langley steinert

Founder/Exec. Chair CarGurus (CARG), fmr. co-founder of TripAdvisor (TRIP), Founder/Chairman ApartmentAdvisor - passionate about startups and technology

[langley steinert @langleysteinert]

AI in your property management & ownership strategy gives you a growing knowledge asset.

https://t.co/EzSpxo2UoS

[langley steinert @langleysteinert]

AI technology is changing how multifamily property owners and managers interact with their tenants.

https://t.co/7SxMdGpDAk

[langley steinert @langleysteinert]

Don't try this at home. @CarGurus

https://t.co/5ksw4RNPp8

[Boston Common Golf @commongolf]

Pros make it look easy—don’t try this at home.

If you ignore this warning, and your car pays the price, check out @CarGurus.

[langley steinert @langleysteinert]

CarGurus announces its new ad campaign... 'cause buying a car is a Big Deal...

https://t.co/MRQxM2V1wk

[langley steinert @langleysteinert]

Garage parking and in unit washer dryer are the amenities that drive rent the most. Can you live with out them? Great data from https://t.co/mmYHNAJbsg

https://t.co/mOEJR1ulab

[langley steinert @langleysteinert]

I vividly remember the first two years at both TripAdvisor and CarGurus. In both cases we developed products that were almost comically off the mark. But in both cases we huddled with the dev team and created a completely different product. And damn if it didn’t work. Dont be afraid to ditch the fancy business plan when it’s clear that it is not working. Pivot or die…..

https://t.co/uvOnlzQbbU

[ApartmentAdvisor @Apt_Advisor]

In this detailed guide, you'll learn how to set the right rent price for your rental property. https://t.co/mhwblttyXK

[langley steinert @langleysteinert]

Move one stop on the subway line in Boston and save rent on your apartment.

https://t.co/vcEVRYwnKw

[langley steinert @langleysteinert]

What's the right floor for you?

https://t.co/SIt1nUokjp

[ApartmentAdvisor @Apt_Advisor]

In this article, we will look at why residents may withhold rent, the legal framework for rent withholding, and alternatives you can offer before a complaint escalates. https://t.co/GPgWtzVLCC

[langley steinert @langleysteinert]

Apartment tenants, know your rights...

https://t.co/F2HU038JKB

[ApartmentAdvisor @Apt_Advisor]

A move-in or rent special can come in many forms. We discuss the most common move-in specials, as well as what you can expect when you sign on to a lease with a move-in special. https://t.co/Dax3lGMhwN

[langley steinert @langleysteinert]

Start-up rules - Curiosity - Starting a company is a bit like a good puzzle. Do you get discouraged easily or do you enjoy the process of trial and error that is inherent to doing a puzzle. You try a piece and it doesn't fit, you back up and try that piece somewhere else....

One of my favorite parts of CarGurus, TripAdvisor and ApartmentAdvisor is having ideas, devising A/B tests to test those ideas and then waking in the morning to see the data on the A/B test. More often than I'd like to admit the data shows that consumers did not care for the new feature we dreamed up. But even a failed A/B test is a chance to learn something new, formulate a new hypothesis and code up something new.

As you interview people for your company, look for candidates that are curious. Have they shown a history of sticking with projects even when things did not go well. Do they discourage easily or do they show a history of pushing through adversity.

Doing puzzles can be frustrating. But the process of struggling with a puzzle is in fact the joy of doing it. Finishing a puzzle is an accomplishment but struggling with the puzzle is the enjoyment. Start-ups are like that. Make sure you and your team have the curiosity and stamina to enjoy the struggle as that is the best part of start-ups.... finding where all those pieces fit together.

[langley steinert @langleysteinert]

ApartmentAdvisor national rent report - Southeastern cities are seeing significant rent decreases year over year

https://t.co/mdAxHIRD0o

[langley steinert @langleysteinert]

Start-up rules - The power of public relations - As you think about your marketing mix, don't underestimate the power of good, data driven public relations.

In the early days at both CarGurus and TripAdvisor, we created our own in-house public relations (PR) groups to publish interesting cuts on our consumer data and provide it to the press. Distributing compelling data releases around "Top 10 travel destinations for 2020" or "most fuel efficient cars for 2021" generated quite a bit of free press for both brands.

Don't just hire a PR agency, create your own in-house team. Challenge that team to dig into your own data and find interesting insights that you can provide to the press. Most reporters are more than happy to write about a compelling consumer trend if you can provide proprietary, vetted data.

Don't just think about the traditional means of marketing (Advertising, search engine marketing, etc). Invest in public relations - I promise you those dollars will have the highest ROI of any marketing channel in your mix.

[langley steinert @langleysteinert]

States to consider with the lowest rents.

https://t.co/5rIBJBKfBi

[langley steinert @langleysteinert]

Implications of being a co-signer on an apartment

https://t.co/LDamfxMBsp

[langley steinert @langleysteinert]

Start-up rules - It's a marathon not a sprint - When you start a company, know that it is going to be a long journey. There will be ups and downs and the journey will be mostly fun but it won't be a quick sprint.

Occasionally. there is the story book ending of companies like Facebook and Instagram that took off from day one and very quickly became massive hits with Billion dollar valuations. The reality, however, is that most start-ups are a long journey.

CarGurus was an 11 year adventure before we went public. The company did not achieve overnight success but rather it was a long, slow process of building a unique product, growing the audience and revenues.

As it is a marathon, you need to make sure you build your team and adjust your own expectations accordingly. Recently I've read that some start-ups now have stock option vesting of 8 years not 4 years. Put in stock vesting cliffs of one year so that employees that leave early don't take equity with them. Hire employees that are in it for the long haul

Founders also need to make sure they pace themselves. Create boundaries so you don't burn out. I always made it a point to be home for dinner with my kids and spouse each evening. I also prioritized my kids sports games - never missed a game. It is not a sprint, so you have to pace yourself.

Starting a new company is a long journey. Despite the Hollywood scripts about instant start-up fame, it doesn't happen overnight. Make sure to adjust your employees and your own expectations. Get settled in for a long and usually fun journey.