DALLAS, March 5, 2020 /PRNewswire/ --
Neighbor.com, the self storage marketplace disruptor, launched today across the Dallas-Fort Worth metro, creating a sustainable alternative to traditional self-storage that enables local residents to rent out extra space in their homes to their neighbors. Neighbor's shared storage marketplace brings inexpensive, safe and accessible storage options to one of the nation's largest storage markets while empowering DFW residents to make thousands of dollars per year in passive income.
"Texas is the second largest self-storage market in the United States, so it's fitting that Neighbor's peer-to-peer storage marketplace has grown organically in Dallas, where many homeowners are looking for reliable passive income, and renters want to save an average of 50% on storage," said Joseph Woodbury, CEO and co-founder of Neighbor.com. "Neighbor.com has been rapidly expanding by word of mouth across the U.S., but now is the right time to build out our community management team in Dallas to bolster access to storage for one of the most in-demand storage regions in the country. This team, along with our increased investment in new front- and back-end technologies will ensure DFW residents continue to have unmatched access to safe and affordable storage options."
Neighbor brings the peer-to-peer shared marketplace concept to the under-innovated $40 billion self-storage industry, connecting "renters" in need of storage space with "hosts" in their neighborhood who are willing to lease extra storage space in their home or garage. This lets renters store anything from boats to furniture to boxes of extra stuff in nearby basements, sheds and garages for half the cost of traditional storage options. The income to hosts is both recurring and dependable — some hosts make as much as $25,000 per year doing little to no work — setting it apart from other gig solutions. In Dallas, hosts are insured by a $1 million liability guarantee while renters are backed by an industry leading $25,000 guarantee that covers all items stored through the platform.
"Texans spend almost $5 billion on self-storage each year, and the Neighbor marketplace is fundamentally designed to put some of that money back in the pockets of storage renters, as well as storage hosts," said Colton Gardner, Head of Operations at Neighbor. "From single parents using Neighbor to pay down their mortgages to young professionals paying off their student loans, it's tremendously rewarding to hear how Neighbor's simplified passive income model is impacting the lives of people across the country. Homeowners in the DFW metro area pay some of the nation's highest property taxes, and we are already seeing how Texans in the area are alleviating some of that cost burden, while providing affordable and reliable storage for their neighbors."
Following the January announcement of its Series A funding, led by marketplace visionary Andreessen Horowitz, Neighbor's launch in Dallas includes a full marketing and awareness campaign across the DFW area. Under Neighbor Head of Marketing Preston Alder, the company is also building out a team in Dallas that can bring a personal touch to the Neighbor community, while ensuring hosts and renters get the most out of their shared storage agreements.
Founded in 2017, Neighbor is a peer-to-peer self-storage company based in the Silicon Slopes of Lehi, Utah. The company connects people who have unused space in their homes, garages or apartments to renters who are looking for affordable storage. Neighbor benefits renters by providing safer, more accessible storage for half the price of a traditional self-storage unit, while giving hosts the opportunity to earn thousands of dollars per year from their empty space. Neighbor's team helps keep the connection safe, easy and friendly and provides an unprecedented $25,000 renter guarantee for items stored and a $1 million host liability guarantee so that good neighbors everywhere can help each other out. Learn more about Neighbor at neighbor.com.
Radius caught up with Neighbor.com's Preston Alder last March 2019 at the ISS World Exp in Las Vegas.
Thumbnail: Photo by Enrique Macias on Unsplash