Westside Rentals has found itself a new home. The popular rental listing website was just acquired by CoStar Group Inc., a real estate data service in Washington D.C. that operates Apartments.com., said CoStar in a statement released Wednesday. Terms of the deal were not disclosed.
Westside Rentals will keep its headquarters in Santa Monica and funnel its listings into Apartments.com. The 20-year-old company will drop the emphasis on brokerage sales and leasing services that it delved into last year.
"Becoming part of an incredibly innovative company that has truly transformed the rental experience for consumers and landlords alike is exciting,” said Mark Verge, Westside Rental’s chief executive, in a statement.
The website counted more than 85,000 members last year and has worked with 350,000 landlords, according to CoStar, which also owns LoopNet and ApartmentFinder.com.
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In a December 2015 interview with the Business Journal, Westside Rentals President Kevin Miller said the company employed 50 people and that its revenue had jumped 16 percent since 2012. A key part of its business strategy is charging users $20 a month for a minimum of three months of access.
“The proof’s in the pudding,” Miller said at the time. “We’ve always charged since day one.”
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