Utah-based multifamily os supplier Entrata revealed on Thursday that it will obtain resident lease reporting and funds supplier Lease Characteristics The regards to the offer were not revealed.
Lease Characteristics’ item offering promotes financial addition and monetary health for locals. Entrata’s acquisition consists of 100% of the business’s equity, and the offer will make it possible “to offer locals with increased access to monetary tools developed to affect their monetary future favorably,” the business stated in a statement about the offer.
” The mix of Entrata and Lease Characteristics will provide a big advance in supplying much-needed tools to resolve a space that has actually avoided countless locals from developing credit and long-lasting monetary health,” stated Entrata CEO Adam Edmunds. “Our company believe this acquisition will offer homeowner and operators what they require to drive commitment, monetary wellness, and, eventually, the best resident experience.”
The addition of Lease Characteristics’ items to Entrata’s existing resident services offerings will support resident-focused owners and operators through broadened os performance, the business specified.
” Lease Characteristics performance will be partnered with Entrata’s existing functions, making it possible for homeowner and operators to offer their locals the ability to simplify energies, acquire tenants insurance coverage, and develop credit by making on-time payments, all through Entrata’s single-sign-on platform,” the statement states.
For Lease Characteristics, the offer will enable the business to scale its efforts to fulfill more tenants, according to Quincy Rich, the business’s CEO.
” Together, Lease Characteristics and Entrata will continue to develop the most detailed, all-in-one os to produce a much better experience for each homeowner,” Rich stated. “We could not be more fired up to sign up with a leader like Entrata to assist locals take ownership of their monetary circumstance to offer more lease payment alternatives and get credit for paying lease on time– all through one application workflow.”
Existing Lease Characteristics staff members will presume brand-new functions under the Entrata umbrella, the statement states.
” We anticipate Lease Characteristics matching our item portfolio for many years to come,” stated Catherine Wong, COO and Chief Item Officer at Entrata. “The interoperability of both platforms will drive increasing advantages for our clients and their countless locals worldwide, enhancing our dedication to raising the resident experience.”