Market Outlook, Real Estate Investment
PRnewswire | July 31, 2023
RentSpree, the industry's premier end-to-end rental management software provider, today announced its latest partnership with OneKey® MLS, the largest multiple listing service in New York, to bring its services to the organization's more than 50,000 members.
RentSpree's full integration on the OneKey® MLS platform will facilitate the instant creation of an ApplyLink™ for rental listings, which supports members in generating more leads, cutting down transaction time, and increasing returns. The new integration makes it easy by allowing OneKey® members to command the entire rental process easily and efficiently.
"Our partnership with RentSpree fits our organization's vision to go beyond what is expected to provide our subscribers with access to the tools they need to compete and stay relevant in a rapidly changing business landscape," said OneKey® MLS CEO Richard Haggerty. "We are deeply committed to supporting our subscribers in all critical areas of real estate. OneKey® MLS is proud to provide a flagship rental tool that easily satisfies fundamental housing needs for Long Island, New York City and the Hudson Valley region."
The U.S. rental market continues to be driven by high demand and a lack of available housing, resulting in nearly two years of median rent growth, according to data from Rent.com. More than 66 percent of states experienced yearly rent growth in May, with New York being among the 10 biggest gainers.
"I'm beyond excited to partner and deliver value for both subscribers and consumers across the OneKey® footprint," said RentSpree Co-Founder & CEO Michael Lucarelli. "We love to work with leaders like Richard who can easily recognize and address important needs in one of the hottest rental markets in the U.S."
He added, "As we seek these types of collaborations, we continue deploying solutions that go well beyond our best-in-class rental screening services. These focus on maximizing agent earnings, building branding, and automating all rental-related processes."
Los Angeles-based RentSpree is a provider of award-winning rental software that helps seamlessly connect real estate agents, owners, and renters to simplify and automate the entire rental process, from listing to lease. The all-in-one platform is known across all 50 states for its easy and secure interface and suite of rental tools, including tenant screening, rent payments, marketing and renter management. To date, RentSpree has partnered with more than 250 of the most influential MLSs, real estate associations and brokerages to serve over one million users in the U.S. RentSpree has been ranked on Inc. 5000's fastest-growing private companies in 2022. Visit RentSpree.com for more information.
About OneKey® MLS
OneKey® MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving 50,000 REALTOR® subscribers and 4,500 participating offices throughout Long Island, New York City, and the Hudson Valley. OneKey® MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.
Real Estate Investment
PRnewswire | August 21, 2023
Roc Capital Holdings LLC ("Roc360", the "Company"), a vertically integrated platform for residential real estate investors and a leading originator of business-purpose loans, and Temasek, a global investment company headquartered in Singapore, today announced the launch of Roc360 Real Estate Income Trust Inc ("Roc360 REIT").
The externally managed mortgage REIT will invest in business purpose loans for residential real estate investment properties principally originated by Roc360. Since its founding, Roc360's core focus has been to connect the highly fragmented business of residential investment property lending with institutional capital through an "originate-to-sell" business model. The formation of the Roc360 REIT establishes Roc360's presence as an asset manager, which will enable the Company to further diversify its base of committed capital to enhance the certainty of capital for its borrowers.
"As demand for our assets has increased, we view the Roc360 REIT as an opportunity to secure more funding for our customers by diversifying our range of capital sources," said Arvind Raghunathan, Ph.D., Roc360 Founder and Chief Executive Officer. "We are honored to partner with Temasek on this important endeavor, which will have a beneficial impact on our customers' ability to scale their businesses in combating the shortage of affordable, energy efficient homes in this country."
The partnership between Roc360 and Temasek highlights the continued interest in US residential real estate from the international investor community. "This year, we have taken a number of steps to grow our origination capabilities both organically and via acquisitions. As such, we view the Roc360 REIT as a natural extension of our platform, which binds best-in-class origination capabilities and diverse, committed and scalable capital through technology and data which provides our borrowers certainty of execution and a streamlined process. We are excited to provide an alternate funding model for this segment of the industry outside of whole loan purchases and securitization markets," said Maksim Stavinsky, Co-Founder and President of Roc360.
In addition to the REIT, Roc360 will maintain and expand its existing loan purchase programs and asset management solutions to accommodate its growing origination footprint.Deutsche Bank Securities Inc. served as sole structuring agent for this transaction.
Roc360 is a leading financial services platform for residential real estate investors, providing vertically integrated solutions, including lending, servicing, insurance, and valuation. Founded in 2014 by Arvind Raghunathan, Maksim Stavinsky and Eric Abramovich, Roc360 employs over 300 people and its wholesale and retail brands have funded in excess of $25 billion in loans throughout the United States since inception. The company is headquartered in New York City with offices on three continents.
Real Estate Technology
PR News Wire | August 31, 2023
As the race to maximize AI across nearly every industry continues, TurboTenant, the leading all-in-one landlord software, recently launched a feature that harnesses AI to allow landlords to craft their rental listings. Powered by OpenAI, this new tool simplifies one of rental property management's most significant challenges.
When landlords enter basic property information, TurboTenant's AI Property Description personalizes a captivating listing description in less than five seconds.
Leveraging open-source data to pull in unique qualities that appeal to today's renters, the AI professionalizes listing descriptions and streamlines the marketing process to find quality tenants. Plus, this AI is trained to comply with the Fair Housing Act — a major win for landlords everywhere.
"Generative AI tools such as ChatGPT are like magic. You ask AI to do something, and the tool easily completes your task," said Max O'Rourke, Senior Product Manager at TurboTenant. "That's a big reason we built the AI Property Description feature with OpenAI — we want our landlords to feel like magicians when they create a new listing."
The free AI Property Description feature is the latest update to TurboTenant's versatile rental property management platform. Listings are a landlord's first chance to catch potential tenants' eyes, and this latest feature simplifies the process significantly.
According to a recent Forbes Advisory survey, over 64% of businesses report AI increases their productivity. AI Property Description is just one of the many features TurboTenant has launched to streamline, professionalize, and simplify the administrative side of being a landlord.
"Harnessing the power of AI for property description and listing title generation is just the tip of the iceberg," said O'Rourke. "Building a feature like this is just another example of TurboTenant's commitment to innovation and better serving our users."
Built by landlords for landlords, TurboTenant empowers independent property managers at every step of the rental process. More than 550,000 independent landlords nationwide enjoy TurboTenant's free, all-in-one online property management solutions. Features offered by TurboTenant include rental applications, tenant screening, property marketing, rent payments, lease agreements, and rent reporting.