Rentals Inc. Scores $6.5 Mil in Third Funding Round

REDWOOD CITY, CA-The online property management company Rentals Inc. says it is $6.5 million richer thanks to the completion of third-round financing led by Sequoia Capital and Softbank Venture Capital. The capital infusion is targeted for expansion of product development, sales, and customer service capabilities of the locally based company.

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.