According to the Harvard Joint Center for Housing Studies, more than 50% of residences in the U.S. are over 40 years old, and 80% are 20 years old or more. For real-estate expert and PropTech founder Mohammad Shwiqi, meeting our nation’s housing needs means updating this aging inventory.
“It’s an understatement to say American cities have long struggled to provide an adequate amount of affordable housing,” Shwiqi says. “Most officials in metro areas and urban planners assume that the solution is to construct new buildings. But aging homes are actually an important part of the supply. If we fail to maintain or upgrade these structures, we not only lose supply but also affordability and neighborhood stability. From my perspective, modernizing existing homes and buildings is where the real opportunity lies.”
The renovation industry has long been plagued with barriers and bottlenecks, however. That’s why Shwiqi has founded a groundbreaking new platform, currently in development, that simplifies the entire renovation process.
Bringing Consumer Protection to the Renovation Industry
“The renovation industry has required a renovation itself,” Shwiqi says. “The entire pipeline — from initial sketch to final payment — has needed to be rethought.”
In particular, Shwiqi’s experience in the real estate industry taught him the importance of identifying trustworthy partners for all concerned.
“All too often, property owners shy away from doing renovations because they are afraid they can’t trust the workers or contractors to do the project correctly,” he notes. “Up until now, there has been no way to vet this kind of labor or certify these professionals.”
Shwiqi’s forthcoming platform will enable property owners to share their experiences with different contractors to better inform others. “This is an important consumer protection element,” Shwiqi says. “Prospective clients can check out the reviews and find people they feel comfortable working with, which means they’ll move forward with projects that otherwise might have seemed too daunting to attempt.”
At the same time, this feature gives talented workers the dignity and respect they deserve.
Helping Independent Tradespeople Build Careers
“When independent tradespeople establish a positive track record on the platform, they will be able to attract consistent work and gain greater and greater visibility within their local community,” Shwiqi says. “They become trusted authorities in their line of work, which gives them greater control and empowers them to build their careers.”
Shwiqi also enables contractors to share their experiences with individual property owners, incentivizing their good faith, as well. “Within the real estate community, one hears horror stories about good people who got stiffed,” he says. “My platform will shine a light on any dubious practices like these and help workers avoid unreliable customers.”
Bringing Escrow Accounts to Renovation Projects
Shwiqi’s platform also gives clients the option of putting their funds in escrow until notable benchmarks have been met or a project is completed satisfactorily.
“This gives peace of mind to both parties,” Shwiqi says. “The contractors know the funds are actually there, waiting for them. Meanwhile, the property owner knows the contractor has a motivation to finish the project and do it well, which is particularly important for property owners who may not have a lot of time or won’t be able to frequently visit the site for any particular reason. They can feel safe, knowing controls have been put in place to protect them.”
Coming Soon: Shwiqi’s Platform
Shwiqi’s platform is currently under construction, but it will be piloted soon in Boston.
“This initial pilot will last four to six months,” Shwiqi says. “It will help us assess how well the tool is fulfilling its core functions and flowing operationally. After making any adjustments, we will expand the app to include more cities.”
In addition to helping independent laborers connect to eligible renovation projects, Shwiqi is creating jobs on his own team. The app’s team currently includes experts on user experience as well as legal advisors.
While the application has yet to undergo a formal funding round, Shwiqi has presented the platform to the investors, founders, and business leaders of the Harvard Innovation Labs.
“I’m happy to say that lots of people got excited,” Shwiqi says. “I’ve even been able to have some informal conversations about the possibility of funding. We’ll undertake a structured funding round when the pilot in Boston gets off the ground.”
Digital Infrastructure That Makes Renovations Easy and Stress-Free
Shwiqi’s solution isn’t just a job board. It’s an entirely new layer of digital infrastructure that ensures accountability and establishes trust.
“I designed the system to promote safety, transparency, and oversight for everyone involved,” Shwiqi says. “Ordering renovations should be as easy and stress-free as ordering a package from a reliable online distributor. With this platform, it soon will be.”
