SANTA CLARA, Calif.,
Dec. 15, 2020 /PRNewswire/
-- Move, Inc., the operator of realtor.com®, a
leading online destination for real estate services, announced
today it has acquired Chicago-based Avail, a platform that improves
the renting experience for do-it-yourself landlords and tenants
with online tools, educational content, and world-class support.
Move, Inc. is a subsidiary of News Corp.
The Avail acquisition helps realtor.com® further expand into the
rental space with support for landlords and renters.
Residential rentals comprise a large market in the U.S.;
according to an analysis of American Community Survey data from the
U.S. Census Bureau, people spend more than $500 billion per year on rent in this country,
and DIY landlords (landlords with 1-20 units, often in addition to
a full-time job) own and manage about three quarters of all the
rentals in the U.S.
The acquisition helps realtor.com® further expand
into the rental space, extend its support for landlords, augment
current rental listing content, grow its audience and build brand
affinity and long-term relationships with renters.
The Avail online and mobile platform brings together the
workflow tools that help independent landlords manage rental
properties more easily and efficiently, almost all of which are
free; more than 90 percent of landlords use the Avail free product,
while some landlords upgrade for premium functionality and
customizations. Landlords use the Avail platform to create and
market rental listings, screen applicants, access state- and
city-specific lease agreements, process payments and track
maintenance requests. The platform also offers tools for renters,
including easy ways to complete rental applications, sign leases,
pay rent, submit maintenance requests and access related products
and services like renters insurance.
"This acquisition is a key part of our strategy to make finding
a home easier and more rewarding," said David Doctorow, CEO of
realtor.com®. "We believe that Avail is uniquely
positioned to meet the needs of the DIY landlords and tenants in a
large, growing and underserved market. By combining Avail's rentals
listing content and easy-to-use tools with
realtor.com®'s large audience, consumer experience
platform and insights, we believe we can deliver more value to DIY
landlords and tenants. I'm excited about what the tremendous team
at Avail will add to the talented staff here at
realtor.com®."
Avail is experiencing incredible growth in the market despite
the Coronavirus pandemic, as more landlords move their rental
businesses online and consumers look for contactless rental
opportunities, especially with online rent payments.
"We are excited about joining the team at
realtor.com®, and see this acquisition as a tremendous
opportunity for our customers," said Avail CEO Ryan Coon. "Leveraging realtor.com®'s
industry expertise and scale will allow us to expand our platform
capabilities and offerings so we can continue to deliver
high-quality services, tools and education to even more landlords
and tenants."
Coon, Avail co-founder Laurence
Jankelow and the company's 30+ person team will join Move,
Inc. Terms of the acquisition were not made public.
About realtor.com®
Realtor.com® makes buying, selling, renting and living
in homes easier and more rewarding for everyone.
Realtor.com® pioneered the world of digital real estate
more than 20 years ago, and today through its website and mobile
apps is a trusted source for the information, tools and
professional expertise that help people move confidently through
every step of their home journey. Using proprietary data science
and machine learning technology, realtor.com® pairs
buyers and sellers with local agents in their market, helping take
the guesswork out of buying and selling a home. For professionals,
realtor.com® is a trusted provider of consumer
connections and branding solutions that help them succeed in
today's on-demand world. Realtor.com® is operated by
News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,
Inc. under a perpetual license from the National Association of
REALTORS®. For more information, visit
realtor.com®.
About Move, Inc.
Move, Inc., a subsidiary of News Corp
[Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV], operates a family of
websites and mobile experiences for consumers and professionals,
including realtor.com®. Move also offers software
products and services to help real estate professionals serve their
clients and grow their business, including ListHub™, the nation's
leading listings syndicator and centralized intelligence platform
for the real estate industry; and Top Producer®
Systems.
About Avail
Founded in 2012, Avail is the first and
only online platform for independent landlords and tenants that
provides the tools, education, and support to make renting easy.
Landlords across the U.S. use Avail to advertise vacant units,
request rental applications and credit reports, sign leases, and
collect rent — all online. Learn more at www.avail.co.
Media Contact
Stephanie
Singer
Stephanie.Singer@move.com
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SOURCE realtor.com