New York City-based proptech RentRedi, which provides a cloud-based rental management platform designed to simplify the renting process for both landlords and tenants, has acquired the housing-focused platforms eRentPayment and PaymentReport.
eRentPayment offers landlords and property managers a portal for online rental payment collections online and PaymentReport provides credit reporting and property management tools for landlords and property managers. The financial terms of the acquisition were not disclosed; eRentPayment and PaymentReport will become part of RentRedi, with the founder of the two acquired companies, Rick Sands, serving as RentRedi’s head of payments.
“This acquisition will enhance our technology and significantly grow our customer base, positioning RentRedi as an even bigger player in the PropTech space,” said RentRedi co-founder and CEO Ryan Barone. “We are thrilled to bring a more powerful property management tool to thousands of new landlords and their tenants. We also look forward to strengthening our company as we welcome a number of new talented professionals to the RentRedi team.”
“This is an exciting development that provides an expansion of capabilities to deliver industry-leading, convenient rental payment collection and credit reporting services to landlords, property managers, and tenants,” said Sands. “With RentRedi’s expanded suite of property management services, our customers will benefit from more features and payment options that offer even greater convenience along with increased efficiencies.”
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