Rental software provider RentSpree announced on Monday a new partnership with UtahRealEstate.com (URE), a multiple listing service (MLS) serving approximately 20,000 real estate professionals across Utah.
Additionally, RentSpree CEO Michael Lucarelli revealed in a LinkedIn post a new collaboration with REcolorado, the largest MLS in Colorado that boasts more than 26,000 brokers, agents and real estate professionals.
Lastly, RentSpree scored another partnership with the Houston Association of Realtors (HAR), the second-largest MLS in Texas. The integration of HAR’s 48,000 subscribers follows the addition of Unlock MLS (formerly the Austin Board of Realtors) last year, a news release stated.
These strategic integrations will provide agents in Utah, Colorado and Texas with an instant “ApplyLink” for rental listings, significantly reducing the time spent processing tenant applications. Additionally, RentSpree’s tenant screening functionality will be seamlessly integrated into the MLS listing modules. The new integrations, offered at no cost to members, are designed to simplify the entire rental process and support lead-generation efforts.
“The significance of rentals is steadily growing across the U.S.,” Lucarelli said in a statement. “Leading organizations are spearheading the rental conversation, benefiting home seekers and bolstering their own members by fostering sustainability and job security amid a constrained for-sale market.”
The Houston rental market has been flourishing, driven by a strong economy, relative affordability compared with other U.S. metros and resulting population growth. Single-family rental listings increased by 27.4% to 5,403 year over year in April, according to HAR’s latest Rental Market Update. Leased listings also rose by 3.8%, totaling 3,762, while the average lease price climbed 3.1% to $2,285 in April.
Meanwhile, more than 800,000 Utah residents are renters, comprising about 30% of the households in the state, according to data from the Rental Housing Association of Utah.
According to the U.S. Census Bureau’s most recent Rental Housing Finance Survey, there are approximately 18.8 million rental properties in the country with four or fewer units. Lucarelli highlighted that about 50% of these are managed by small-scale landlords who often rely on real estate agents for assistance with their rental properties.