TORONTO, Jan. 25, 2023 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) (“ApartmentLove” or the “Company”), a leading provider of online home, apartment, and vacation rental marketing services to property managers, private owners, renters, and vacationers from around the world is pleased to announce that it has entered into a long-term license agreement (the “Agreement”) extending the decade long relationship between its recently acquired GottaRent.com rental marketing platform, Landlord Web Solutions Ltd. and their flagship Rentsync listing syndication system (“Rentsync”).
Contract Highlights:
- Binding two-year commitment with open-ended renewal options
- Dedicated integration of data transfer feed between GottaRent.com and Rentsync
- Access to thousands of unique rental addresses and several hundred property management clients from across Canada, most of which located in the GTA
- Revenue share with Landlord Web Solutions ensures mutual benefit
- Rentsync to provide invoicing services to ApartmentLove streamlining account management and collections efforts in favor of clients syndicating to GottaRent.com
Home to thousands of unique rental addresses; property managers across the Greater Toronto Area (“GTA”) and elsewhere throughout Canada use Rentsync as their preferred home and apartment listing syndication tool to quickly. Rentsync allows landlords to quickly, and effortlessly, advertise their rental vacancies on trusted and proven effective platforms like GottaRent.com. ApartmentLove acquired GottaRent.com in an all-cash transaction that closed December 15, 2022.
“We’re excited to have signed this long-term Agreement with ApartmentLove, securing our relationship with GottaRent.com which has maintained a strong presence in the Canadian rental industry for more than twenty years,” exclaimed Josh Lipton – Director of Product and Operations for Rentsync. Mr. Lipton added, “Our Rentsync platform provides users with many options when it comes to rental marketing and this Agreement will help make it easy for our clients to advertise on GottaRent.com and generate more leads when syndicating their listings via Rentsync.”
Customers of Landlord Web Solutions that wish to syndicate their rental listing inventories to GottaRent.com, one of Canada’s largest and most established internet listing websites with particular presence and marketing effectiveness in the GTA, may now do so on a paid basis via the Rentsync system. Signing the Agreement kicks-off the Company’s 2023 sales efforts with a scalable, reliable, and proven effective listing integration partner and sales plan with great upside and strong operating and net contribution margins.
“We have long been supporters of Rentsync as an efficient and reliable distribution vehicle for property managers seeking ease and efficiency from their marketing activities. We are very pleased to have crystalized our relationship with the signing of this long-term Agreement benefiting both our companies in addition to landlords and renters from coast to coast,” said Trevor Davidson – President & CEO of ApartmentLove Inc. Mr. Davidson explained that the Company plans to begin coordinated marketing and promotional efforts with Landlord Web Solutions effective immediately with the aim of securing the greatest number of paying clients all syndicating their rental properties to GottaRent.com via Rentsync.
Clients of Landlord Web Solutions wanting to syndicate their rental inventory to GottaRent.com can do so via their Rentsync dashboard. The dedicated data transfer feed connecting GottaRent.com and Rentsync is now live and already contains several hundred daily active rental listings meaning revenues derived from operations under this Agreement will be reflected in the Company’s Q1/2023 financial results.
GottaRent.com was acquired by ApartmentLove in December 2022 and today has several coveted Page 1 Google rankings across the GTA and elsewhere across the country. A leader in the internet listing sector, GottaRent.com is known for delivering high numbers of good quality leads that often convert into long-term rental lease agreements which is part of the reason GottaRent.com has enjoyed strong returns for many years. “An exciting time for the Company, we are grateful for the confidence and support shown by Mr. Lipton and the entire Landlord Web Solutions team,” said Martina Gezic – Manager, Sales and Marketing for GottaRent.com. Ms. Gezic added, “We are thrilled to have started the year with such force and look forward to supporting all our clients, both old and new, as we continue to grow and expand.”
Approximately 1,350,000 people visited GottaRent.com in 2020 viewing nearly 5,000,000 rental listing pages across the GTA and elsewhere in Canada. Management believes investments in Search Engine Optimization (“SEO”) and other creative forms of marketing and advertising designed to attract website visitors in major Canadian rental markets, which had been discontinued by the previous ownership group during the pandemic, will result in many more new and additional visitors to the website meaning more rental inquiries (i.e., lead volume) in favor of property managers advertising on GottaRent.com. Furthermore, a refresh of the GottaRent.com website and updates to the user experience are believed will also improve lead volume conversion rates maximizing the value and Return on Investment (“ROI”) enjoyed by those who advertise their homes and apartments on GottaRent.com.
About Rentsync
As a trusted provider of multifamily marketing solutions, Rentsync is serious about solving the biggest pain points for property marketers and creating innovative solutions that allow clients to transform their marketing from a cost center into a revenue driver. A team of disruptors and visionaries, Rentsync see challenges as opportunities and proactively solve problems in the rental housing industry. Our knowledge and expertise position us at the forefront of innovation in the rental housing sector and Rentsync believes that through our products, services, and strategic partnerships, can elevate the entire internet listing industry to new heights. As a Growth 500 company, Rentsync takes pride in our team and work to improve rental markets and support the work of our partners to help drive value in a fast-paced and dynamic environment.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) (OTCQB: APMLF) is a leading provider of online home, apartment, and vacation rental marketing services promoting more than 300,000 currently active homes, apartments, and vacation properties around the world on its many home and apartment rental platforms. Having proven its ability to scale as a fast-growing "PropTech" in today’s complex and dynamic market environment, ApartmentLove is actioning its growth through acquisition strategy as it consolidates a deeply fragmented industry by acquiring similar businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and custom technologies. ApartmentLove is also seeking to accelerate and destress the renting experience while simultaneously advancing its own organic SEO and other growth strategies in key rental markets around the world.
For more information visit www.apartmentlove.com/investors or contact:
Trevor Davidson
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702
Reader Advisory
Certain statements in this press release are forward-looking statements, which reflect the expectations of management regarding the anticipated benefits related to the Company’s acquisition of GottaRent.com, the growth of the home and apartment rental marketing spaces and the profitability of the operations of GottaRent.com, a division of ApartmentLove, and ApartmentLove as a whole. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance of any kind should not be placed on forward-looking statements. Such Forward-looking statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Risk factors can be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com.
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