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Property Connect Holdings shares rise on signing new agreements

Targeting the $165 billion U.S. multifamily rental market.
Property Connect Holdings shares rise on signing new agreements
Agreement covers a combined 8,045 apartments

Property Connect Holdings (ASX:PCH) has signed new agreements related to its property management platform covering a combined 8,045 apartments.

The company’s shares were last trading 28.6% higher intra-day, at $0.009.

Targeting the large and growing U.S. multifamily rental market, the company’s LiveOffer platform offers property management companies a simple solution to manage their residential leasing process.

The platform facilitates a real-time rental application process, which maximises rental revenue for property management companies, while optimising the rental offer process for tenants.

The new agreements mark the conversion of multiple letters of intent, with an additional 293,000 apartments covered under further letters of intent.

Property Connect has signed agreements with rental property managers Berger Rental Communities and European Investment Management Corporation (EIMC).

Operating in the $165 billion U.S. multifamily housing market, the rental property managers manage large residential communities for a range of clients, across the country.

The rental property managers will utilise the company’s LiveOffer platform to manage the rental application process for apartments as they become available for lease.

The scale of the opportunity is evidenced by the fact that the 8,045 apartments covered by the agreements represent a tiny portion of the over 43 million renter occupied households across America.

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