S8E82 Interview with John Fagan, CEO at Doorkee
No matter how many units a landlord owns, maintaining a low vacancy rate is always a top priority. However, in order to keep low vacancy, this requires knowing if your tenant(s) is/are going to renew or if they plan on moving out. Many lease agreements require only a 30 day notice, which isn't always enough time to market the unit, schedule tours, perform maintenance and cleaning, and get the next tenant moved in without missing a few weeks or a month of rent. And depending on the location or type of unit, the landlord should probably budget 60 days from marketing the unit to filling it.
Enter Doorkee. Doorkee was co-founded and is lead by CEO John Fagan. Doorkee is working to help New York City landlords rethink how they turn over units. Doorkee incentivizes tenants to give advanced notice they're planning to move out and handle showings. Doorkee is perfecting the process of aligning the interests of landlords and tenants—and that's awesome. This prevents landlords from facing extended and expensive vacancies, and much more.
This is a longer than usual episode but John and I covered a lot and I think you'll enjoy the discussion as much as we did.
Doorkee is a peer-to-peer apartment rental platform where Landlords, Departing Tenants, and Apartment Seekers work together.
Landlords pre-lease units, saving money on vacancy, broker fees, and marketing costs. Departing Tenants earn a rent refund of ~$1,000 by giving early notice and providing apartment tours.
Apartment Seekers find their perfect home months sooner than ever, searching, touring, applying and closing on an all-in-one platform - without every paying a broker fee.