Rentals Inc. currently serves both large and small operators in the multifamily industry and intends to stay the course, according to company spokesman, David Rodnitzky. "We will continue to offer a double-pronged approach to the market, by offering unique benefits to our clients large and small. For the large firms, through our advanced technology, we offer back-end functionality and efficiency they can't get elsewhere, in maintenance request management, space showings, and credit reporting. For the smaller owners, we make it easy to market individual listings."

The company's nameplate clients include Post Properties, Canadian Apartment Properties REIT and A.G. Spanos Company. Stockton, CA-based AG Spanos is a family-owned operation with 80,000 units in 20 states. Atlanta-based Post Properties owns 36,000 units in 105 communities throughout the southeast and southwest United States, and Toronto-based CAPREIT owns another 8900 units across Canada.

Rentals Inc.'s competitors include SpringStreet and Apartments.com on the marketing side and, to some extent, Yardi and AMSI on the administrative side. Rodnitzky, however, claims "nobody is doing all the things we do at once." In full agreement with Rodnitzky's optimistic outlook is Scott Russell of Softbank, which has $2.5 billion under management involving over 150 Internet companies, including E*Trade and BUY.bom.

Softbank invests in companies "who are ahead of the market," says Russell, "and we don't see any other competitors in the space serving landlords the way Rentals Inc. does it, which is one of three main factors in making this investment. Another is that, with a softening of the rental market looming, owners are going to have to be more active in marketing. The third is that we see large and small owners gaining considerable efficiency in managing their properties using the Internet as a tool."

Russell also sees value in the software maker's dual approach to the market. "That is a definite strength from our view," he said. "They already have two separate sales forces in operation, one slated for the large, national REITs and the other doing telemarketing to small owners. They know their markets. We are pleased with their growth path and see them breaking even this year."