Entrata, a Lehi, Utah-based multifamily industry operating system, acquired Rent Dynamics, a provider for resident rent reporting and financial resources that promote economic inclusion and financial health for residents.
The amount of the deal was not disclosed.
The addition of Rent Dynamics’ RentPlus products to Entrata’s suite of resident services will further enhance an operating system to support resident-focused owners and operators. Rent Dynamics functionality will be partnered with Entrata’s existing features, enabling property owners and operators to provide their residents the capability to streamline utilities, obtain renters insurance, and build credit by making on-time payments, all through Entrata’s single-sign-on platform.
The Rent Dynamics team will assume new roles within Entrata to continue innovation and development across the platform.
Led by Adam Edmunds, Chief Executive Officer, Entrata is an operating system for multifamily communities worldwide. The company offers solutions for every step of the leasing lifecycle and empowers owners, property managers, and renters to create strong communities. Entrata currently serves over three million residents across more than 26 thousand multifamily communities around the globe.
Led by Quincy Rich, Chief Executive Officer, Rent Dynamics provides solutions for the Multifamily Industry. Its RentPlus product provides rent reporting and financial resources designed to promote economic inclusion and financial health for renters. Rent Dynamics’ program to help residents build credit has been amplified by its participation in Fannie Mae’s new positive rent payment reporting program, which aims to improve equitable access to credit for residents by incentivizing owners and operators to support resident participation in reporting rent payments to credit bureaus.
FinSMEs
13/07/2023