Australian rental site Rent.com.au achieved more than 660,000 unique visitors to the website during April 2016 while also continuing to increase agent registrations and landlord listings in line with its content targets.
The company says with a hike of more than 7,800 real estate agent registrations, this is the second consecutive month of strong growth.
Active non‐agent/landlord listings were also up to 1,730 in a record for the platform with strong shareholder support received in a $5.5 million rights issue in April to fund mass market brand profile.
RENT Managing Director, Mark Woschnak says the company has continued to deliver on its core objectives for 2016, as outlined at the time of listing on the Australian Stock Exchange 2015, including a focus on growth in listings content from agents and landlords.
"We have also completed the roll out of our national sales team, continued innovation in user experience and product development and we are preparing the next phase of the national branding campaign," Woschnak says.
“Following on from the 517 new agents who registered with www.rent.com.au during March, we've had another 537 register in April so that we now have more than 7,800 agents registered in total.
"This strong surge in agent numbers reflects the level of appetite by real estate agents for our offering.”
Woschnak says the growth in the number of private landlords along with that of registered agents will underpin significant expected further growth in listings content over the coming months.
However he adds there is an expectation Rent.com.au's rate of free registration growth will slow as the business approaches market saturation .
"Our focus will be on increasing sales activity to offset this slowdown," he says. "Our revenues are now increasing as our national sales team gain good traction in transitioning agents onto premium paid plans.”
During April RENT completed a $5.5 million non‐renounceable rights issue primarily for the purpose of funding a mass market branding campaign to drive the next phase of growth.
“We received a strong level of support from existing shareholders who subscribed for approximately 40 per cent of the shares under the offer, which was very pleasing given the overall performance of the market over recent months,” Woschnak says.
“We have also been strategic in attracting some important new shareholders to the RENT share register via the underwriting of the shortfall."