Roofstock is rapidly expanding its product portfolio to provide an end-to-end platform for real estate investors.
Oakland, California, August 4, 2022 /PRNewswire/ — Roofstock, the leading digital platform for buying, selling and managing single-family rental (SFR) investments, has announced the acquisition of RentPrep, a tenant screening company used by more than 100,000 landlords. This transaction follows Roofstock’s recent acquisitions of Greater Jones and Stessa, as Roofstock offers technology-enabled solutions designed to invest in 4 trillion dollars The SFR market is accessible and efficient for both individual and institutional investors.
Approximately 30 percent of single-family rental homes in the U.S. are available for rent each year—a total of more than five million homes. When a home becomes vacant, property owners need to quickly place quality long-term tenants to secure steady rental income, but tenant screening has historically been a very manual, tedious process. RentPrep is a comprehensive, digital tenant screening company that enables landlords and property managers to efficiently conduct credit, criminal and other background checks. The unique model allows the technology to work with certified investigators to ensure that the information provided to landlords is not only fast, but also accurate and compliant with the Fair Credit Reporting Act (FCRA). Individual investors can order screening reports from RentPrep’s website, and property management clients can integrate RentPrep with their own solutions using RentPrep’s APIs.
“RentPrep is digitizing the tenant screening process and finally providing a technology solution where innovation is lacking,” he said. Gary Beasley, CEO and co-founder of Roughstock. “The company is a natural fit for Rofstock as we continue to expand our platform to provide best-in-class solutions to investors at all stages of the property ownership lifecycle.”
Managing a single-family rental home or portfolio of homes can be more challenging for many investors who live hundreds or thousands of miles away from the property. Roof Stock empowers investors of all levels and sizes to buy, sell and own rental properties in a digital, user-friendly and data-driven way. RentPrep builds on Roofstock’s deep tech-enabled services for real estate investors, making Rooftop a true one-stop shop for SFR investors.
“Roofstock has a proven track record of making real estate investing simple, accessible and fully digital, which is critical in today’s fast-paced market,” he said. Steve WhiteCEO and founder of RentPrep. “We are excited to join Gary and his team to build on the company’s recent initiatives and enable property owners to place new tenants with confidence.”
RentPrep is Roofstock’s third acquisition and fourth in less than two years since its inception. Last year, the company acquired Stesan, a free online investment management solution for real estate investors, as well as tech-enabled property manager Great Jones, which Roofstock integrated into its fast-growing property management service, which now has more than 16,000 properties under management. Roofstock intends to build on this momentum and will continue to seek strategic M&A opportunities that expand its technology, data and asset management capabilities.
This news closely follows Roughstock’s recent Series E funding announcement that the company raised 240 million dollars closely 2 billion dollars Evaluation. Since its inception, Roofstock has facilitated more 5 billion dollars In the volume of transactions on its platform, including transactions of both individual investors as well as some of the largest portfolio transactions of institutional owners.
To learn more, visit RentPrep.
About the roof stock
Roofstock is a leading platform that supports investors throughout the entire property lifecycle. 4 trillion dollars Single Family Rental (SFR) sector. Its innovative technology and software have leveled the market playing field, enabling existing and new investors across the US to maximize opportunities and achieve greater rewards through a customized, transparent and digital experience. The company provides extensive resources for institutional and retail investors to buy, manage and sell investment real estate online. In the year Founded in 2015 and recently named to the Forbes 2022 list of America’s Best Startup Employers and a member of the Forbes FinTech 50 for the fourth year in a row, Roof Stock 400 million dollars With investors such as Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, SVB Capital and SoftBank Vision Fund 2. A recently-minted protech “unicorn” with almost 2 billion dollars valuation, Roofstock facilitated over 5 billion dollars Transactions on his platform to date.
RentPrep is a national provider of tenant screening and background check services for individual and institutional real estate investors. RentPrep streamlines and automates the process of selecting high-quality tenants by empowering investors with FCRA-compliant screening reports. Individual investors can easily order tenant screening and background check services from RentPrep’s website, while large institutional organizations can use RentPrep’s APIs to integrate screening services directly into their own platforms. The company is ranked by Inc. in the tenant screening category. 5000 list and is a recipient of the USCTRI Excellence Award for being a role model for customers and the entire rental industry. Founded in 2007, RentPrep has done more than 2 million inspections 160k Investors since its inception.