Subscribe
Be the first with the news that moves the market- ApartmentLove (APLV) signs a listing agreement with Rhenti and strengthens its hold on the Toronto rental market
- This deal is expected to aid property managers, private landlords, and real estate agents to advertise their rental listings on the ApartmentLove network
- Management estimates annualized net operating income of at least $125,000
- ApartmentLove is well funded, having raised more than $3,300,000 in a private placement convertible debenture offering
- ApartmentLove (APLV) is up 20 per cent, trading at C$0.18 at 12:08 pm EST
ApartmentLove (APLV) has signed a license agreement with Rhenti, adding to its footprint across Ontario and the GTA.
Rhenti, is a Toronto-based marketing automation and leasing transaction software company specializing in residential rental space.
This deal is expected to aid property managers, private landlords, and real estate agents to advertise their rental listings on the ApartmentLove network.
Listing agreement
Rhenti has already onboarded tens of thousands of rental listings across Canada into its listing feed. Alternatively, ApartmentLove will earn a fee for every rental listing syndicated to it via the Rhenti feed.
At this time, Management estimates annualized net operating income of at least $125,000 attributable to the agreement and partnership with Rhenti.
ApartmentLove will start invoicing for advertising services come March. Meaning initial revenues attributable to the agreement will be reflected in the company’s first quarter in 2023.
“[…] our ability to organically grow ApartmentLove.com and the assets we acquire, such as OwnerDirect.com […] will drive revenues and generate even stronger returns,” said Trevor Davidson – President & CEO of ApartmentLove.
Davidson added that the company completed testing of the Rhenti data transfer feed and will start commercialization in March.
Listing agreement outcomes
Both companies are estimating the deal to generate around $125,000 in annualized profit.
At last, ApartmentLove is well funded, having raised more than $3,300,000 in a private placement convertible debenture offering. The final tranche closed on January 31, 2023.
“ApartmentLove is a global operator, and their GottaRent.com platform has an excellent reputation here in Ontario which we are thrilled to include in our carefully curated network of listing sites,” said Tomas Ronis – Founder & CEO of Rhenti.
Rhenti is a residential real estate software platform that makes the lead-to-lease process fast, easy, and transparent.
ApartmentLove is a duo-listed company providing online home, apartment, and vacation rental marketing services to property managers, owners and more.
ApartmentLove (APLV) is up 20 per cent, trading at C$0.18 at 12:08 pm EST.
