Flip, a startup that helps tenants find someone to take over their lease, is announcing that it has raised $1.2 million in seed funding.
The New York City-based company has created a marketplace where lease holders can post apartments that they need to rent out, and where pre-screened applicants can look at housing before it hits the rental market. (Depending on how badly they need to get out of their lease, the current resident can either charge a fee or offer a reward to whoever moves in.)
“We want to create a more flexible way of leasing property,” CEO Susannah Vila said. “There are people who cannot or just don’t want to live in these 12- or 24-month lease cycles.” Rest of Story