I am very pro this company and it is interesting to see not only the 0.6 cent line taken out today, but also the 0.7 line taken out completely too, after generally being rangebound at 0.6 for weeks.
I think people have realised now that this is definitely happening, with the offer fully subscribed and the only way to buy into this promising new company is directly through SLT. There were also quite a few trades into the 0.8 line, making it some 32% up for the day at peak.
I have been watching the listings steadily increasing on the Rent site, particularly in Sydney and Melbourne, who were initially behind Perth. They seem to be capturing virtually all of the listings from the main sites like Realestate.com and Domain and once they start to properly capture the private owner-managers that reputably makes up 46% of the entire rental market, then there will not be a site close to it as far as listings go.
As a simple example of how they are capturing a huge array of properties every week, the link below shows that there are over 500 available flats and houses listed, all within 3 kms of Sydney's airport, shown here in "map view"
With the paid service "Rentbond" also gathering acceptance quickly and the likelihood of current users using it again and again when needed, this alone could underpin the company as it establishes itself as the "Go to" site for Australian rentals.
Looking forward to see how this all pans out in the next few months.
Regards Madoff
SLT Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
