Cision PR Newswire

RentSpree Celebrates Serving One Million Users on the All-in-One Rental Platform

With Over 6,000% Revenue Growth in Five Years, the Milestone Underscores the Rental Management Software's Value to Agents, Landlords, Property Managers, and Renters Alike 

LOS ANGELES, May 24, 2022 /PRNewswire/ -- RentSpree, the industry's premier end-to-end rental management software provider, today announced it has reached one million users on the RentSpree platform. RentSpree has experienced over 50% user growth in the last year and has helped 600k renters in their search to find the ideal home. 

With a valuation that grew from $620K in a pre-seed round in 2017 to $53M in a 2021 Series A round, the platform has poised itself for continued growth with plans to provide more groundbreaking technology for the rental industry. Additionally, RentSpree's platform revenue has skyrocketed, growing over 6,000% in five years. Beyond that, even despite the pandemic, the company's headcount has grown over 1,000% over the last three years.

"The massive demand we've seen speaks to the power of the platform. Our users value change because change means progress," said CEO Michael Lucarelli. "RentSpree is paving a new way for rental management and the PropTech industry as a whole. We're confident this is only the beginning and we're looking forward to continued growth." 

With just over six years in the industry, RentSpree has put forth many industry-first solutions to aid in the digital transformation of the real estate sphere. During this time, RentSpree has also partnered with three of the top five multiple listing services (MLS) in the United States, including California Regional Multiple Listing Service (CRMLS), First Multiple Listing Service (FMLS), and Bright MLS, along with nearly 250 of the most trusted brands in real estate–like Lone Wolf Technologies. Through these partnerships, RentSpree has been able to help them tackle the rental market with ease and improve the rental experience for all parties involved. 

"Congratulations to RentSpree for this incredible accomplishment," said Jeremy Crawford, CEO and President of First Multiple Listing Service (FMLS). "With over 57,000 of our agents having access to the platform, we are thrilled to see the future of digital real estate continue to take off with RentSpree at the forefront. From contract to implementation in only 20 days, RentSpree has been the fastest product to go live in FMLS's history. RentSpree's Agent Tools is truly invaluable to our team."

This announcement comes on the heels of RentSpree's Agent Tools solution suite launch. The suite houses tools that provide an all-in-one offering for real estate agents that supports holistic rental management, from advertising and nurturing leads to closing deals using PropTech. Notable offerings on the RentSpree platform include:

  • Rental Application - Rental Application allows for easy-view, easy-to-read, and mobile-friendly applications. No need to be tied down to an office or computer to find the best tenants.
  • Tenant Screening - Tenant Screening allows for agents to screen prospective tenants with a comprehensive background check from industry leader TransUnion.
  • Rental Client Manager - Rental Client Manager (RCM) leverages key milestones to help agents provide real estate guidance to clients.
  • Listing Pages - With Listing Pages, RentSpree empowers agents to market their properties with a best-in-class user experience.
  • Agent Profiles - Agent Profiles enable agents to create a personalized profile to promote their experience, feature their expertise, and market their listings.
  • Accept/Deny Letters - Send a congratulatory welcome letter to newest tenants and get off on the right foot, or a standardized denial letter to make it as painless as possible.
  • Rent Payment - Rent Payment ensures all your rental needs can be managed under one roof. RentSpree partners with Stripe to safely deposit payments into your bank account and automates the process to make sure to remind tenants when rent is due.
  • E-Sign Documents - Upload and send documents for fast and convenient signing anytime, anywhere. Agents can stay organized by uploading only the documents needed for the transaction and tracking the signature status.
  • Renters Insurance - Insurance can help avoid issues during the lease. Tenants can purchase renters insurance or submit proof of their policy in one step.
  • Rent Estimate - Rent Estimate helps agents discover similar properties in the area and develop strategies to maximize property values.

This announcement also comes at a time when the popularity of rentals is increasing to address the skyrocketing prices of homes across the country. RentSpree will continue to grow with goals to spearhead the industry's adoption of PropTech and empower agents, landlords, and renters on their real estate journeys. 

For more information on RentSpree, visit rentspree.com.

About RentSpree  
Founded in 2016, RentSpree is an award-winning rental software known in all 50 states for its easy-to-use tenant screening process, renter management, partnership program, and rental screening API. In just six years, RentSpree has grown its database by partnering with over 250 of the most trusted names in real estate and over one million agents, owners, and renters across the country.

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SOURCE RentSpree