- Student accommodation tech start-up Hybr backs “mixed living” between students and older age groups – a model that’s had success in Europe.
- “Older and younger people are two of the loneliest groups in society. Mixing tenants can create a well-rounded community when done right,” says 25-year-old founder Hannah Chappatte.
- Hybr was founded in 2020 to fix the “toxic” student rental market by Hannah who experienced the nightmare of student renting first-hand.
- In 12 months, its revenue grew 1,456% & the number of rooms it listed grew by 18 times. Since it was founded in 2020, it has generated over £10m in sales for landlords. It is growing fast and launching a £1.5m seed round in spring.
Housing students and older generations together would help fix the “broken” student rental market, says the CEO of a student accommodation platform shaking up the market.
Hannah Chappatte, who founded Hybr in 2020 when she was just 22, said “mixed living” rentals, popular in parts of Europe, benefit both groups and help tenants feel less lonely.
Hannah started Hybr to fix the “toxic” student rental market and has seen it grow exponentially in the past year.
“There’s a myth that all students ruin houses and upset their neighbours,” says Hannah, now 25. “That may be true for some but most enjoy balanced lives, and with the cost of living crisis students are there to get their degrees and focus on their career prospects.
“Mixing tenants can create a well-rounded community when done right. Older and younger people are two of the loneliest groups in society. Mixing ages gives residents a sense of purpose – students can support more elderly neighbours with tasks around the house, and older residents can offer a sense of home, and help students integrate with their new, local community.
“Housing mature students with professionals opens up more availability, can help struggling university towns and has been proven to improve the vibrancy of buildings’ communities.
“This is exactly what we are pushing for at Hybr: mixing tenant types and bringing on supply that wasn’t previously available to students, by offering landlords carefully selected and pre-vetted student profiles that match the building’s community.
Why is the student market a good place to be? The education market is recession-proof as the government pays students to continue renting even in times of economic downfall. And, people often upskill in times of economic crises.
Hannah studied at the University of Bristol. She started Hybr after experiencing the anxiety of finding a place to rent, while hearing from students across the UK struggling to find housing, with no clear place to compare housing options or get renting advice. And, over 70% of students never hear back after enquiring after a property.
Hybr aggregates all available homes in one platform and offers 1st time renters a curated rental journey with all the support they need at every step. Hybr collects data points from students to best match them with reputable landlords who have suitable homes. The result is a fix to the “toxic relationship” between the two groups, saving both sides time and money, and ultimately making the rental market more efficient.
In the past 12 months the number of rooms listed by Hybr has grown 18x and it has just expanded into six cities. It is bringing on an additional 100,000 rooms over the next three months. It has helped over 20k students to date.
From Quarter 4 2021 to Quarter 4 2022 Hybr grew its revenue by 1,456% and vastly expanded its “student community”. And, it has generated more than £10million in sales for its landlords.
In January 2022, Hybr raised £920,000 in a pre-seed round and it plans to raise another £1.5million this spring to expand the product across the UK that matches students to landlords whilst providing the support students need at every step of their rental journey.
Hybr was helped in its early days with a £5,000 grant from a University of Bristol start-up competition, £10,000 from Montagu Evans’ “Disrupter in Real Estate” Award and funding from the Princes Trust. Hybr also won its category as Best Startup and Best Residential Agent in Bristol in 2022.
