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RE: LeoThread 2024-11-06 03:16

in LeoFinance3 months ago

The company decided to target brokers, as opposed to landlords themselves, due to the fragmented nature of Mexico’s rental market, Morales said. Unlike in U.S. cities where there is a concentration of large landlords that manage a ton of units, in Mexico, it’s the opposite. Most landlords only own one property.

“It’s all mom and pops, like 97% of the market is mom and pops,” Morales said. “They really depend on this income. So they’re like, ‘Oh, who am I renting to? What happens if they don’t pay?’ There’s a lack of trust there. We say, we can help solve that or bridge that lack of trust with technology.”