Realtor.com acquires Avail
Move, Inc., the operator of Realtor.com , an online destination for real estate services, announced it has acquired Chicago-based Avail , a platform that improves the renting experience for do-it-yourself landlords and tenants with online tools, educational content, and support. Move, Inc. is a subsidiary of News Corp.
The acquisition helps realtor.com further expand into the rental space, extend its support for landlords, augment current rental listing content, grow its audience and build brand affinity and long-term relationships with renters.
The Avail online and mobile platform brings together the workflow tools that help independent landlords manage rental properties more easily and efficiently, almost all of which are free; more than 90 percent of landlords use the Avail free product, while some landlords upgrade for premium functionality and customizations. Landlords use the Avail platform to create and market rental listings, screen applicants, access state- and city-specific lease agreements, process payments and track maintenance requests. The platform also offers tools for renters, including easy ways to complete rental applications, sign leases, pay rent, submit maintenance requests and access related products and services like renters insurance.
“This acquisition is a key part of our strategy to make finding a home easier and more rewarding. We believe that Avail is uniquely positioned to meet the needs of the DIY landlords and tenants in a large, growing and underserved market. By combining Avail’s rentals listing content and easy-to-use tools with realtor.com’s large audience, consumer experience platform and insights, we believe we can deliver more value to DIY landlords and tenants. I’m excited about what the tremendous team at Avail will add to the talented staff here at realtor.com.” – David Doctorow, CEO of realtor.com.
“We are excited about joining the team at realtor.com, and see this acquisition as a tremendous opportunity for our customers. Leveraging realtor.com’s industry expertise and scale will allow us to expand our platform capabilities and offerings so we can continue to deliver high-quality services, tools and education to even more landlords and tenants.” – Avail CEO Ryan Coon.
Coon, Avail co-founder Laurence Jankelow and the company’s 30+ person team will join Move, Inc. Terms of the acquisition were not made public.