Earlier this month PPW reported on rumours that Zillow might be closing in on a deal to buy rental marketing software maker RentJuice; yesterday Zillow announced its intention to purchase RentJuice Corporation, for $40 million in cash.
This recent acquisition continues to ripple throughout the real estate portal marketplace, perhaps this is a foreshadowing of things to come, after all the demographic that uses these portals would also find it very helpful to use this type of software.
LeaseRunner has seen the proverbial writing on the wall, and in the words of they company’s CEO, Joe Buczkowski:
“Zillow’s acquisition signals that rental housing will continue to grow as a share of the housing market for the foreseeable future and rental leasing will greatly expand as an income source for agents and brokers.
“The need for an integrated web and mobile solutions simplifying the leasing process has never been greater.
“LeaseRunner is experiencing tremendous adoption of its paperless leasing suite, exceeding 40% in revenue growth per month, and will continue to innovate and deliver the most secure, streamlined and flexible solution for brokers, agents and independent landlord.”
LeaseRunner serves consumer landlords as well as property managers and brokers, the service is widely used across 48 states in the US.
This this acquisition might have a catalysing effect, look for accelerated partnerships between software providers like LeaseRunner and property portals.