Our friends at Splittable have launched a new free tool for renters – CEO Nick Katz explains
Splittable is a residential property technology startup that was born out of a realisation: the housesharing era is upon us. The perfect storm of high house prices, low wage growth and tighter lending requirements are changing how we live. And as you might expect, for the new generation of renters, housesharing isn’t always a rosy alternative.
All our founders have spent years housesharing in the UK as well as the US and have experienced first hand how frustrating it can be and how quickly friendships can disintegrate from issues both large and small. We think it’s important that your property feels like home, rather than a place filled with people you want to avoid!
We jumped two feet into customer research to figure out the most annoying aspects of housesharing to make sure it wasn’t just us having all these problems. We came up with Splittable.co, which helps you easily split costs and expenses with your housemates along with some other helpful resources. We’re working hard online to help automate the pain away and increase happiness in the home offline.
Splittable is set up instantaneously once members of a houseshare accept invites sent by one housemate via email, a facebook a Whatsapp message. Its key feature is the All Squared Meter, which visualises whether housemates owe others for shared costs, or preferably, the optimal situation of every housemate being “all squared”.
The technology reflects in real-time the data you provide when you add costs and split them between housemates, liberating users from the niggling task of tallying up household finances.
The idea at the core of our visual technology is stewardship. By making users aware if a particular member is carrying the bulk of the burden of buying shared costs, Splittable encourages housemates to help one another out and pay for the next thing.
So if you want to stress less and live more – check out Splittable.co.
Nick Katz is co-founder & CEO, Splittable