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Rently and PlanOmatic Partner to Deliver Time-Saving Photo Feed Automation

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Integration enables faster syndication, accelerates time-to-market Rently, a leading provider of self-touring and smart home technology solutions, and PlanOmatic, a nationwide provider of quality photography, floor plans, and 3D tours for the single-family rental industry, are pleased to announce a new photo feed integration partnership that instantly syncs PlanOmatic property photos to their corresponding vacant listings on Rently’s ILS and its syndicated sites for single-family rental listings. The Rently-PlanOmatic photo feed integration eliminates the manual steps previously required for property managers to update property listings prior to syndication. Now, Rently clients no longer need to wait for the sync between PlanOmatic, their property management software and Rently. Once PlanOmatic completes a photo shoot for a mutual client, photos are automatically attached to their corresponding Rently listing and immediately syndicated. In addition, clients avoid having to log in to three different platforms to upload photos. “Our partnership with PlanOmatic demonstrates the power of best-in-class vendors working together to help clients optimize their operations and marketing workflows. This new photo feed integration makes it easier and faster for our mutual clients to publish and syndicate their vacant rental listings with top-quality PlanOmatic property photos,” stated Merrick Lackner, CEO and Founder at Rently. “In order for operators to gain efficiencies, it’s essential that their key leasing automations work together seamlessly.” “Our integration with Rently ensures that property managers’ workflow velocity is uninterrupted right up until a listing appears. With this integration, our mutual clients no longer have to download, upload, and publish their listing media. We are working towards a future where photos, floor plans, and 3D can be ordered with just one click, and content will be syndicated automatically across internet listing services. Rently has taken the bold step of being a trailblazer in this space, and we are excited to partner on this journey.” As Kori Covrigaru, CEO at PlanOmatic, puts it, “This direct integration with Rently is the first of many to come.” For more information about the Rently-PlanOmatic integration or to schedule a consultation, please click here. About RentlyRently is the leader in self-touring and smart home technology. We offer best-in-class proptech solutions for the rental housing industry. We combine top-tier hardware with an innovative software platform that allows real estate operators to optimize their leasing efficiency and expand revenue opportunities. Rently.com About PlanOmaticPlanOmatic provides professional Photography, Interactive Floor Plans, and 3D Tours to the Single-Family Rental industry with speed and at scale, nationwide. With a network of photographers across the US, PlanOmatic serves property management companies and SFR owners/operators. As a client-centric company, PlanOmatic provides customizable business intelligence insights and workflow automation solutions to streamline client operations and marketing. www.planomatic.com Contacts: Becca NevarrezSenior Director, Marketing at Rentlybecca@rently.comor media@rently.com Kendall JarvisMarketing Manager at Planomatickjarvis@planomatic.com SOURCE Rently

