Rent.com.au Limited announced that it has entered into a strategic partnership agreement with Origin Energy Limited to jointly develop offers and services that help provide value to Australia's 8 million renters. Initially, the partnership will see products rolled out across two key channels. Note, a customer may not take up both the Rent.com.au and the RentPay offer.

Similarly, the Company will only earn one commission from Origin. Finding a new property and then moving in can be stressful events. Rent.com.au's RentConnect product is designed to make life a little easier by offering a simple online service to have the customer's electricity and gas services connected and ready on moving day.

The partnership allows Rent.com.au to earn a commission for each customer that signs up to one of Origin's electricity or gas plans. Rent.com.au then provides a $100 gift card to each eligible customer. This is consistent with how the product currently operates.

A consistent insight from Rent.com.au customer surveys has been the significant proportion of Rent.com.au customers expressing an interest in `bill smoothing', that is, being able to pay some of their bills on a frequent, regular basis to help manage budgets and avoid cost surprises. RentPay will receive a commission for each customer paying amounts towards their Origin energy bills via the Bill Smoothing feature in RentPay, with the amount depending on whether the customer uses just electricity or gas, or both energy sources. In turn, RentPay will rebate each RentPay `Bill Smoothing' customer $5 per week if they pay towards both electricity and gas services with Origin (dual fuel) or $3 per week for those who only pay towards either electricity or gas bills (single fuel).

Based on an assumption the company made of a 30% take-up rate amongst RentPay's customer base and an assumed dual fuel vs single fuel split based on what the Company experiences via its RentConnect product, the Company estimates that this could generate an Average Revenue per User (`ARPU') of $7.50 per month.