Skip to content

Summer ☀️

try your home before you buy it

setting the scene

  • every summer you find yourself paying top dollar for your rental in the Hamptons 🌊
  • all the money you’ve spent over the years practically adds up to a down payment on a house 😳
    • maybe you should’ve just purchased a home at the start 😥
  • but what if there was a way for all that rental money to go towards purchasing a property?💡
  • this week’s company innovates the process to rent and buy a home 🏡

in a sentence

Summer is a real estate platform that allows prospective homebuyers to try a property before they buy it and offers homeowners property management services

  • try: Summer purchases the home and the customer pays a refundable downpayment + monthly subscription
    • members get exclusive access to rent homes in Summer’s portfolio
  • buy: in three years or less, the customer can choose to own the home
    • the downpayment + 50% subscription payments go towards the purchase
  • management: when customers aren’t using their homes, Summer acts as the property manager by renting out the home and covering operational costs

bulleted version: similar to how you pay a monthly fee when leasing a car with the option to buy it from the dealer; Summer collects subscription fees and allows customers to buy the house within three years 🚗

the basics

Summer app interface

sponsored by 

  • do you want to learn and access the best tools and resources to turn your startup idea into something tangible?
  • Founders’ Book offers a single workspace for building and growing your startup, so you can save up to $500K in credits and benefits from 200+ SaaS platforms
  • use the code “BulletPitch” and save 30% on all the plans; get founders’ book now

due diligence

what we like

  • ⬇️ lower costs: home ownership is a significant driver of wealth, and Summer makes real estate investing more accessible
    • check out their economics here 
  • 🚶‍♀️easy process: Summer’s features take out the hassle of choosing, buying, renting, and maintaining a second home
  • 💲high customer value: once customers purchase a second home, Summer can continue to engage them with property management solutions

potential risks

  • ❓too many features: Summer is a rental, home buying, and property management platform; is the company taking on too much at once?
  • 🏡 buying homes: Summer’s model is capital-intensive, as they purchase homes and offer customers flexible ownership options
    • additionally, their valuation is dependent on home price appreciation
  • 2️⃣nd home ownership: while Summer is lowering the cost for second home ownership, barriers to owning a first home remain unaddressed
weekly cartoon

founder profiles

comps

why Summer: Summer’s rent-to-own process is an innovative way to buy a second home while paying less upfront, earning equity faster, and allowing customers to walk away; this company has positioned itself to be a home-run in the rentals market ⚾️

what do you think about this startup?

we want to hear from you!

Login or Subscribe to participate in polls.