Apartment List Acquires AI Virtual Leasing Assistant Diffe.rent.com

Apartment List, Diffe.rent.com, housing

San Francisco-based Apartment List, an online rental marketplace, has acquired artificial intelligence (AI) technology provider Diffe.rent, the company announced Monday (April 4). Terms of the deal were not disclosed.

Diffe.rent is an AI virtual leasing assistant in the multifamily sector used by among the largest members of the National Multi Housing Council, a Washington, D.C.,-based apartment industry trade group, Apartment List said.

The idea, the company said, is to connect property management companies with advanced AI technology’s “human touch.”

“This acquisition ushers in the next evolution in leasing,” Matthew Woods, CEO of Apartment List, said in a statement. “Diffe.rent enables us to provide a better rental experience for both renters and properties through AI technology.”

Founded in 2011, Apartment List promises to deliver every tenant a home they love at the value they deserve. With the acquisition of Diffe.rent, Apartment List said it will help properties improve their business by increasing net operating income and maximizing staff time.

“Apartment List and Diffe.rent share the same vision for putting people first and leveraging technology to provide value for renters and properties at every step,” said Diffe.rent founder Didi Bahir.

Diffe.rent’s core technology is called Lea, and according to the release, it works for all incoming leads, regardless of the source. Apartment List is a technology-driven rental marketplace with nearly 6 million units on the platform, reaching millions of renters monthly to help them find their next home.

At the close of 2020, Bloomberg reported the rental platform raised $50 million in a funding round, doubling its valuation to more than $600 million.

Read more: Rental Platform Apartment List Valued At $600 Million Following $50 Million Fundraise

“Our business is predicated on motion, and in 2020 we became profitable,” Apartment List founder John Kobs told the news outlet at the time.