Rent.com.au Ltd

Rent.com.au continues to witness increasing user adoption

The company is continuing to monetise its disruptive business model.

Rent.com.au is targeting positive EBITDA by H1 FY18

Rental property website Rent.com.au (ASX:RNT) is witnessing increasing user adoption for its Renter Resume feature, exceeding 125,000 resumes and adding new resumes at a rate of 500 per day.

Renter Resume allows renters to create a personal renting profile containing their renting history, personal bio, etc. which can be used to apply for multiple properties.

It is a comprehensive profile that allows renters to fully articulate who they are and what they are looking for.

The company is well-funded and is focused on monetising its disruptive business model that is designed to benefit renters, agents and landlords.

With over 70,000 active listings at any one time, Rent.com.au is growing on a national scale.

Importantly, the company is targeting a positive EBITDA in H1 FY18, as revenues from new and existing products and restructured costs flow through.

Renting is a substantial market in Australia with $60 billion in annual rent paid, 85,000 homes rented monthly and more than 32% of Australian’s using a rented home.

The strong adoption rates for Rent.com.au’s services demonstrate a gap in the market for a renter-focused platform, with the company’s initiatives such as Renter Resume driving growth in user base.

Rent.com.au presently has a share of circa 1.5% of the Australian market and is targeting circa 5% market share in FY18.

Quick facts: Rent.com.au Ltd

Price: $0.03

Market: ASX
Market Cap: $9.31 m

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