DIY is trendy. Many consumers would opt to do something on their own terms rather than go through the entire, arduous process with a company.
NestEgg is with the times. It offers a do-it-yourself business model for property managers along with automated tech to make management fast and easy, saving valuable time for its clients.
We caught up with NestEgg's co-founder and CEO, Eachan Fletcher and asked him a couple of questions to get a better understanding of him and his innovative platform.
OMP: How did you get into the rental game? Do you have a background in data, agency, or at a real estate portal?
Fletcher: Prior to co-founding NestEgg, I was the CTO at Expedia and Vice President of Product at Hotwire. I always operated at the intersection of product and tech and was impressed by how technology can change outcomes for people and how it’s made technology more accessible. I got into the rental game because I personally experienced the landlord challenges after owning units in the US. I saw how rent payment from tenants was always top of mind and it made me question why there has to be a sequence of getting paid on one specific time per month. At the same time, my Co-founder Jeff Spliko, also former Expedia marketing, expressed the same challenges he faced as a landlord with rent payment and the added effort it took to coordinate maintenance issues with tenants and vendors. In 2019, we teamed up alongside our Co-Founder Aime who had a property management firm at the time and launched NestEgg.
What is your company’s USP? (Or what sets your company apart from the competition?)
NestEgg is the only technology software out there to help the 12 million small mom and pop landlords in the US. We help landlords in three ways: streamlining the maintenance coordination with contractors, administrative tasks associated with owning a rental such as payment, and offering rent collection and assurance via the app. On average, NestEgg saves a landlord 75% of their weekly time spent on their properties. Meanwhile, 98% of NestEgg landlords are receiving rent on time during COVID-19.
How many employees do you have?
15-full time employees
What is your biggest challenge?
Our biggest challenge is time and resources, like any other early-stage startup. We've got an aggressive roadmap so it's key to be vigilant about prioritizing the items that will benefit our customers the most. By focusing on the needs of our customers we're able to take continual leaps forward in terms of innovation and execution.
How do you build your audience? How do you view the importance of SEO, aggregators, SEM, social media?
My Co-Founder Jeff has been a digital-focused growth marketer for almost 20 years. As an early startup, our philosophy is to test and learn from online channels quickly, and ramp up the ones that we can prove are delivering results. We are staying away from traditional offline channels because they are hard to measure and don't drive immediate results. SEO and SEM are both extremely important parts of our growth strategy.
Your company is unique and forward-thinking. Are there any plans for future products or services that you would like to tease?
We'll be announcing a new payment solution that will help both renters and small mom and pop landlords. No one else in this segment is offering this new product and it will be announced before year-end.