RentSpree has experienced significant growth, now processing hundreds of millions of dollars annually in its payments business, which has surged by approximately 150% year-over-year. The company, which assists landlords and real estate professionals in managing rental processes, recently moved its headquarters to Seattle from Los Angeles, attracting attention in the proptech sector.
Founded in 2016, RentSpree serves over 4 million users, primarily focusing on “DIY” landlords who manage one to four rental units. The platform streamlines tasks like applications, leases, and rent collection, significantly benefiting users who previously relied on traditional, paper-based methods.
Michael Lucarelli, the CEO and co-founder, highlighted the strategic importance of Seattle due to its dense network of real estate and technology firms. Recently, the company appointed Alex Berezhnyy, a former Redfin executive, as chief technology officer, bolstering its leadership in the region, where over half of its executive team is now located.
The firm is further expanding its offerings with a new banking-as-a-service feature, allowing landlords to open accounts and manage finances directly through the platform. More than 10,000 landlords and agents utilize RentSpree monthly, reflecting its robust distribution strategy through partnerships rather than traditional advertising.