Inhabit, a software company serving the residential and vacation property management industries, announced it has added LMPM, a next-generation property management system, to its software ecosystem supporting the vacation rental industry. Terms of the transaction were not disclosed.
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LMPM is a rapidly growing enterprise property management software platform focused on delivering a cutting-edge, cloud-based system, complete with real-time trust accounting. The fully featured and highly scalable technology provides an end-to-end solution for handling complex bookings, real-time trust accounting, distributing inventory to online travel agencies, managing work orders, facilitating payment processing, and more. LMPM’s state-of-the-art system features rental agreements with e-sign, website development, reservation calendar, CRM, and reporting.
“At Inhabit, our focus is always on offering the best products to help property managers run their business,” said Lisa Stinnett, CEO of Inhabit. “LMPM is a fantastic addition to our already strong lineup of PMS systems. We want to offer our customers a choice in platforms that are built to serve their needs vs a one size fits all approach. This addition to our vacation ecosystem shows our ongoing commitment to the vacation industry and the property managers in it.”
This transaction gives Inhabit customers another PMS option, joining Streamline, LiveRez, VRM and SuperControl. Inhabit’s market-leading ancillary product offerings, covering core enterprise software, payments, insurance, accounting, and marketing are highly complementary with LMPM and will bring additional capacity to existing LMPM customers. The combination will further enable the company to meet the evolving needs and priorities of vacation rental companies.
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The acquisition will not alter Inhabit’s long held position of providing best in-class connections between Inhabit products and other select 3rd party platforms.
Adrian Barrett, founder of LMPM, added, “Everyone we’ve met at Inhabit has proven we’re joining a powerhouse of talented people. LMPM’s relationships with Lynnbrook and RentalGuardian have already made massive improvements for our clients in terms of automating payment processing and providing insurance solutions. I’m convinced that together our combined teams have no limits!”
LMPM’s headquarters will remain in Vancouver, British Columbia, and day-to-day operations will continue to be led by Clint Skidmore, COO. Stikeman Elliott served as legal advisor to Inhabit, while Coal Harbour Law, Vancouver, served as exclusive company counsel for LMPM.
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