House Rental Franchises With New Windows Online
RentalHouses.com, Inc., a national internet listing service advertising rentals of single-family homes and small apartment properties, announced today its purchase of Ohio-based ClevelandRents.com, a leading competitor in the region. The deal gives the Louisville-based company a “strong presence” in one of the country’s larger metropolitan areas, said RentalHouses.com President and CEO David T. Richardson.
For RentalHouses.com, the rental franchise, the purchase marks its first acquisition of a local-market competitor and complements its rapid organic growth of listings, revenue, and website traffic. Richardson added that additional industry players are currently being evaluated and future acquisitions are likely.
Since its inception in 2003, ClevelandRents.com has had hundreds of successful home rental listings annually in the greater Cleveland area. Joel Cheesman, ClevelandRents.com founder, declined to disclose terms. “We are very happy with the transaction and with RentalHouses.com, who shares our values of helping match smaller rental property owners and managers with renters online. Our sites are very complementary.”
For Richardson, “the integration of ClevelandRents.com into the RentalHouses.com franchise is one of several successful steps our company is undertaking to continue our aggressive growth in the targeted small-unit owner segment.”
Founded by a real estate investor and property manager, RentalHouses.com, Inc., offers online rental listings exclusively for single family homes and other smaller, multi-unit rental properties, such as townhouses, condos, duplexes, and apartment communities with fewer than 50 units. The website’s thousands of posted rental listings, with full-colour photos, extensive descriptions, and detailed Google™-derived mapping, enable searchers to easily research and find their next rental home anywhere in the United States.
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