Online rental process platform Rentalutions aims to use its recently closed $2 million financing round to cut down on the time and headache of property management. Designed for do-it-yourself landlords, the company plans to add new features like tenant screening, maintenance request management, and payment processing with the raised capital.
According to Rentalutions, over 8 million independent landlords rent 24 million units in the United States. Right now over 30,000 landlords in over 8,000 zip codes use Rentalutions to simplify property listings, applicant screening, customized leasing and more. The platform helps cut the middleman, removing the need for a property manager and helping the do-it-yourself landlords save time and money.
Rentalutions previously raised $1 million in capital. Cultivation Capital spearheaded this financing round, which was joined by M25 Group and Sandalphon Capital. General Partner Cliff Holekamp, also a landlord, noted Rentulations is modernizing how do-it-yourself landlords, often without experience and resources, manage their rental properties.
“It’s refreshing to see someone tackling the challenges we face with one comprehensive solution,” Holekamp said in a press release. “Cultivation Capital looks forward to continuing to support Rentalutions as they grow and scale.”
Co-founder and CEO Ryan Coon launched Rentalutions in 2012 as an all-in-one solution to simplify property management for small-time landlords like himself. “Our vision is to ease headaches for independent landlords at a lower cost than a property manager. This investment will help us continue to do that at greater scale, while developing new tools for landlords and their tenants.”
The cloud-based platform is designed to automate and simplify the rental cycle, and syncs rental listings with websites like ApartmentFinder, Trulia, and Zillow, and includes tenant screening tools, digital leasing, and more.