Tuesday, December 6, 2022

Knock knock: DoorLoop launches web portal solution for landlords

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Websites created on DoorLoop’s system will be mobile responsive and allow rental property managers and owners to create a dynamic web presence that assists prospective tenants in viewing available units, completing applications and submitting background check data.

New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.

Two months after closing on a $20 million Series A funding round, leasing proptech DoorLoop has rolled out custom website design functionality for landlords and property managers, according to an announcement sent to Inman.

Websites created on the system will be mobile responsive and allow rental property managers and owners to create a dynamic web presence that assists prospective tenants in viewing available units, completing applications and submitting background check data.

When combined with DoorLoop’s existing back-office suite, the web design product links the consumer-facing needs of landlords — marketing, application management and background verification — to the critical functions of their administrative back-end.

This new offering can be “game-changing” for landlords and property managers who often rely on street signage, expensive third-party listing networks and word-of-mouth to find leads and initiate leasing, DoorLoop CEO and co-founder Ori Tamuz said in a statement.

“Users will have one central location where they can share all available listings with the world — no realtors, advertising, or design agencies needed,” Tamuz said. “DoorLoop’s new offering helps alleviate the burden of property management in an extremely cost effective way.”

The solution also allows existing tenants to make repair requests and submit rent payments using a personal URL linked to their financial records and leasing history. Users will also see vacancies within their communities and gain access to other tenant portal benefits.

Customers of DoorLoop will choose from 10 website design templates for use with their properties. Each will allow for content population under the pages of “Home,” “About Us,” “Properties,” “FAQs,” and “Contact.”

DoorLoop is experiencing steady growth, with 400 percent growth in revenue in the last year, Inman reported in September.

It is not the only proptech in the property management space to benefit from the housing market’s about-face from 2021 and the ensuing spike in rental activity.

RentSpree, a fast-moving entity in that space, landed $17 million in late August. And Zumper, despite recent layoffs, announced $30 million in funding in August of this year to expand into short-term management services.

Even as venture capitalists continue to woo apartment proptechs, the landlords they serve are feeling the pinch of the contracting economy. Rent prices for single-family homes, a growing segment, slowed for the fifth consecutive month, according to data company CoreLogic.

“A [CoreLogic] report from October found apartment demand fell in the third quarter for the first time in 30 years of tracking and at a time when demand for new leases is typically high before slowing in the final three months of the year,” Inman reported.

DoorLoop’s product launch timing appears sound as leasing agents will need new ways to find and sign tenants and save money through efficient applications of technology.

Email Craig Rowe

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