Everything You Need to Know About rent.com.au (ASX_ RNT)
Rent.com.au is the biggest online rental market in Australia. It was established in 2007 and today rent.com.au has got over 1 million rent resumes, with the number of renters growing rapidly. Before we look into Rent.com,au it must be understood that the growth in the online renting market is a global phenomenon, which has been triggered by the fintech and digitalisation of the services sector.
The pandemic has brought about a transformation in the real estate market. The virus has forced many businesses to go online and this has been one critical factor that has contributed to the rapid growth in the business of Rent.com.
Rent.com.au allows renters in Australia to look for rental properties from the comfort of their home, without wasting a lot of time. Rent.com has thousands of rental properties across Australia. It is not just for people who are looking for rental properties but also for homeowners looking to find a safe and hassle free way to rent out their properties to earn some extra income. Home owners can place ads on Rent.com.au in a quick and convenient manner.
In addition to serving as a marketplace to connect homeowners with their tenants, Rent.com.au has also diversified into exclusive products such as
- Rent Resume
- Rent Bond
- Rent Connect
- Rent Check
- Rent Pay
- Rent Reports
These added tools to help agents, landlords and tenants in their search, simplifying the whole process for everyone.
Rent.com.au also has an app that the users can use for on the go access.
Rent.com.au for Renters
Rent Resume is a service offered by Rent.com.au where tenants can create their rent resume. It is like a resume with relevant details of the tenant. Such as the number of family members, pets and any other detail that the landlords ought to know before renting out their property.
The rent resume streamlines the process of finding a rental property, renters can create automatic alerts so that they can be notified whenever there is a property that matches their search criteria.
Rent connect is a service offered by Rent.com.au that takes care of the lighting, heating and other utilities that are required by the tenants in the rented properties. By using Rent connect, tenants can have all of these utilities ready and sorted before they move into the rented property, thus making the whole process of moving smooth and easy.
Rent check is a service provided by Rent.com.au that works very much like a credit check. Using rent check the renters can verify their ID and check if their rental history has any breach that may be damaging their reputation.
Rent bond is a financing option that helps renters get access to up to AUD 10,000 for 21 days. Renters who get approved can get access to a rental bond for their advance rent and then they can pay it back to Rent.com.au in 21 days, like a regular short term loan. The application process is completely online, like any online lender. It takes a few minutes to complete thus giving renters access to cash in a convenient manner. The repayments are matched with the pay cycle, to make repayments easier.
Rent Pay is a feature that allows renters to make rental payments through the app. The renters get reminders and the ability to pay through credit cards, on time. Each payment gets added to their resume and history and thus impacts the rent resume of the renter. Rent Pay is currently undergoing some changes, after Rent.com.au announced partnership with SkyCredit to introduce new fintech based features to make rent payments more convenient and secure.
In addition to this Rent.com.au also has a feature where previous landlords can recommend the tenants to new landlords, thereby helping the new landlord establish the credibility of their new tenants.
Rent.com.au for Landlords
Rent.com.au is also an excellent site for landlords and property owners who do not want to get involved in the hassle of finding the right tenant for their property. Property owners simply have to list their property for free because listing is 100% free. However Rent.com.au charges a fee if the property owners want to get a tenant quickly through their professional or premium packs.
RentCheck allows property owners to conveniently check the credentials of potential tenants.
RentReports allows property owners to access the latest data to help them compare the rent, property prices, occupancy rates and other essential trends in the market.
Rent.com.au For Agents
Rent.com.au is also a great portal for property managers and agents to streamline their business and achieve greater efficiency with detailed market reports and data trends of the real estate sector. Property agents can scale their businesses up and increase their reach by using the services of Rent.com.au
Rent.com.au has seen a sharp increase in its business in the past year, due to the pandemic. The overall financial position of the company looks stable. The company is still running a net loss but the spike in business last year allowed the business to reduce the amount of loss by a significant amount.
The sales revenue for rent.com.au has gone sharply up since 2020, which is the factor that is driving the reduction in net loss figure. The liquidity of rent.com.au is also stable however the liquidity levels are low, thus indicating that any serious economic shock may make things difficult for the business. The net cash flow position for the last quarter of 2020 was positive and there are signs of recovery.
The stock price of Rent.com.au saw a sudden spike in the first quarter, registering an increase in share value by over 600%. This spike was caused mainly by two factors. Firstly the agreement with SkyCredit shows that the business is committed to improving its services by focusing on innovative technology.
Secondly, Bevan Slattery, the famous Australian tech entrepreneur invested AUD 2.75 million into the shares of Rent.com.au. This invested created a positive trend because when other investors see smart investors staking such big amounts in a company, it fuels a buying spree because everyone assumes that the company is worth investing in to.
The spike in share price seems to be over now and the share price is now returning to a steady level, it however remains to be seen where the share price settles. Will it settle on the pre spike levels or at a higher level?
It is likely that the share price will settle at a level slightly higher than the pre spike levels. Rent.com.au has got promising products and it is in an industry that is currently going through a transformation, which means that if the company continues to play its cards well, it can create ripples in the Australian real estate market, which is already going through a boom phase.
Australia Unwrapped provides only general, and not personalised financial advice, and in no way has taken your personal circumstances into account. Investments go up and down, any questions talk to a financial advisor. This blog is opinion only and in no way should investment decisions be based on this information.
Australia Unwrapped does not endorse or vouch for the accuracy or the authenticity of postings, comments or the article
Main Image Source: Pixabay