Investors take controlling share in YouRent

Facebook
Twitter
LinkedIn

US: An investor group has taken a controlling share in Miami-based short-term rental provider YouRent.

The new executive team will be led by Rodney O’Neal, Brian Ferdinand and Luis Garcia-Fanjul. A multi-million-dollar growth and corporate rebranding plan will be implemented to position the organisation as “the leader in aggregating and controlling an exclusive portfolio of multifamily, vacation properties in high-demand US markets”.

The company has experienced a more than 500-per cent growth from its original collection of 52 properties in Miami and Nashville at the time of purchase. YouRent is projected to record revenue upwards of $75 million by the fourth quarter of 2017 and enter several new key markets.

“We invested in YouRent because we see an underserved industry demand for short-term lodging that provides the finest properties, interior design offerings and personalised, on-site services for both the vacation and business traveler,” said Ferdinand, COO of YouRent.

YouRent’s business model is to accumulate and manage its own inventory through long-term and master lease agreements, marketing the units through multiple vacation websites and distribution channels. It offers a 24/7 concierge service in each market.

YouRent was founded in 2012 by Michael Braverman, who serves on the board. The company trades under the corporate entity Vacation Rentals, LLC.

yourent.com</p

Be in the know.

Subscribe to our newsletter »