Rent.com.au (or simply Rent) is an Australian-based company that runs rent.com.au, a dedicated Australian rental property portal. It is listed on the Australian Securities Exchange as ASX:RNT.
History Rent.com.au was established in 2007 to address a gap in the market for a real estate portal that specifically catered to the needs of Australian renters. For the first two years, the company focused on developing a website front end and ensuring sufficient property listings content was available to provide renters with the widest choice of rental properties possible. To achieve this, Rent.com.au integrated with over 60 different real estate software providersRent.com.au June 2016 Operating Update between March 2007 and March 2015, allowing real estate agents to automate property listings onto rent.com.au.
Rent.com.au was one of a few portals that allowed private landlords (those not using a real estate agent) to list their properties on the site. Early revenues were low and derived mainly from property listing fees and other advertising sources.
In 2018 Rent.com.au launched its mobile app in both the Google and Apple app stores.Rent.com.au Q4 FY18 ASX Announcement
Rent.com.au Limited began trading on the ASX on 23 June 2015Rent.com.au-Commencement of Trading on the ASX & Trading Update with an initial market capitalisation of $17.5 million.
In the first six years since its initial ASX listing, Rent.com.au has raised a further $24 million across several capital raisings, with significant investors including Charles Tarbey (chairman of Century 21 real estate) and Bevan Slattery (Australian technology entrepreneur).
Products and revenue model
From 2013, Rent.com.au began offering products designed to help renters apply for and move into properties, including identity verification and background checking product RentCheck. In 2019 the company announced it had launched a utility connection service called RentConnect, currently partnered with Origin Energy.Rent.com.au and Origin Energy form Strategic Partnership ASX Announcement
In late 2016 Rent.com.au launched its Renter Resume online profile and application system,Rent.com.au Launches Renter Resume which, together with the Pet Resume feature, more than 1 million people had used by 17 February 2021Trading Update: 1,000,000 Renter Resumes Created ASX Announcement to make their rental experience easier.
In May 2021, the company extended its reach into the tenancy period with the launch of its RentPay platform,New RentPay Platform Launched to the Public ASX Announcement which gave renters the ability to control their rental payments. RentPay allowed them to set when and how much they paid in rent whilst ensuring the agent or landlord received the correct rent on time.
Rent.com.au's main focus is renter products, which account for approximately 50% of its revenue.Rent.com.au Financial Report 30 June 2020 The remaining primarily comes from advertisers wishing to access this renter audience.
References
External links
Regal & fox The Best Property Acquisition Team in VIC