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RentSpree has partnered with another multiple listing service, this time linking up with the 11,000-member Jacksonville, Florida-based realMLS, according to a March 21 announcement sent exclusively to Inman.
The technology company, centered on bettering the rental industry, has been pushing into the MLS sector partly to change the way residential sales agents view renters. It intends to help agents better support renters as aspiring buyers. Naturally, RentSpree’s end-to-end leasing solution offers value to MLS members who already work with investors, landlords and in property management.
Looking at long-term opportunities from the rent sector is critical, realMLS’s CEO Nicole Jensen said in a statement.
“One of our key focuses is to support a healthy marketplace by integrating high-quality technology and thus providing our members with access to reliable data and services,” said Jensen. “This includes providing effective and efficient tools for rental transactions.”
RentSpree’s full integration with realMLS includes the instant creation of an ApplyLink for rental listings, which supports members in generating more leads, cutting down transaction time and increasing returns, according to the announcement. ApplyLink is a RentSpree feature that launches its experience by expediting applicant data capture, application workflow and augments property exposure.
Technology services in the rental sector are booming, with innovations emerging to serve institutional single-family rental investors to first-time mom-and-pop landlords. The tone in the overall market is that housing prices will remain high, creating a flood of long-term renters, even in the face of declines in monthly rent.
However, Florida, where RentSpree has carved a number of inroads, has bucked the rent trends.
“Florida continues to be one of the highest-priced rental markets, with Miami leading the way, driven primarily by continued strong demand, according to a number of studies such as a recent report from Florida Atlantic University,” RentSpree said.
That study found that “renting beats buying in many parts of the U.S.”
“Traditionally homeowners have been able to build wealth faster than renters, but those who rent can still build a sizable nest egg if they are disciplined,” said Eli Beracha, Ph.D. and co-author and Director of Florida International University’s Hollo School of Real Estate, in a report by Florida Atlantic’s newsdesk. “In order to replicate equity creation, renters should invest the money they otherwise would have spent on maintaining their homes.”
RentSpree is based in Los Angeles and was ranked No. 625 on the Inc. 5000 Fastest-Growing Private Companies in America in 2022. It has partnered with more than 250 MLSs, according to the announcement.