TurboTenant buys TenantCloud, adding to its 1M-landlord base

What's the deal? TurboTenant, a Fort Collins-based property management software company, has acquired TenantCloudDealroom has a profile for this one. Try Dealroom →, it announced on August 18. Terms were not disclosed. The deal combines two platforms serving independent landlords.

What does each do? TurboTenant offers free DIY software and managed services to more than 1 million landlords nationwide, covering listings, tenant screening, leasing, and rent collection. TenantCloud, founded in 2016, provides rent collection, maintenance, leasing, and accounting tools for landlords, property managers, and owners.

What changes? The combined platform expands TurboTenant's tools across listings, tenant screening, leasing, rent collection, maintenance coordination, tenant placement, and managed services.

Why now? "The property management industry is evolving quickly, and we saw an opportunity to bring together two companies with a shared vision for where it's headed," said Mark DeHaan, chief executive officer of TenantCloud.

What's the endgame? TurboTenant chief executive officer Seamus Nally said the two firms have spent the last decade on a shared mission to make renting "simpler, smarter, and more successful." He said joining forces would accelerate that work toward "the future of property management."

The signal: The deal extends TurboTenant's buying streak in the independent landlord market. It recently acquired REI HubDealroom has a profile for this one. Try Dealroom →, a rental property accounting tool, and Azibo, a financial services and accounting platform — pointing to steady consolidation around all-in-one software for small landlords.

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