Realtor.com selected Rental Beast to power its online rental application, lease processing, and applicant experience initiatives, making a strong statement about the impact of renters on the current market.
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Realtor.com has chosen Rental Beast to power its online rental application, rental processing and applicant experience initiatives, making a strong statement about the impact of renters in today’s market, Inman learned.
In a Nov. 14 press release, the companies announced that they would jointly build this relationship to make it easier for brokers, property managers, and landlords to attract and approve homeownership for those who cannot yet crack or choose not to crack homeownership. Marketing said.
“In today’s competitive rental market, securing a rental property can be a daunting task. The partnership between Rental Beast and Realtor.com leverages Rental Beast’s robust application platform to streamline the process. We aim to alleviate this challenge by streamlining, reducing approval times and improving the overall user experience,” the release states.
Rental Beast is a comprehensive rental real estate solution that helps everyone involved in renting residential space with an efficient and modern system for working with consumers. We handle critical operational needs such as tenant screening, streamlining operations, apartment search and matching, unit marketing, agent training, and many more.
The company also develops MLS-specific software, which likely led to the decision to partner with Realtor.com. In a 2023 report created by Rental Beast to examine the state of MLS rental efforts, 61% of agents surveyed said they were unsure whether their MLS was focused enough on rentals. I haven’t thought about it,” he replied.
This is a problem that Rental Beast’s competitors have also been grappling with for years. RentSpree has built relationships with MLSs across the country to encourage agents to consider renters as potential buyers and market themselves to property management companies’ core customers.
As the housing market remains depressed for the third year in a row due to inventory shortages and uncertain interest rates, more renters are embracing the idea that leasing offers more flexibility than mortgages. Still, typical market dynamics are driving rental decisions, according to a recent study from Realtor.com.
According to the report, 82% of renters say the economy is having an impact on their housing plans, and a whopping 71% of renters say they’re worried about low down payment savings (61%) and high interest rates. It turns out that most respondents said they would not buy a home in the next 12 months. rate (42 percent).
In summary, Realtor.com’s decision to move forward with a formal online rental solution should pay off for all parties, especially renters.
“We are excited to work with Realtor.com to bring new levels of efficiency and transparency to the rental application process,” Ishay Grinberg, founder and CEO of Rental Beast, said in a press release. Ta. “This partnership aligns with our mission to simplify the rental experience, help renters find their ideal home faster, and empower agents to deliver even more value to their customers. .”
Realtor.com says much the same thing about purchasing new software. Cliff Johnson, the search portal’s vice president of leasing, believes the partnership will further increase efficiency and visibility.
“Our relationship with Rental Beast strengthens our commitment to providing our renters with the best tools and resources. By streamlining the application process, we remove barriers and make the rental journey as smooth as possible for our users. “We aim to do that,” Johnson said.
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