Zillow (NASDAQ:ZG, Z) and Realtor.com have expanded their respective platforms with new offerings aimed at rental housing.
Zillow has partnered with Homesite to offer renters insurance via its app or website. In the debut of this product, Zillow pointed to its in-house research that found most landlords (56%) said that tenants having renters insurance is “essential” when tenants rent a property from them. This means that many landlords require tenants to have insurance and even present proof of coverage before moving in.
“Renters insurance is important for both tenants and landlords, and now renters can conveniently get a quote and purchase a plan through Zillow, making their move that much easier,” said Michael Sherman, vice president of Zillow Rentals. “Zillow aims to simplify the moving process and make life easier for renters. We understand the importance of crossing off those essential to-do list items, and now we’re excited to offer a seamless solution to protecting renters’ belongings.”
Separately, Realtor.com has added potential short-term rental income estimates from Airbnb to its My Home dashboard. According to the company, this new offering enables homeowners to review potential earnings estimates for hosting one room or their whole house.
“Short-term rentals are a great way to help with some of the costs of homeownership – renting out their house for a couple days or weeks out of the year when it’s not in use could generate extra income that can be put toward the mortgage, maintenance, or even help cover the cost of a vacation,” said Mausam Bhatt, chief product officer at Realtor.com. “By arming homeowners with information about how much they could potentially make by renting a room or their whole home on Airbnb, Realtor.com is helping them better understand their options and in turn make more informed decisions about their home.”