Silvernest Releases New Online Home Sharing Service for Boomers, Touts Growth

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Boulder-based startup also marks remarkable growth, as more aging adults participate in home-sharing economy

Silvernest boomers seniors technology real estate renting home sharing aging

Silvernest Home Sharing Service

Boomers and retirees are eschewing part-time jobs in favor of joining the shared economy, and home sharing is no exception

Lifestyle technology startup Silvernest is rolling out a new version of its online roommate-matching service for aging adults. A wealth of new features has been added that make it easier for homeowners to navigate the system, view unlimited matches and find compatible, long-term housemates. Silvernest also marks its one-year anniversary with 35% month-over-month growth since the beginning of the year, and CEO Wendi Burkhardt presenting at the 500 Startups Demo Day this week.

What’s New? Unlimited Matches and In-Site Communication
Silvernest has completely streamlined the user experience, making home sharing more intuitive and flexible for both the homeowner and housemate. Here’s a look at what’s new:

  •     Unlimited matching opportunities – All housemate matches are displayed and categorized by percentages, giving users a broader selection to choose from, reducing search time and improving matchability
  •     In-site messaging – With unlimited in-platform messaging, homeowners and housemates can now communicate directly with each other within Silvernest.com – all while protecting personal contact information
  •     Proactive matches – Renters receive proactive matches once completing an application, allowing them to zero in on homes/homeowners that are personally recommended for them

“By and large, we’ve found our homeowners and housemates to be open-minded when it comes to pairing up, and even surprise themselves by going with a less-than-obvious match,” said Burkhardt. “Our new features give them more options for choosing and communicating with compatible housemates, and recognize it doesn’t always boil down to a 100% match.”

In addition to home listings and roommate matching, Silvernest’s service also incorporates tools for background screens, lease origination and payment processing.

Boomers + Technology Take Home Sharing Into Mainstream
There are over 109 million Boomers in the US, and they’re healthier and living longer than ever before. This population wants to “age in place” by staying in their homes as long as possible, but they often face financial challenges. That’s leading many to join the sharing economy by renting out underutilized space in their homes. On top of earning around $10,000 a year in extra income, they also benefit from the social aspects of sharing space.

“Boomers and retirees are eschewing part-time jobs in favor of joining the shared economy, and home sharing is no exception,” said Burkhardt. “With their mounting interest in this type of living arrangement, and our technology enabling this movement, there’s no doubt home sharing will reach the mainstream in the next year.”

Silvernest Hits Major Milestones at One Year
This month also marks Silvernest’s one-year anniversary, and its growth metrics and potential have it being hailed as a hot startup to watch. Some of its achievements over the past year include:

  •     35% month-over-month growth since January
  •     64% month-over-month growth in homeowner signups in the past two months
  •     Home listings expanded to include all 50 states
  •     Numerous industry recognitions, such as being named one of the “Best Entrepreneurial Companies in America” by Entrepreneur magazine, runner-up at the Aging2.0 Global Startup Search, 2016 TIE50 winner and one of the “50 Companies to Watch in Colorado” by Built in Colorado
  •     Built out a full-fledged executive team, adding a CFO and VP of marketing

“Our growth can be attributed to launching in a primed market and answering a need that’s been largely overlooked,” said Burkhardt. “It’s also a product of learning new growth tactics through 500 Startups and putting them into motion.”

Pricing Details
Homeowners can sign up for three months of Silvernest’s service for $29.99. Beginning Jan. 1, 2017, it will be $9.99 a month for potential housemates to use the service. Until then, it will continue to be free for them to sign up. Background screens run $29.99.

About Silvernest
Silvernest is an online home sharing service that pairs aging homeowners with qualified housemates, giving Baby Boomers and empty nesters an aging-in-place alternative. Through its roommate-matching, lease management and localized support services, Silvernest combines the tools, expertise and commitment to provide the industry's first comprehensive home sharing platform. This hassle-free service takes care of the details, providing peace-of-mind by enabling people to stay in their homes, while benefitting from increased income and shared experiences. Boulder, Colo.-based Silvernest has been called a company to watch. Visit us online at http://www.silvernest.com, check out our blog, or follow us Facebook and Twitter.

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Rebecca Scanlan

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