Main Line Equity Partners Helps Wolverton Debut ‘Rental Co’

Mar 7, 2012 | Deals

Real estate company expands with online leasing for homes, apartments, and condominiums across US

Residential real estate broker Wolverton Co. today announced the formation of Rental Co., a nationwide leasing service for potential renters of homes, apartments, and condominiums, that delivers a “no-risk” rental proposition to property owners, building managers, and property management companies.

Philadelphia Rental Co. is the first major U.S. city to debut. Other Rental Co. locations that will launch in March 2012 include Pittsburgh and Lehigh Valley (Pennsylvania), Annapolis (Maryland), North Jersey and Princeton (New Jersey), and Tidewater (Virginia).

For rent seekers, Rental Co.’s websites offer free, extensive inventory of property listings that are intuitive and informational. After matching pre-qualified renters, licensed REALTORS® from Wolverton—knowledgeable about their local markets and state laws—reduce the hassles and costs associated with property rentals by delivering full leasing lifecycle services to owners/managers with no upfront fees. This includes advertising in over 100 different sources and online syndications, property showings from 5,000 calls per month, tenant screenings, background/credit checks, and servicing the entire lease agreement. Clients pay only when Rental Co. leases their property.

“As current home-buying conditions force many people to rent now more than ever, property owners have become overwhelmed, and are facing lost revenue from vacancies they can’t fill in time,” said William W. Wolverton, president and broker at Wolverton & Co. “Our leasing approach helps properties rent quickly, with reputable tenants who stay longer and renew leases faster.”

In the Philadelphia market, Rental Co. has formed strategic leasing partnerships with property management companies and individual owners having access to over 10,000 units. This includes The Piazza at Schmidts in Northern Liberties (Tower Investments Inc.); Lofts @ 1835 Arch (Forrest City); University Court, Camelot Apartments, Sylvania Gardens, and Overbrook Gardens (Berger Properties); 1500 Locust, 1830 Lombard, and Lofts at 640 North Broad (The Bozzuto Group); Ben Franklin Court, Drexel Court, and Pine Towers (Knickerbocker Properties); Chocolate Works, Waterfront 1 & 2 Old City, Lofts at Logan View, Trinity Row and Touraine Apartments Center City, The Old Quaker (Reinhold Residential); and more.