Vacation rental management service Rented will use a massive investment windfall to tackle a different type of problem in its sector.
The U.S.-based company has created a fund to the tune of $125 million (via investment service Parkwood) that will allow it to guarantee an income to property owners who want to connect via its platform to property managers around the world.
It currently has more than 1,000 managers on its network.
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Rented selects the manager for the property that is best suited to the owner's requirements, essentially, it claims, "removing risk from the equation for property owners and property managers alike".
The company estimates that around $20 billion per year is lost money due to contrasting financial needs at the two ends of the connection.
It says the fund will be used to secure income for owners based on the data it collects on the market, as well as third party providers such as AirDNA and Everbooked.
Rented claims to have some half a million rental weeks listed on its platform, and works with property management services such as Vacasa, Turnkey and Oasis Collection.
CEO Andrew McConnell says: "Until now, no company has systematically closed the gap between homeowners who want a guaranteed income stream and property managers who are rarely able or willing to offer this."