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Roofstock Acquires Tenant Screening Company RentPrep
Friday 05 August 2022

California, US-based Roofstock, a digital platform for buying, selling, and managing single-family rental investments, has acquired US-based tenant screening company RentPrep, the company said.

This transaction follows Roofstock's recent acquisitions of Great Jones and Stessa, as Roofstock continues to deliver tech-enabled solutions designed to make investing in the USD 4tn SFR market radically accessible and efficient for both individual and institutional investors.

RentPrep is a digital tenant screening company that allows landlords and property managers to efficiently perform credit, criminal, and other background checks.

Its model leverages technology along with certified screeners authenticating results to ensure the data being given to landlords is not just quick, but also accurate and compliant with the Fair Credit Reporting Act.

Individual investors can order screening reports from RentPrep's website, and property management clients can integrate RentPrep into their own solution by leveraging RentPrep's APIs.

RentPrep is Roofstock's third acquisition in less than two years and fourth since its founding.

Last year the company acquired Stessa, a free online investment management solution for real estate investors, as well as tech-enabled property manager Great Jones, which Roofstock integrated into its fast-growing property management service that now stands at over 16,000 homes under management.

Roofstock said it plans to build upon this momentum and will continue to seek strategic M and A opportunities that expand its technology, data, and property management capabilities.

This news closely follows Roofstock's recent Series E funding announcement, where the company raised USD 240m at a nearly USD 2bn valuation.
Date Published: 05/08/2022