Rent the Backyard works with a partner to build the apartment, finances the construction, lists the property, selects the tenant, collects the rent and serves as the landlord. In exchange for all that, it has an ownership stake in the unit and keeps 50% of the rent.
The startup also handles the permitting, which co-founder Spencer Burleigh said has become much easier with recent changes in California law. In fact, he pointed to stories about how these changes have led to skyrocketing applications (16 in 2016, 350 in 2018) to build “in-law” units in San Jose, which is where the startup is focused for now.
From a Bon Appétit Magazine article by Amanda Shapiro:
While it may be unassuming, B.T.’s is hardly undiscovered. The lines get long, so time your trip to hit the smokehouse when it opens at 11 a.m. or during the late-afternoon lull. Order your meat to go, grab a beer at the convenience store next door, and park yourself on the hood of your car, the curb, or anywhere you can find a spot. It isn’t glamorous, but it is astonishingly good.
Situated between I-84 and I-90, B.T.’s is an ideal pit stop for any drive that takes you up to (or down from) Boston, New Hampshire, or Maine. Brisket is the thing here—smoked for 24 to 30 hours on local apple and hickory wood. You can order it à la carte, in a Reuben-style sandwich, or—my favorite—on a platter with classic sides like collard greens and mac and cheese.
“Knee replacement is increasing in frequency, and it has an associated substantial cost implication to any health-care provider. It is also essential that patients receive the most efficacious operation for this condition. Before our study, and despite several cohort-based reports, knowledge of whether one operation type is superior, remained uncertain. Our 5-year study has indicated that both TKR and PKR are beneficial interventions but, based on our combined clinical and cost-effectiveness data and providing the operation is performed by those with adequate experience, we recommend that PKR should be offered as the treatment of choice for late-stage isolated medial compartment osteoarthritis of the knee.
By next year, Zeidan expects Life House to have more than 20 hotels open or under construction across the country, with new developments in Brooklyn, N.Y.; Denver, Colo.; and Lake Tahoe, Nev. “Ninety percent of our hotels are historic buildings that we convert and re-imagine into lifestyle products,” he told HM. In developing each property, the company’s creative team examines both the logistics of the asset and the narrative of the building and its location. “Historic buildings have a tremendous amount of stories and inspiration to draw from,” said the executive.
Life House opened its first hotel late last year in Miami’s Little Havana neighborhood and will have five more hotels in the city by the end of 2019, as well as a further five beyond Miami. In total, Life House has signed more than 500 rooms across nearly 10 projects so far, spending less than $5 million of venture capital and positioning the company to raise a Series B round of funding this summer.
Zeidan’s asset-light growth plans for Life House are focused on markets with high hotel prices and where home-sharing services are highly regulated. Miami’s Airbnb regulations and seasonality made a boutique brand a good fit, he said, and the high prices on hotels in Nantucket made that city optimal for a lifestyle brand. “And there’s an under-supply of hotel inventory there,” he added.