Zillow Acquires Trulia: What this means for the Rental Market
Zillow recently acquired Trulia in a $3.5 billion stock deal that is set to close early next year. While the final details are still to be worked out, essentially this merger will allow Zillow to further dominate the online real estate market.
If you think about it, this unification makes sense. Scale is important in the multi-family industry, so the more viewers on one go-to source means more money in advertising dollars. The question remains, what effect will the acquisition have on the Northwest Florida long term rental market?
For starters, a change in pricing structures is inevitable. This will not happen until the deal is approved, but it is a simple reality that comes with decreased competition. The good news, the less fragmented the market is, the less property managers will have to work for traffic and potentially renters.
Do you have a strategy to secure tenants in your property? Our property managers at Southern offer a variety of services to help maximize your property’s potential income. This includes everything from aggressive marketing and maintenance to competitive financial management.
If you want to rent out your home in Destin, South Walton, Panama City or the surrounding areas, contact our staff today to learn more about what we can do for you.