Homestore's RentNet names new president

RentNet, operated by Homestore, today named its new president, Maria Pietroforte, a 20-year veteran of the multifamily housing industry.

RentNet provides managers and owners with access to an online audience via its network of partners. The company is the exclusive apartment listings partner for AOL and MSN, and the exclusive national listings provider for Yahoo!'s "Featured Listings" section.

Most recently, Pietroforte served as president of KSI Management Corp., one of Greater Washington D.C.'s largest developers. Pietroforte helped launch their new luxury line of apartments known as "The Metropolitans," and pioneered unique marketing programs that differentiated their properties from others. Prior to that, Pietroforte was president of E&S Ring Company, one of the largest apartment managers in Los Angeles.

Pietroforte will be relocating from Washington, D.C., to Westlake Village, Calif., where RentNet is based.

Homestore acquired RentNet.com, formerly SpringStreet.com and AllApartments.com, for $47.4 million in stock. RentNet.com was launched in 1995. According to Media Metrix, the site had an average of 1.38 million unique users each month from January 2004 to May 2004. The site offers listings in about 300 markets across the country, and targets apartment properties with more than 40 units.

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