If you’ve ever sublet your apartment, you know it can be a headache. The last thing anyone needs when moving to a new apartment is worrying about filling the old one, and avoiding a potentially fatal month of double rent. Montreal-based Flatbook wants to make sublets effortless and recently chose transient-heavy Atlanta as their newest market. I chatted with Regional Manager Ricardo Theiner and Founder Francis Davidson to find out more.
Founded by Francis Davidson (CEO) and Lucas Pellan (COO), “Flatbook takes places around the world and converts them into world-class short term rentals,” says Davidson. We eliminate the pain of subletting by offering flexible leases and a curated subletting program so you’ll never have to pay for an empty home again. We manage, clean, and insure all of our spaces, and we offer to pay guaranteed rent to landlords and tenants. Last year alone, we saved our subletters $500,000 in rent they could put towards their summer dreams.”
“We’re solving the problem of being bound by a lease by offering to pay you your rent guaranteed or offering you a flexible lease,” he explains. “We’re changing how real estate and hospitality work. We make paying for an empty home a thing of the past, something that will affect thousands of real estate properties around the world. Our service is really novel, and no one else offers a rent guarantee, hassle-free way to leave during the summer. Certain student residences offer flexible leases, but they are typically hotel rooms rather than apartments with a living room and kitchen.”
Davidson and Pellan met at a dinner party in 2013, where they became fast friends and realized that Flatbook was destined for greatness. Francis is an academic at heart, passionate about philosophy and economics. He has written a research paper on utilising hybrid rental strategies to optimize the usage of residential real estate. Lucas started his first business at 17 and since then, he has developed a passion for innovation, entrepreneurship and hard work.
They decided on Atlanta as a new market because, “Atlanta’s a booming city with a large university population: the perfect place for us to launch Flatbook,” says Davidson. “In terms of applications per city, Atlanta is already top 3 worldwide out of 22 non-Canadian cities, which I am really proud of,” says Theiner.