A new startup called Doorstead doesn’t want you to miss out on a month’s rent just because you can’t find a tenant. Calling themselves a “full-service property management with guaranteed rental income,” the new company will not only manage your property but guarantee rent for rent for a certain number of days – even if it can’t fill the unit. In addition TechCrunch reports that they will handle all the algorithmic pricing, advertising, tenant screening, repairs & maintenance, leases and online payments in exchange for just 8% of the rent. Caveat emptor indeed….
“Owners just sit back and receive the money, making it much easier to profit off of distant real estate. The startup claims to earn users 3% to 9% more than other property management models.”