6 Rental Property Management Platform Success Stories [2024]

Pat Walls

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Updated: January 7th, 2024

Start A Rental Property Management Platform

Rental property management is the process of finding and screening tenants, collecting rent, managing vacancies, and performing maintenance on rental properties. Rental property management platform is a software that helps you manage your rental property. It can be used to manage your tenants, collect rent, and keep track of other expenses.

The income you can earn from a rental property management platform is dependent on the number of properties you manage. If you are managing one property, your income will be relatively low. If you manage five properties, your income will increase but not by much.

Services of Rental property management:

Monthly rent collections
Security deposits
Property management fees
Maintenance fees

Here are some real life success stories of starting a rental property management platform:

1. TenantCloud ($12M/year)

The founder of TenantCloud, who grew up in a small reservation town, became both an investor and a landlord, experiencing the challenges firsthand. Recognizing the need to streamline property management for landlords, they created a product that combines various functions such as rent collection, tenant screening, maintenance scheduling, and accounting all in one platform, catering to the 15 million landlords in the US who own 21 million rentals and house 60 million tenants. With a projected revenue of $15 million in 2021, TenantCloud has achieved profitability and plans to continue growing by making strategic acquisitions in the future.

How much they make: $12M/year
How much did it cost to start: $250K
Current team size: 130

We Launched A $12M/Year Property Management SaaS For Landlords & Tenants

TenantCloud is a leading property management software designed to assist DIY landlords in managing their rental properties, with revenue projected to reach almost $15 million by the end of 2021.

About

Joe started TenantCloud over 9 years ago

Revenue

Joe grew the business to $1M/month

Costs

It cost Joe $250000 to start the business

Read this case study

Read by 4,513 founders

Learn more about starting a rental property management platform:

Where to start?

-> How much does it cost to start a rental property management platform?
-> Pros and cons of a rental property management platform

Need inspiration?

-> Examples of established rental property management platform
-> Marketing ideas for a rental property management platform

Other resources

Part of

Starting A Rental Property Management Platform: Everything You Need To Know

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4. StreetEasy

Where they're located: Manhattan Community Board 1, New York, USA
Website traffic: 11.4M/month

5. Propertyware

Propertyware Does What Others Can’t. Propertyware is a user-friendly residential rental property management software for single-family properties.

Where they're located: Charlotte, North Carolina, USA
Website traffic: 2.13M/month

6. rentmanager

Rent Manager is a powerful property management software tool that combines all the features you need to run your business into one integrated platform.

Website traffic: 3.25M/month