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RentSpree hits 2 million users on its rental platform

RentSpree hits 2 million users on its rental platformRentSpree hits 2 million users on its rental platform

Summary

RentSpree is proud to announce our latest milestone, doubling our user base to two million users in less than two years.

RentSpree, the industry’s premier end-to-end rental management software provider, is proud to announce we’ve reached two million users on our platform, effectively doubling our user base in less than two years. 

“It took us more than five years to get to the first million mark and less than two years to add the second million,” says Michael Lucarelli, CEO and co-founder of RentSpree. “This is a testament to the power of our platform, our prolific industry partnerships and strong demand for smart rental solutions.”

Since 2017, RentSpree has raised a total of $28 million in Series A and B financings, enabling us to expand our product offerings for agents, landlords, and renters while securing additional strategic partnerships. Our exponential growth—a 598% revenue increase over three years—has also landed us on this year’s Inc. 5000 list of fastest-growing private companies in the U.S. 

RentSpree’s key feature, Tenant Screening, allows agents to view a rental applicant’s entire report in minutes. In addition to tenant screening, we also offer an array of rental solutions for agents, landlords and renters including rental application and e-sign solutions. Our latest offering, Credit Builder, enables renters to opt into having on-time payments reported to one of the three major credit bureaus. 

In July of this year, we achieved a record 485,000 transactions which included running tenant screening reports, adding property listings to the system and renters submitting reviews for agents. And demand for rentals is likely going to increase as mortgage rates continue to hover around 8 percent and housing prices skyrocket. According to a recent study by CBRE, the average monthly new mortgage payment is now 52% higher than the average apartment rent, putting home ownership out of reach for many. 

As the rental market continues to trend upward, RentSpree plans to form new partnerships with key multiple listing services across the U.S. and innovate on our rental management solutions. We’re excited to see what the next couple of years will bring on our journey to simplify the entire rental process for everyone involved.

Cap Rate Calculator

rentspree illustration of calculator

How to use

Enter information in the boxes below to calculate the comparative value of a piece of property in order to determine if it would be a good investment for you.

Property Value

Current market price or listed value
$

Yearly earnings

Anything you make a profit from that has to do with the property
$
$
$
Total A:

$

0.00

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Yearly Expenses

Anything you make a profit from that has to do with the property
$
$
$
$
$
$
Total B:

$

0.00

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Cap rate

0.00

%

Cap rate

$
$

0.00%

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Commission Calculator

How to use

Enter information in the boxes below to calculate the comparative value of a piece of property in order to determine if it would be a good investment for you.

Property Price

$

Commission Percentage

%
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Total Commission

$

0.00

Commission for Each Agent

$

0.00

Total Amount Seller Receives

$

0.00

Rent to Income Ratio Calculator

How to use

Enter information in the boxes below to calculate the comparative value of a piece of property in order to determine if it would be a good investment for you.

Rent-to-Income Ratio Calculator

$
$
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Rent-to-Income Ratio:

0

%

Move-in Move-out Calculators

Move-In Calculator

$
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1st Month's Prorated Rent:

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0.00

Additional Move-In Costs (optional)

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$
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Total Move-In Cost:

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0.00

Move-out Calculator

$
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Move-Out Prorated Rent:

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0.00

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