Renters Warehouse has agreed to acquire OwnAmerica, a single-family rental investment marketplace. OwnAmerica’s marketplace technology will allow real estate investors to buy and sell single-family rental properties with confidence. The transaction is scheduled to officially close Jan. 1, 2019.
“As we strive to offer our clients better access to information, data and resources to make investing easier, OwnAmerica’s portfolio visualizer tools and market research capabilities stood out as industry leading and a great addition to our suite of services,” said Kevin Ortner, CEO at Renters Warehouse. “This technology, coupled with our full-service property management solution, will make Renters Warehouse America’s largest full-service real estate investment company.”
OwnAmerica’s technology was developed over the last seven years for investors and provides access to data on market fundamentals, population trends, employment stats and price performance. The data can be loaded into interactive calculators, so the properties can be underwritten.
The new Renters Warehouse marketplace will allow investors to buy, manage and sell all in one place, and have access to stock-like analytics and day-to-day property management.
“As new institutional investors continue to enter the single family rental space, the need for a holistic solution from sourcing to leasing and managing and eventually monetizing through a single-service provider has become vitally important,” shared Anthony Cazazian, Renters Warehouse’s CIO and president of portfolio services.“
At the time of acquisition, OwnAmerica had over $21 billion in total assets on their platform, with over $200 million in assets for sale. Renters Warehouse’s 14,000 clients across the country will now have access to these assets and can expand their portfolio. Selling commissions are about half what you’d pay with a traditional real estate agent.
“Investors in the housing market are independent, patriotic people who use real estate investing to create long-term financial security for the people they care about,” said Greg Rand, CEO of OwnAmerica.
Rand will join the Renters Warehouse executive team as chief strategy officer and will be guiding the continued development of the marketplace platform, as well as building out and leading a team of local real estate investment agents in all Renters Warehouse markets to assist investors with their buying and selling decisions.
Renters Warehouse is the only property management company focused on single-family rentals to be rated by Morningstar Credit Ratings, a nationally recognized statistical rating organization. The company manages more than $3 billion in residential real estate, services over 14,000 investors across more than 22,000 residences in 42 markets and 25 states.
