Rented’s new $125m arm aims to give steady income to vacation home owners
Rented.com, which helps homeowners find the best property managers for their vacation rentals, estimates “millions” of such transactions fail to happen each year which could be smoothed by a guaranteed income.
It has put together a $125 million financing arm which will give owners of holiday homes a guaranteed income if they sign up to pay the manager’s commissions for usually a year. Rented judges management companies by how well they perform on Airbnb, HomeAway, Booking.com and other platforms, and picks the one it thinks best for the property in exchange for paying the homeowner the same amount every month for a year.
Rented has 1,100 managers participating on its platform worldwide, and will back only some of them with the new guarantees.
