By Riley Kaminer
There are 50 million rental housing units in the US, with private individuals owning 71.6% of rental properties. The average landlord has three properties, and half of all landlords self-manage.
While self-managing can be a relatively budget-friendly option, it can end up taking a significant amount of time to manage things like rent collection, accounting, and maintenance requests.
Ori Tamuz became keenly aware of the frustrations stemming from property management when he bought a few rental properties here in South Florida.
“One day, Ori came into the office and said to me, ‘There’s no good software out there to manage my rentals. They’re all expensive and they’re all hard to use. Like let’s build this,’” David Bitton, Tamuz’s business partner, recalls of his exasperation.
“I’m like, dude, let’s focus on our current company first,” added Bitton. “Then we can discuss that.”
After exiting that business, law practice management platform PracticePanther, Tamuz and Bitton got their chance to make this dream a reality by founding DoorLoop.
In April 2021, CEO Tamuz and CMO Bitton – alongside three additional co-founders – launched DoorLoop’s suite of tools to reduce owners’ headaches when it comes to property management. The SaaS platform, which starts at $49 a month, digitizes financial, leasing, and operational tasks for landlords through an easy-to-use interface.
“What brings people in the door to DoorLoop is the beautiful UI, the ease of use, and the amazing features,” Bitton told Refresh Miami. “And then what keeps them on our platform is our world-class customer service and support.” According to Bitton, it is this support that has enabled the startup to compete with players who have been in the market for decades.
And compete they have. DoorLoop’s platform helps to manage hundreds of thousands of units across 103 countries. “Every single month we keep having our best month ever,” said Bitton. He acknowledged that this success can be partially attributed to the broader growth of the rental market.
The startup has raised $30 million, including a Series A round last fall. DoorLoop’s headcount is currently in the 80s, with 60 of those staff located in person in their Miami Beach headquarters. Bitton shared plans to continue this hiring trajectory with more team members across all verticals, with a particular focus on product and customer support. “We’re going to hit 100 employees within the next three to four months.”
Bitton, who moved to Miami when he was 15 and has been here ever since, acknowledged that local and state-wide political leaders have “done a great job of capitalizing on the explosive growth of tech.”
“I definitely see the tech market and PropTech market growing in Miami,” said Bitton, noting that half of the applications DoorLoop receives come from talented individuals who are looking to relocate to the Sunshine State.
This growth will benefit DoorLoop’s future plans – many of which center around executing their ambitious roadmap of new features. “Our goal is to become the platform or the operating system that sits in the middle of all other software companies – sort of like the Salesforce of property management,” shared Bitton. “Our mission is to help our customers grow their portfolios.”
READ MORE ON REFRESH MIAMI:
- Buy, rent, sell, manage: Miami’s proptech ecosystem may be as hot as our real estate market
- PropTech startup DoorLoop raises $20M Series A round
- Get ready for Getaway: Real estate investing you can actually enjoy
- Is a real estate property too good to be true? VisionX can give you the lowdown
- Roami reels in $14M Series A to ramp up short-term rental platform
