would be if we hadn't been around" - OnTheMarket Boss Speaks Exclusively to OnlineMarketplaces.com

In an exclusive interview with Online Marketplaces, Jason Tebb admitted that OnTheMarket's mission was not to go after Rightmove... Since...

Read More
Urban.com .Au Image
CarSales Founder Steve Kloss Invests in Urban.com.au and Gets Board Seat

The Australian primary real estate marketplace company Urban.com.au has secured investment from CarSales.com.au founder Steve Kloss. Kloss joins the portal's...

Read More

Editor's Pick