The Administration's commitment to promoting transparent pricing aligns perfectly with Zillow's mission to bring clarity to renters. The new feature was recognized today by the White House in an announcement outlining President Biden's efforts to lower costs for renters. These onetime fees and any ongoing monthly charges can quickly add up, potentially pushing renters beyond their desired budget range. And for renters who paid an application fee, the typical amount was between $40 and $59. Zillow's latest CHTR report shows that the typical security deposit for renters who paid one was between $500 and $999. However, many renters may not be aware that their budget needs to account for more than just the monthly rent. The Cost of Renting Summary was purposely built to empower the average monthly 28 million unique visitors to Zillow Rentals(1) with the information they need to make informed decisions throughout their housing journey.Īccording to Zillow's Consumer Housing Trends Report (CHTR), 80% of renters said staying within their initial budget is highly important - more than any other factor in choosing a home. This feature is now available on all detail pages for rental multifamily buildings across the Zillow app and website. SEATTLE, J/PRNewswire/ - Zillow's new Cost of Renting Summary gives renters clear insight into the financial obligations of renting, making it easier than ever to understand the costs involved. To learn how to get involved with connecting landlords to renters experiencing barriers to housing, contact Housing Connector today.Zillow introduces the Cost of Renting Summary to bring transparency to rental expenses The company recently added information on local legal protections that help LGBTQ+ home shoppers find communities who welcome them. Housing Connector is just one example of social impact technology integrated into Zillow’s home listings. To date, Housing Connector has helped 860 people find homes, 70% of whom are people of color. The value of home has never been greater and it’s critical that we continue to shine a light on and address the systemic barriers to housing that too many members of our communities face Dawn Lyon Now, Housing Connector landlords quickly upload their available units to Zillow the case managers go to Zillow and see a complete set of homes for rent, where landlords have adjusted or waived criteria that often disqualify people most in need of housing. The search tool addresses a big challenge nonprofit case managers have: the time it takes to manually search through rental listings that are available and affordable for clients who are experiencing homelessness. “The value of home has never been greater, and it’s critical that we continue to shine a light on and address the systemic barriers to housing that too many members of our communities face.” “The Housing Connector search tool is the kind of innovative, creative, and impactful solution that can come from uniting our people and technology with the expertise of local community partners,” says Dawn Lyon, Zillow’s Chief Corporate Relations Officer, who virtually accepted the award on Zillow’s behalf. It recognizes Zillow for its partnership with Housing Connector, highlighting the positive impact of eliminating systemic barriers that many people face in finding a home. Today, Puget Sound Business Journal honored Zillow with the 2020 Corporate Champion, Neighborhood and Communities Award. It’s the backbone of Zillow’s social impact program and has inspired efforts like the company’s collaboration with Seattle nonprofit Housing Connector on a rental search tool that connects private landlords with the people most in need of housing. This value runs deeply through Zillow, informing everything from key business and product decisions to the way employees show up for one another every day.
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