HOUSING MARKETS FACING GREATER RISK OF DOWNTURNS CLUSTERED IN CALIFORNIA, NEW JERSEY AND ILLINOIS

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New York City and Chicago Areas Again Have Higher Concentrations of Markets More Exposed to Declines, Based on Third-Quarter Data; At-Risk Markets Have Weaker Foreclosure, Underwater and Job Measures; Less-Vulnerable Areas Mainly in South, Midwest and New England ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, foreclosures, underwater mortgages and other measures in the third quarter of 2023. The report shows that California, New Jersey and Illinois have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City and Chicago areas, as well as central California. Less-vulnerable markets are spread mainly throughout the South, Midwest and Northeast. The third-quarter patterns – derived from gaps in home affordability, underwater mortgages, foreclosures and unemployment – revealed that California, New Jersey and Illinois had 33 of the 50 counties considered most vulnerable to potential drop-offs. Those concentrations dwarfed other parts of the country at a time of mixed market trends when home prices and homeowner equity improved but home affordability and foreclosure activity worsened. The 50 counties on the most-exposed list included nine in and around New York City, seven in the Chicago metropolitan area and five in central California. The rest were scattered around northern and southern California and widely across other parts of the country. At the other end of the risk spectrum, the South had the most markets considered least likely to decline, followed closely by the Midwest and a group of states in New England. “Some parts of the country continue to pop up on the radar as places to watch for signs of housing-market drop-offs, based on key quarterly measures,” said Rob Barber, CEO at ATTOM. “Once again, it is important to stress that getting onto the most-vulnerable list doesn’t signal an imminent crash for any local market. It just means that they have greater potential tripwires that could lead to a decline. Those remain areas to watch, especially given the overall varied trends in the market.” Counties were considered more or less at risk based on the percentage of homes facing possible foreclosure, the portion with mortgage balances that exceeded estimated property values, the percentage of average local wages required to pay for major home ownership expenses on median-priced single-family homes, and local unemployment rates. The conclusions were drawn from an analysis of the most recent home affordability, equity and foreclosure reports prepared by ATTOM. Unemployment rates came from federal government data. Rankings were based on a combination of those four categories in 578 counties around the United States with sufficient data to analyze in the third quarter of 2023. Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the four ranks. Most-vulnerable counties bunched in Chicago and New York City metros, plus parts of California The metropolitan areas around Chicago, IL, and New York, NY, as well as central California, had 21 of the 50 U.S. counties considered most vulnerable in the third quarter of 2023 to housing market troubles (from among 578 counties with enough data to analyze). The 50 most at-risk counties included three in New York City (Kings and Richmond counties, which cover Brooklyn and Staten Island, and Bronx County), six in the New York City suburbs (Bergen, Essex, Ocean, Passaic, Sussex and Union counties, all in New Jersey) and seven in the Chicago metropolitan area (Cook, De Kalb, Kane, Lake, McHenry and Will counties in Illinois, and Lake County in Indiana). The five in central California were Fresno County, Madera County (outside Fresno), Merced County (outside Fresno); San Joaquin County (Stockton) and Stanislas County (Modesto). Elsewhere, the top-50 list included three each in northern California, southern California and the Philadelphia, PA, metro area. They were Butte County (outside Sacramento), El Dorado County (outside Sacramento) and Humboldt County (Eureka) in northern California and Kern County (Bakersfield), Riverside County and San Bernardino County in southern California. Those in the Philadelphia area were Philadelphia County, Gloucester County, NJ, and Camden County, NJ. Counties most at-risk of downfalls again have higher levels of underwater mortgages, foreclosures and unemployment At least 5 percent of residential mortgages were underwater in the third quarter of 2023 in 30 of the 50 most-at-risk counties. Nationwide, 5.2 percent of mortgages fell into that category, with homeowners owing more on their mortgages than the estimated value of their properties. Those with the highest underwater rates among the 50 most at-risk counties were Webb County (Laredo), TX (56.6 percent underwater); Tangipahoa Parish, LA (east of Baton Rouge) (24.3 percent); Philadelphia County, PA (17.4 percent); Saint Clair County, IL (outside St. Louis, MO) (15.3 percent) and Peoria County, IL (14.3 percent). Nationwide, one in 1,389 homes received a foreclosure filing in Q3 2023. (Foreclosure actions have risen since the expiration in July 2021 of a federal moratorium on lenders taking back properties from homeowners who fell behind on their mortgages during the early part of the Coronavirus pandemic that hit in 2020. While foreclosure rates remain low, nearly four times as many cases were open in the third quarter of this year compared to the point when the moratorium was lifted.) The highest foreclosure rates among the top 50 counties were in Cumberland County (Vineland), NJ, (one in 359 residential properties facing possible foreclosure); Warren County, NJ (outside Allentown, PA) (one in 459); Sussex County, NJ (outside New York City) (one in 461); Gloucester County, NJ (outside Philadelphia, PA) (one in 470) and Camden County, NJ (one in 509). The August 2023 unemployment rate was at least 5 percent in 35 of the 50 most at-risk counties, while the nationwide figure stood at 3.9 percent. The highest rates in the top 50 counties were in Merced County, CA (outside Fresno) (8.9 percent); Kern County (Bakersfield), CA (8 percent); Cumberland County (Vineland), NJ (7.3 percent); Bronx County,

PROPERTY MELD TO RELEASE AI SUITE ADDRESSING KEY CHALLENGES IN PROPERTY MAINTENANCE COMMUNICATION

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Property Meld, the leading residential property maintenance software company, announced today a suite of AI Communication tools aiming to solve the significant challenges around correspondence throughout the lifespan of a maintenance request. The suite, launching on December 15, 2023, focuses on three major problem sets that impact the absorption of information, oversight, and efficiency for several critical stakeholders in the maintenance operation. “We’re incredibly excited to innovate in the property maintenance industry, and layering AI with the powerful foundation of communication starts to paint a picture of where we’re going,” says Ray Hespen, CEO and Co-Founder of Property Meld. “Our customers expect us to help them win in the current competitive landscape… and we make it our mission to keep the gap between them and would-be competitors incredibly wide.” Property Meld’s AI Communication Suite will be available to all standard package customers on December 15, 2023. For more information or to request a demonstration, visit www.propertymeld.com/ai-communication-suite About Property Meld Founded in 2015, Property Meld is a stand-alone maintenance software platform for property management companies to optimize their maintenance process. Property management companies experience maintenance scheduling, communication, coordination, billing, and oversight friction. In response, Property Meld provides a solution that significantly reduces maintenance costs and increases satisfaction for all stakeholders in the maintenance process. Learn more at www.propertymeld.com Contact: Madison Zimmerman, Property MeldPhone: (605) 431-0265 Email: madison@propertymeld.com

