In this week’s founder interview, we’re bringing you Jonah Hanig from Rove.
Without further ado…
Who are you and what do you do?
My name is Jonah Hanig, and I’m the founder and CEO of Rove. Rove is a luxury, remote work-friendly property rental brand, and a marketplace for investors to purchase short-term rentals. We are building the central luxury short-term rental platform for consumers and real estate investors alike.
Rove’s curated portfolio spans eight American destinations, including New York City, The Hamptons, Miami, West Palm Beach, Scottsdale, and Park City. We’re backed with $4M in funding from top venture investors.
What problem does your product/service solve?
A 2022 US Census report found that the number of remote workers has tripled since 2019, but standard rentals aren’t designed for their unique needs. I personally experienced this problem while traveling and struggling to find Airbnbs with good wifi and hotels equipped for groups.
Rove’s rental properties combine the comfort of a home with the convenience of a hotel. All of our homes are reviewed and designed by professional interior designers and are consistently equipped for a luxury rental experience––from spacious kitchens you actually want to cook into ergonomic workspaces with lightning-fast wifi to on-call customer service. Since onboarding the first property in the summer of 2021, Rove grew from zero to more than $5M of run-rate booking revenue in a time span of less than 12 months.
Rove’s marketplace is an online platform for investors of these properties (and others) to buy and sell short-term rental properties. Comparing the investment performance of prospective for-sale short-term rental properties is challenging. There’s currently no platform to compare for-sale residential properties by historical and/or projected income as short-term rental investments.
Rove is also building compliance data to help prospective home buyers understand if a for-sale property is eligible to be a short-term rental, or is in a city, state, or HOA that may restrict this type of use. So, owners have the freedom to use their own vacation homes part of the year and access tools to better manage and forecast their property’s performance.
What are you most excited about right now?
We recently announced the marketplace, and we have a lot of exciting features we’re launching soon to help investors and vacation-home buyers make better-informed purchases.
While some reports show the short-term rental industry is valued at 100B, it is still in its infancy when it comes to institutionalization. Rove is positioned to become the first place investors come to when they’re considering buying a short-term rental.
What’s next for you?
Our primary focus in 2023 is growing our existing portfolio of luxury rentals to become the leader in our existing markets, and scaling our marketplace alongside the new products we are launching. We are also down on what our customers have been asking for – creating the best possible Rove travel experience for both customers and investors.
We’re also planning on launching in new destination locations across the country, so stay tuned for announcements from Rove.
What’s a cause you’re passionate about and why?
My parents and grandparents are actively involved in College Bound Opportunities – a fantastic organization that helps underprivileged students with college prep, succeeding throughout high school and college with mentorship and resources at each step. It’s a great charity I hope to be more involved with over time.
Outside of causes, I am a competitive runner – I won the 2022 Hamptons half marathon and got 76th at last year’s New York City Marathon! Trying to stay in shape when I can.
Thanks to Jonah for sharing his story. If you’d like to connect, find him on LinkedIn here.
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