There are 20 million single family residences (SFRs) in the United States, more than 19 million of which are owned by 15.5 million “very small investors,” individuals or families who own one or two units. For these rental property owners, there is little in the way of data or technology to help them understand the market rental rates for their property, find and market to the highest quality prospective tenants, and manage the ongoing maintenance of their rental units with minimal headache. Pain points like these are why more than a third of all SFR owners turn to property managers for help.
Full-service property management for SFRs is a hyper-local and highly fragmented business. And just like the owners, property managers have little in the way of data, tools, and automated processes to enable them to scale and work smartly. Further, there is a misalignment of incentives between traditional property managers and the owners they represent – managers can promise a high rental rate to win the business but do so without consequence if they secure a lower rate. They pitch fast leasing timeframes but have no skin in the game when vacancies stretch from weeks to months. Missteps on both of these fronts come at a high cost; they often are the difference between a homeowner making or losing money on their rental property each year.
Doorstead (DRE# 02089344) is here to address these pain points and more which have long been considered “unfixable” by property owners. Doorstead is a full-service, digitally-driven property management company that puts both the owner and tenant customers at the center of what they do. For owners, they eliminate uncertainty by guaranteeing market rents, caps on vacancy, and cash flow. The company invested early in building local data sets and machine learning models, leveraging tens of attributes for a given home to predict market-clearing rents that minimize vacancy while maximizing owner cash flow. The Doorstead guarantee gives owners peace of mind while aligning incentives of the owner and manager.
In less than 2 years of operations, we’ve booked 8-figure gross rents, indexed rental prices for over 10MM properties, and raised $17M+ from the investors who backed Redfin with participation from executives at Opendoor and Uber. We believe that without the smart, hard-working individuals that make up our winning team, we would not be where it is today. We have a once-in-a-lifetime opportunity to reimagine an entire industry and create the right way for today.
The head of finance is a full-stack role that oversees all of Doorstead’s finance activities for the past, present, future and beyond.
The success of a startup is based on how fast it’s growing and its ability to generate cash flows at a future date. We believe that a business that is instrumented at every step, capital efficient, and risk-mitigated will outperform other companies and be more likely to attract capital in the long run. Ultimately, this will increase our enterprise potential and enable us to be the national brand for property management.
The candidate in this role will be managing four core functions:
Broadly, the candidate will have the ability to envision and build a financial organization from a blank slate. You’ll need to collect data from our teams, organize information, build knowledge, derive insights, and apply wisdom throughout all of the systems at Doorstead. This will be a highly influential role with direct access our board and investors.
Practically, the candidate will be responsible for:
The candidate will need to have excellent time management and planning skills that enable them manage a portfolio of projects on different time scales:
The right candidate for Doorstead will fit into the culture if the following resonates:
To succeed in this role, the candidate will likely need the following qualifications:
This role will report directly to the CEO, and you’ll have the opportunity to be in the executive room with the leadership team. This role will be a managerial and individual contributor role with a lot of support from the team and external consultants. You will be managing a few full-time contractors who process payments and can conduct the day-to-day operational finance activities.