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 legal & compliance oversees the ethics and legal compliance of all of Doorstead’s business activities. We believe in being a good stewards to our owner partners, being fair-and-just to our tenant partners, and empowering our teammates to be the best version of themselves.
The candidate in this role will be managing three core functions:
The candidate will be responsible for overseeing
The ideal candidate will need to be able to manage their time effectively and be able to manage a portfolio of projects on different operating cadences:
The right candidate for Doorstead will be someone who has:
To succeed in this role, the candidate will have to have a meticulous attention to detail, an ability to see the big picture, and to break down complex processes into simple steps. The candidate should enjoy the process of creating, refining, and organizing everything in an organized and well-defined system.
This role will report directly to the CEO, and you’ll have the opportunity to be in the executive room with the leadership team. As the company grows, this role can grow into a managerial role with direct reports.