Apartments.comWASHINGTON, DC–CoStar Group has acquired online rental solutions provider Cozy Services for $68 million. The company plans to integrate Cozy's Services into its Apartments.com platform.
“We believe that if we continue to focus on delivering a fantastic renter experience on Apartments.com, we will continue to be the most heavily trafficked website offering the most valued advertising solutions,” says Andrew C. Florance, CoStar Group Founder and CEO.
More than 50,000 landlords use the Cozy platform, which offers such tenant and landlord services as property listings, rent estimates, rental applications, tenant screening, online rent payments, and expense tracking. More than 120,000 tenants are using the platform to make online payments.
An $8 Billion Market
CoStar expects to have integrated the Cozy technology into the Apartments.com platform in the first half of 2019.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
