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 product is responsible for creating the most effective experience possible for our owner, tenant, workforce, and operations partners.
We believe that the most successful products start with the customer, and work backwards. The best customer experience does not always equate to creating the product with the most bells and whistles, or the most features. It means solving the problems and pains that acutely matter to the key customer. The right candidate will be able to articulate what a winning product looks like, rally the team to build it, and iterate on it until they get it right.
When we started Doorstead, we saw that property owners were being oversold aspirational rents, and this resulted in financial hardship to many of the owners who couldn’t afford the vacancy. We thought that if we could only provide a service guarantee, we could eliminate the customer pain and create a better experience for everyone. It turns out that doing the right for the customer was not only possible, it unlocked a better economic equilibrium for the industry.
The candidate in this role will be managing technology products for four core customers:
In the near-term, the ideal candidate will be working with a cross-functional team to create and launch Doorstead’s foundational products for its partners. This role will have significant influence in determining what gets built (and why) with significant autonomy and influence in the organization.
As the company grows, this role will become managerial and require the candidate to build and grow a multifaceted product team that spans our owner, tenant, workforce, and operations partners. We believe that hands-on experience will enable this candidate to become a better manager as this role grows with the organization.
Practically, the candidate will be responsible for:
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 likely need the following qualifications:
The role reporting structure is flexible and will report directly to the CEO, and you’ll have the opportunity to be part of the leadership team and from time-to-time, present your product vision to the board. As the company grows, this role will grow into a managerial role with direct reports.