Doorstead

Doorstead handles all aspects of property management for single-family properties–from getting the property ready for lease to managing the properties throughout the entire lease terms. Doorstead specifically targets the 15 million individual investors who own around 95% of single-family rental properties across the country. Doorstead charges 8% of rents, with no placement fee, for its services. Doorstead uses a patent-pending pricing system that compares more than 11 million rental price points to dynamically change rental prices and minimize vacancies. The company claims that landlords generate an average of USD 2,300 more in rental income every year than before using the platform. Moreover, Doorstead provides guarantees to property owners in terms of occupancy date, rental rate, and a year of cash flow.

In 2022, it launched its platform in Seattle’s metropolitan area , which marks its first national expansion outside California. As of January 2023, Doorstead had over USD 1 billion worth of properties under management and had over 150 employees (nearly 80 employees based within the US). It operates in seven markets in the US, including California, Washington, and Massachusetts, and had plans to double or triple its operations by the end of 2023. 

In January 2023, the company announced the acquisition of Knox Financials, a property management platform, for an undisclosed sum. Through this acquisition, Doorstead expanded its operation on the East Coast and grew its customer base with Knox Financial’s clientele in Massachusetts. Knox Financial ceased operations at the end of 2022.

Funding and financials

In January 2023, Doorstead raised USD 21.5 million in Series B funding led by Avanta Ventures (venture arm of CSAA Insurance Group). The company intended to use the funds to support its geographic expansion plans and improve operational efficiency to drive profitability.