Zillow predicts more homes for sale, improved affordability in 2024

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Home buying will remain expensive, so expect a competitive market for homes that need some work and for single-family rentals The housing market’s headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room — but only a bit. Buying a home will remain expensive, keeping pressure on the rental market to cater to families that will be renting for longer than previous generations. Many who buy will turn to homes that need some work, according to Zillow’s predictions, and do-it-yourself upgrades and repairs will keep new homeowners busy. “I expect the beginning of a long healing process to kick off in the housing market next year,” said Skylar Olsen, Zillow chief economist. “We know there are a huge number of households in prime home-buying ages waiting for the winds to turn in their favor. While still presenting challenges, the market will be better for buyers, with more homes to choose from and improved affordability. Many will continue to look toward rentals, and given renter demographics single-family rental demand in particular will be strong. Recent deliveries should keep rent growth down, and concessions high in that market, too. This is our breather year.” More homes will hit the market as homeowners accept that current mortgage rates are sticking around“Higher for longer” is the key refrain regarding mortgage rates as Zillow economists look ahead to the next year in housing. It’s becoming clear that high mortgage rates have some staying power. Zillow economists expect more homeowners who locked in long-term payments when rates were near all-time lows to list their homes for sale, as they grow weary of waiting for the historically low rates of 2021 to return. A very small pool of homes for sale has kept competition fairly stiff for most of this year, even with high costs limiting the number of shoppers. With mortgage rates rising over the past two years, homeowners have been reluctant to sell, opting instead to hold onto the ultralow interest rate on their current mortgage. Many of those homeowners will have their eye on a home with a bigger backyard, an extra bedroom or in their preferred neighborhood across town, and Zillow predicts more of these homeowners will end their holdout for lower rates and go ahead with those moves. More homes on the market would be good news for buyers, spreading demand and slowing price growth. Home-buying costs will level off, giving hopeful buyers a chance to catch upA typical home buyer in October would have spent more than 40% of their earnings on their mortgage payment — an all-time high according to Zillow data, which stretches back to the 1990s. While affordability will undoubtedly remain the top concern for potential home buyers in 2024, there is reason to expect those challenges to ease just a bit. Zillow’s latest forecast calls for home values to hold steady in 2024. Predicting how mortgage rates will move is a nearly impossible task, but recent inflation news gives the impression that rates are likely to hold fairly steady as well in the coming months. The cost of buying a home looks likely to level off next year, with the possibility of costs falling if mortgage rates do. That would give time for wages and buyers’ savings to grow — welcome news after the rapid rise in housing costs over the past two years. The new starter home will be a single-family rentalThough Zillow expects some improvement in home-buying affordability in 2024, many households will still be priced out. The median renter is now 41 years old, up from 37 in 2000, and the types of rentals they’re interested in has likely shifted. Zillow predicts demand — and prices — for single-family rentals will continue to increase next year as families look for a more affordable option for enjoying amenities like a private backyard or a home that doesn’t share walls with neighbors. One possible path to more single-family rentals could lie in homeowners deciding to turn their home into an investment property and rent it out, rather than selling it when they move. The ultralow mortgage rates held by many existing homeowners make it more likely that this option would pencil out. Zillow Rental Manager offers a suite of tools — including free listings, pricing suggestions, background checks, online applications and state-specific lease generation — designed to provide comprehensive support for those seeking rental income from their homes. More markets will follow New York City’s lead, with rental demand surging near downtownsThroughout much of the pandemic, and even before, suburban rent prices were growing faster than rents in urban neighborhoods. While the gap has narrowed, suburban rents continue to outpace urban rents in most major markets, specifically, 33 of the 50 largest metro areas. In New York City, data from StreetEasy, Zillow Group’s New York City real estate marketplace, shows demand is surging for rentals in commutable areas with easy access to Downtown or Midtown Manhattan, while areas farther from these office-laden neighborhoods are seeing relatively less demand. StreetEasy experts predict a strong year for Manhattan demand in 2024, and Zillow foresees more markets following suit, with rental demand surging near downtown centers. Renters looking for a place near downtown will likely have more options with this year’s multifamily-construction boom, which means a huge number of new homes have hit the market. More choices for renters looking for a new place means landlords who are trying to attract tenants have more reason to compete with each other on price. That’s a key reason more rental listings are offering concessions. Traditional home buyers will compete with flippers for homes that need a little TLCTypically the target of home flippers, homes that need a little work before they qualify for “dream home” status will see increased interest from buyers looking to move in. Inventory has been far below normal for a while, and though Zillow economists predict more homes will hit the market in 2024, inventory will remain much lower than pre-pandemic norms. Faced with limited choices,

