Waitly – The Renting Platform based on Trust
The Danish company Waitly offers a platform for property owners and home seekers offering transparent, fair and convenient waitlists – and is currently expanding to the German market.
Waitly – The Renting Platform based on Trust
The Danish company Waitly offers a platform for property owners and home seekers offering transparent, fair and convenient waitlists – and is currently expanding to the German market.
Waitly – Automation turns into convenience
The company was founded in 2019 by CEO Tim Myhrvold and CTO Morten Pyndt Dalgaard who experienced firsthand the challenges of managing properties using Excel as property owners and managers. As it turned out, creating and managing waiting lists for interested home seekers was difficult – especially if you wanted to do it fairly.
That’s why Myhrvold and Dalgaard developed a digital solution that would solve pain points for both home seekers and property managers.
The Waitly Vision:
To be the
leading supplier for
exceptional digital
waiting list experiences.
Advantages for home seekers
- Subscribe for free to newsletters for your preferred neighbourhoods and get notified when new listings for properties are available on the platform.
- Pay an annual fee to enter a waitlist for your dream building and revive offers directly in your inbox when an apartment is free for renting.
- Subscribe to a priority listing if you already live in a listed building and want to change flats (e.g. into a bigger flat, with a balcony, different floor, etc.)
- Receive full transparency of prices, the requirements for renting, the number of units, the general turnaround of apartments per year, and your potential number on the waitlist BEFORE you pay for a waitlist placement
- Get email notifications about flat viewings
- Fraud protection since Waitly is in close contact with all renters
Advantages for property managers
- Waitlisted tenants are more likely to be serious since they pay for the waitlist placement
- Define tenant / waitlist requirements and manage according to GDPR-compliances on the Waitly platform
- Plan, communicate and document flat viewings to make an informed choice on your preferred future tenants
- Get insights into tenants interest of neighbourhoods and buildings by the number of waitlist placements
- Get rid of excel sheets and email management with one cohesive dashboard overview of all your properties, waitlists, and flat viewings in one.
- Fraud protection since Waitly subscriptions require documentation and deter from mass-listings
What makes Waitly a great business model?
A subscription business that caters to B2B and B2C customers is nothing new. But a product that serves both customer groups by connecting their needs and optimizing their communication and collaboration is rather unusual.
Waitly is effective because it addresses the key pain points of both property owners and home seekers, aligning with their goals by fostering transparency and trust on both sides. By removing barriers that gets in the way of a positive and effective communication, Waitly creates a win-win situation for everyone involved
Billwerk+ has been our preferred recurring revenue management tool since we launched in Denmark in 2019. They’ve adapted to our growth and consistently provided the best setup for our needs. Billwerk+ has saved Waitly countless manual hours, and our operation wouldn’t be as effective without a robust subscription management system.
Waitly is entirely subscription-based, managing over 40,000 subscriptions. As we expanded into the German market, Billwerk+ has been invaluable in helping us find the right solutions and establish agreements with various payment providers.
Tim Myhrvold
CEO at Waitly
Waitly expands to Germany
Waitly proved their business case in Denmark in the last couple of years by becoming a popular solution for digital waiting lists. Now, it is testing the platform on the German market for Berlin and Hamburg, two sought-after cities known for their renting crisis.
For many home seekers in Germany, the rent market has become increasingly difficult to navigate:
- Platforms like ImmoScout are constantly in the news due to bad actors trying to scam people
- Flat viewings have dozens, sometimes even hundreds of people, reducing any chance to meet the property owner
- Intransparent waitlists require home seekers to call or mail regularly to verify their position
We are expanding into Germany because the value we’ve added to the Danish real estate market can greatly enhance the user experience in major cities like Berlin and Hamburg, where tenants and landlords are frustrated with the current situation.
Tim Myhrvold
CEO at Waitly
Likewise, property owners drown in applications and have to constantly keep their waitlists updated which is often a manual and time-consuming task, as well as organize their viewings and verify documents to approve candidates.
- Low-effort waitlists result in too many candidates with a low renting commitment
- Flat viewings with too many people are difficult to manage since it’s next to impossible to get to know the home seekers and make an informed decision
- GDPR-compliant management of candidate’s documents (Schufa, ID, etc.) can be difficult the higher the number of applicants becomes
The market is in need for a smart, easy, and automated solution that reduces stress, increases transparency and protects from fraud attempts.
In 2024 and 2025, our focus is on entering the Berlin and Hamburg markets. We expect positive results from these cities, enabling us to expand further into other major urban areas. Waitly excels in larger cities where demand and supply are imbalanced.
Our vision is to become the leading provider of digital waiting lists. To achieve this, we are exploring opportunities beyond real estate, such as private kindergartens, schools, sports clubs, and harbors—areas where capacity is limited.
Tim Myhrvold
CEO at Waitly
4000+ Customers grow with Billwerk+
4000+ Customers grow with Billwerk+
