Rent.com.au Ltd

Rent.com.au shares ride higher on achieving steady growth in users

Rent.com.au is a website dedicated to rental property with a focus on renters.

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Renting is a substantial market in Australia with $60bn in annual rent paid

Rental property website Rent.com.au Ltd (ASX:RNT) is witnessing strong growth for its Renter Resume feature, exceeding 150,000 resumes in just under 10 months.

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.

READ: Rent.com.au continues to witness increasing user adoption

The company’s shares were last trading 7% higher intra-day, at $0.048.

Rent.com.au is a website dedicated to rental property and delivers a single marketplace for renters, agents and landlords.

Renting is a substantial market in Australia with $60bn 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.

The company recently launched the “Suburb Reviews” feature on its website, with renters already completing more than 12,500 reviews, covering more than 2,000 different suburbs.

A key feature of Suburb Reviews is that it provides a useful source of ‘real world’ feedback.

Rent.com.au is targeting a positive EBITDA in H1 FY18, as revenues from new and existing products and restructured costs flow through.

Quick facts: Rent.com.au Ltd

Price: $0.03

Market: ASX
Market Cap: $9.31 m

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