Rent.com.au, the recently listed Australian rental property web portal, has released its quarterly (3 months to June 30) cash flow figures to the market showing a negative operational cash flow of AUD 443k and revenues of just AUD 19k.
During the quarter, RENT delivered strong traffic growth and up 19% on the same quarter in the prior year. In addition, it had 469 new agents listing in the quarter and a 7% quarterly increase in active listings (up 15% over same quarter in the prior year) to over 58,000 listings.
Unique visitor traffic to www.rent.com.au increased every month from 220,000 unique visitors in April to a record 252,000 in June 2015 and is well on track to surpass that in July 2015. During the quarter RENT established the foundation for its national marketing campaign, negotiating a digital marketing agreement with Accordant (concluded 16th July). The agreement will commence from August 2015 and is expected to deliver further strong gains in driving unique visitor numbers to the site.
Non‐agent Landlord Listings
During the quarter RENT recruited Mr Zoran Tomich, an experienced property industry executive to spearhead its drive to commence shifting the large volume of offline non‐agent landlord listings to online at www.rent.com.au Almost half of all residential rental properties in Australia are currently not managed by property agents and these are still primarily advertised offline, creating a significant opportunity for RENT as the first online rental portal to openly target this market.
Property Agent Listings
An increase of 469 property agents during the quarter brought the total number of agents on the RENT platform to 6,193 and has driven an increase in the number of active rental property listings on www.rent.com.au to over 58,000. Many of the new agents on the RENT platform are members of a large estate agents group and RENT will continue to work with such organisations to increase the number of agents using the RENT platform.
RENT has made significant progress in commencing deployment of its national marketing campaign since coming to the market. RENT now has key executives in place to drive its property agent and non‐agent landlord initiatives, and recruitment of further key executive and sales staff is well underway.
Unique visitor numbers are sharply up and refreshed customer offers for both property agents and non‐agent landlords have been launched in July 2015 to coincide with commencement of print and online marketing. The market for rental properties in Australia remains strong, indeed continues to
grow, giving us confidence that we will deliver on our stated targets.
Rent has launched a marketing campaign has three core objectives over the next 12 months: