Wolo: The real concern for property owners is ‘tenant squatting’
Wolo, a platform founded by Oriol Sanleandro and Jordi Cucala, with the support of the investment group 101 Ventures, has established itself as one of the leading companies in the long-term rental market in Spain. With a clear focus on digitizing processes and customer service, the company aims to offer innovative solutions for property owners and tenants. After gaining experience in sectors such as mobility (Cabify) and food delivery (Take Eat Easy), Oriol Sanleandro, CEO of the platform, has brought his expertise to the real estate sector to transform the rental experience in the country. In this interview, he shares Wolo’s vision, its proposal, and insights on the sector’s current challenges and key factors for its evolution.
After your experience in the mobility sector with Cabify and in food delivery with Take Eat Easy, you moved into the real estate sector. What differences did you find in this industry, and what attracted you to this change?
Moving into the real estate sector was a natural evolution in my entrepreneurial journey. At Cabify and Take Eat Easy, I discovered the power of technology to transform traditional industries, and in real estate, I saw a similar opportunity. While digitalization had already begun revolutionizing business models in mobility and food delivery, I found a highly fragmented market here, where operations were scattered and still relied on manual, inefficient processes.
What attracted me to this change was the opportunity to apply everything I had learned in Silicon Valley and in my previous experiences to develop a platform that simplifies and enhances the user experience, optimizing all processes involved in renting a property. At Wolo, we have successfully combined advanced technology with a strong customer service orientation, offering solutions that not only streamline the process but also build trust and security for both parties.
What sets Wolo apart from other platforms, both in terms of technology and the additional services provided to tenants and property owners?
Our value proposition is clear: we eliminate the uncertainty of renting for both property owners and tenants. We achieve this by combining technology with a comprehensive service model. We digitize the entire selection, contracting, and payment guarantee process, ensuring speed and transparency. However, what truly defines us is how we enhance human expertise with technology: behind every contract, there is a professional team overseeing every detail, from tenant selection to handling issues, backed by technological tools that multiply efficiency.
For property owners, the key difference is how we align interests. With our Guaranteed Rental service, we not only assume the risk of non-payment, but we become strategic partners: if the tenant doesn’t pay, we do. This forces us to be rigorous in selection, using predictive algorithms and thorough verifications, because our success depends on theirs. Unlike a traditional real estate agency, which charges for finding a tenant and then disengages, or a non-payment insurance that acts reactively, at Wolo, we work proactively to prevent problems from the start.
After closing the €1.5 million investment round in 2024, what specific projects have already benefited from this capital? How has it helped drive the company’s growth and expansion?
The capital injection has been a real catalyst for our growth. With the €1.5 million investment, we have strengthened our technological infrastructure, allowing us to optimize and expand our platform with new functionalities that improve both user experience and contract and property management efficiency. Additionally, we have strengthened our team of real estate advisors and customer service specialists, leading to a more personalized and approachable service.
Thanks to this capital, we have accelerated our expansion, now operating nationwide, and have launched new services and business lines, solidifying our market position. All of this reflects the excellent momentum we are experiencing, though we recognize there is still a long way to go.
The long-term rental market is undergoing significant changes, with increasing demand and limited supply in certain areas. How does Wolo view the current situation, and what solutions do you propose to address these challenges?
The current state of the long-term rental market in Spain is, unfortunately, the result of poorly designed public policies that have prioritized votes over rigorous analysis and effective solutions.
When a market is intervened without understanding its structural dynamics, the effects are often the opposite of what was intended. Price controls and certain modifications to the Urban Leases Law (LAU) have had a perverse effect: instead of protecting tenants, they have drastically reduced the available supply and driven up prices in high-demand areas. Unfortunately, this is no surprise. Industry experts had already warned about it, and it is a phenomenon observed in Catalonia with its 2020 Urban Leasing Law, as well as in countries like Germany or Sweden, where rent controls ultimately drove small property owners away, negatively impacting both supply and prices.
At Wolo, we believe that the solution is not to demonize property owners, most of whom are families who rely on rental income for their retirement or future savings, but rather to incentivize supply intelligently. To achieve this, we consider regulatory and tax stability crucial, which means offering tax incentives to those who rent out properties long-term, especially small landlords. A successful example is Portugal, which increased its rental supply by 15% after exempting low-income rental properties in high-demand areas from taxation.
It is also essential to ensure real and not just theoretical protection by establishing agile mechanisms to resolve conflicts, such as “inquiokupación,” and by safeguarding the rights of both parties. Additionally, supporting renovation efforts by linking public aid to property maintenance and improvements would benefit tenants, landlords, and the overall housing market.
“The current state of the long-term rental market in Spain is the result of poorly designed public policies.”
At the same time, it is urgent to learn from international success cases. In Argentina, after lifting restrictive regulations in 2022, the rental market rebounded with a 20% increase in supply in just six months. In Ireland, REITs (real estate investment trusts), with tax benefits tied to long-term contracts, have partially balanced demand in Dublin.
At Wolo, we strive to be part of the solution. Our Guaranteed Rental model not only protects property owners from non-payment but also restores their confidence to put their properties on the market. Restoring balance will not be quick, but it is possible if policies are based on evidence rather than ideology. In the meantime, we will continue demonstrating that when incentives are aligned and technology is combined with common sense, complex problems have realistic solutions.
Does Wolo offer any guarantees to property owners in terms of contract compliance and protection against illegal occupation? Is there a tenant selection process to help prevent such issues?
The real concern for property owners is not so much illegal occupation but tenant squatting. This term refers to tenants who, after signing a legal contract, stop paying rent and, due to slow judicial processes and excessive tenant protections, can remain in the property for over 20 months without paying. In many cases, the owner is forced to maintain utility payments and may even continue paying the mortgage, facing absurd and frustrating situations. On top of this, such tenants often cause significant property damage.
To tackle this issue, we have implemented a rigorous tenant selection process using advanced scoring and risk analysis systems to ensure the best profiles are chosen. And if, despite all these precautions, a non-payment occurs, our Guaranteed Rental service ensures the owner receives timely rent payments indefinitely until they regain possession of the property. Additionally, we cover legal expenses, potential property damage, and handle all communication and negotiation with tenants, providing total peace of mind to our clients.
“We are developing systems that speed up tenant selection and improve rental predictability.”
Experts point out that the supply of long-term rentals in Spain has been steadily decreasing over the past three and a half years, while seasonal rentals have significantly increased. How does this trend affect Wolo’s business model?
We have closely followed the growing trend of temporary rentals and room rentals, but in our view, this phenomenon is more of a response to circumvent the restrictions imposed by recent LAU modifications than a real market demand.
For this reason, we remain committed to the long-term rental model. With the right policies in place, this segment will not only recover but also grow, aligning with the levels of more housing-advanced European countries.
Looking ahead, what are Wolo’s next steps in terms of expansion or new service developments? Any short- or medium-term updates?
Our future focus is on automation and scalability. We are developing AI-powered systems to optimize tenant selection and improve rental predictability.
These initiatives ensure that Wolo continues to be a benchmark in the long-term rental market.