COST OF HOME REPAIRS INCREASES BY 6.6% FROM Q3 2022

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Prices rise nationally by more than 64% over the past decade The cost of home repairs and remodeling in the third quarter of 2023 jumped by 6.6% nationally compared to a year earlier according to the new Verisk Remodel Index. Costs rose 1.7% from the second quarter of 2023 and are at the highest levels in the past decade, rising over 64% from the first quarter of 2013. The Verisk Remodel Index tracks costs on 31 different categories of home repair, comprising over 10,000 line items ranging from appliances to windows. Data are compiled monthly in over 430 local market areas across the country. “Much like the price of homes and the cost of financing, we’ve seen repair costs rise significantly over the past year,” said Greg Pyne, VP, Pricing for Verisk Property Estimating Solutions. “The costs of products and materials used in home repairs jumped after the COVID-19 pandemic, and haven’t slowed down much after that initial burst in 2021.” Costs rose in all 31 categories both quarterly and annually. The cost of doors rose the most compared to the prior quarter, going up by 16.6% compared to the second quarter, and 17.7% compared to the prior year. The cost of tile rose by 7.3% quarterly, and had the highest annual increase, with prices soaring by 27%. Framing, which accounts for over 6% of repair and remodel costs, was up 2.2% from the prior quarter, but down 1% year-over-year, and down about 13% from its high point in the index in the second quarter of 2021. “At a 6.6% annual rate of increase, repair and remodeling costs are outpacing inflation, which is currently running at about 3.2%,” added Pyne. “Hopefully, as the rate of inflation continues to decline and supply chain disruptions are minimized, repair and remodeling cost increases will follow suit.” Pacific and Mid-Atlantic Regions Show Highest Quarterly Increases; Mountain and New England Regions Have Highest Annual Gains All regions experienced cost increases both quarterly and annually. The Mid-Atlantic and Pacific Regions both saw costs rise by 1.9% compared to the second quarter. The Mountain Region (7.4%) and New England Region (7.1%) had the highest rate of annual cost increases. The Mountain Region has also had the highest overall cost increases over the ten-year span covered by the index, rising over 69 points since the beginning of 2013. The West South Central Region had the lowest quarterly (1.4%) and annual (6.2%) cost increases, and has risen the least (58.5 points) since the beginning of the tracking period. Q2-Q3 Q3 2022-Q3 2023 East North Central 1.5% 6.5% East South Central 1.6% 6.4% Mid-Atlantic 1.9% 6.6% Mountain 1.8% 7.4% New England 1.5% 7.1% Pacific 1.9% 6.4% South Atlantic 1.5% 6.4% West North Central 1.7% 6.3% West South Central 1.4% 6.2% Methodology The Verisk Remodel Index tracks costs on 31 different categories of home repair, comprising over 10,000-line items including appliances, doors, framing, plumbing, windows. Prices are compiled and updated monthly in over 430 local market areas across the country. The index cost basis is January 2013, and the report is updated quarterly. About Verisk Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. Verisk is traded on the Nasdaq exchange and is a part of the S&P 500 Index and the Nasdaq-100 Index. For more information, please visit www.verisk.com. Contact: Rick Sharga CJ Patrick Company (949) 322-4583 rick.sharga@cjpatrick.com

HOME-MORTGAGE LENDING DECLINES AGAIN ACROSS U.S. DURING THIRD QUARTER AS MORTGAGE RATES CLIMB

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Residential Loans Drop 3 Percent After Brief Second-Quarter Surge; Purchase and Home-Equity Lending Both Down 7 Percent Following Earlier Gains; But Refinance Activity Rises for Second Straight Quarter ATTOM, a leading curator of land, property, and real estate data, released its third-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that 1.54 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the third quarter, representing a 3 percent decline from the prior three-month period. That drop-off marked the ninth decline in the last 10 quarters – a string broken only by a spike during the second quarter of this year. The third-quarter downturn, which came amid increases in mortgage rates and home prices, left total residential lending activity down 26 percent from a year earlier and 63 percent from a high point hit in 2021. Lending activity resumed its extended downturn during the third quarter with a mix of gains and losses in major categories of residential lending, as growth in refinance activity was more than offset by drops in purchase and home-equity lending. The number of refinanced loans increased 5 percent quarterly, to roughly 516,500, while lending to home buyers went down 7 percent, to about 752,000. Home-equity credit lines also dipped 7 percent, to 272,000. Measured monetarily, lenders issued $482 billion worth of residential mortgages in the third quarter of 2023. That was down 4 percent from the second quarter of 2023 and 28 percent from the third quarter of last year. Despite the third-quarter shifts, the portion of all residential mortgages represented by different kinds of loans remained roughly the same compared to the second quarter. Purchase loans still comprised about half of all mortgages issued during the third quarter, while refinance packages made up one-third and home-equity loans just under 20 percent. However, that remained far different from two years ago, when refinance deals comprised two-thirds of all activity and purchase loans just a third. “The mortgage industry took another hit in the third quarter as the spike in residential lending during the Spring turned out to be temporary,” said Rob Barber, CEO at ATTOM. “Refinance deals stood out as the lone bright spot. That seemed a bit odd given that interest rates went up, but may have stemmed from homeowners pulling cash out of their growing equity. Overall, the impact of higher rates and other forces working against borrowers remained striking, resulting in total loan activity still off by a remarkable two-thirds over just two years.” Barber added that “the typical housing market slowdown during the Fall is likely to further reduce purchase lending in the immediate future, while borrowing by homeowners should hold fairly steady if projections for stable interest rates turn out to be accurate.” The third-quarter lending trends took shape as hHome-mortgage rates increased again over the Summer, pushing up the cost of borrowing after dipping slightly in the first and second quarters of 2023. Average rates for 30-year, fixed loans rose above 7 percent, which was more than double the historically low rates from two years earlier. At the same time, an ongoing tight supply of properties for sale across the U.S. helped keep a lid on the number of buyers seeking mortgages to purchase homes. Total lending activity decreases quarterly in almost two-thirds of nation Banks and other lenders issued a total of 1,539,828 residential mortgages in the third quarter of 2023, down 3 percent from 1,589,359 in the second quarter of 2023. The fallback resumed a two-year run of declines that was broken only by a 22 percent spike in the second quarter of this year. The latest total also was down annually by 26 percent, from 2,077,214 in the third quarter of 2022, and 63 percent from a recent high point of 4,167,003 hit two years ago. A total of $482.5 billion was lent to homeowners and buyers in the third quarter, which was down 4 percent from $504.3 billion in the prior quarter and down 28 percent from $674.1 billion in the third quarter of 2022. Overall lending activity dipped lower from the second to the third quarter of this year in 126, or 63 percent, of the 201 metropolitan statistical areas around the U.S. that had a population of 200,000 or more and at least 1,000 total residential mortgages issued from July through September of 2023. Total lending also remained down from the third quarter of 2022 in 195, or 97 percent, of the metro areas analyzed. It was off by at least 25 percent annually in 98 of those markets (49 percent). The largest quarterly decreases were in St. Louis, MO (total lending down 33.7 percent from the second quarter of 2023 to the third quarter of 2023); Atlanta, GA (down 24.3 percent); Naples, FL (down 17.6 percent); Salisbury, MD (down 17.4 percent) and Barnstable, MA (down 15 percent). Aside from St. Louis and Atlanta, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter of 2023 to the third quarter of 2023 were San Jose, CA (down 12.6 percent); Washington, DC (down 11 percent) and San Francisco, CA (down 10.9 percent). The biggest quarterly increases among metro areas with a population of at least 1 million came in Buffalo, NY (total lending up 15.2 percent from the second to the third quarter of 2023); Grand Rapids MI (up 9.8 percent); Honolulu, HI (up 7.9 percent); New York, NY (up 6.2 percent) and Detroit, MI (up 5.6 percent). Refinance mortgage originations rise for second straight quarter after two-year fall Lenders issued 516,461 residential refinance mortgages in the third quarter of 2023. That was up 5 percent from 490,412 in the prior quarter, marking the second quarterly increase in a row since loan rollovers hit a low point this century in early 2023. At the same time, though, the number of refinance packages remained down 25 percent from 692,113 in the third quarter of 2022 and

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