When it comes to choosing a property management company in 2024, it's crucial to understand what sets each provider apart. While many companies offer similar services, there's one key differentiator that makes Doorstead stand out from the rest: our true rent guarantee. In this post, we'll compare Doorstead to competitors like Belong, Mynd, Ziprent, and Zeus, highlighting how our genuine guarantee provides unparalleled peace of mind for property owners.

Doorstead's Guarantee

At Doorstead, we don't just promise to pay you rent - we actually do it, even if your property is vacant. Our pioneering Rent Guarantee is a real insurance policy to homeowners. If your property doesn't generate rental income, if your tenant moves out, or another other combination of scenarios, we pay you out of our own pocket. This sets us apart from competitors who might claim to offer a "guarantee" but don't actually back it up with their own funds. With Doorstead, you have the certainty of a fixed rental income, no matter what.

How Doorstead’s offering compares to other property managers

Belong 

While Belong focuses on creating a homey experience for tenants, they don't offer a true upfront rent guarantee. They only provide a guarantee after a tenant is placed, which can lead to unpredictable returns for property owners.

Pros:

• Tenant-Centric Approach: Belong emphasizes creating a sense of home for tenants, which can lead to longer tenancies and well-maintained properties.
• Comprehensive Services: They handle rent collection, maintenance requests, and move-in inspections. Handles full-service property management similar to Doorstead. 

Cons:

• Rent Guarantee after tenant placement: Belong does not offer an upfront guaranteed rental income, which could result in fluctuating returns depending on vacancy. With Belong, a tenant has to be placed before the rent is guaranteed, which may mean unpredictable returns on your investment. Doorstead starts paying your rent on a timeline you control, regardless of tenant placement. 
• Belong takes a tenant-centric approach, which could result in longer tenant tenures. However, their focus on crafting a 'homely' experience might not align with all homeowner's and tenants' timelines, pricepoint, or property expectations.
• In-house maintenance: Companies using in-house maintenance models collect money from repairs and could upcharge for maintenance tasks and suggestions.

Mynd 

Mynd is a good choice for investors with larger portfolios, but they don't provide a rent guarantee at all. This lack of guaranteed income can create uncertainty for property owners.

Pros:

• Tech-integrated services: Mynd leverages technology for efficient property management.
• Nationwide coverage: Mynd has a large nationwide footprint, offering services in many markets.
• Scaled for Investors: Good for investors with a larger portfolio of homes, especially 4+ properties.

Cons:

• No rent guarantee: Mynd does not offer a rent guarantee, potentially leading to uncertainty in rental income.
• Complex pricing: Their separate fees for different services can make their pricing structure less transparent. If your rental payment is less than $3316, you would be paying more than 6% management fee than working with other processions. Their pricing can be more complex, with separate fees for different services that can add up.
• Less niche: If you’re looking for just property management instead of managing your whole real estate lifecycle, Mynd might provide more service offerings and plans than you need.
• Insurance capped: Protection up to $5,000. 
• Mynd charges the monthly rate and one-time costs for new leases and lease renewals. You also pay for all service, repairs, and maintenance requests.

Ziprent 

Ziprent offers a simple flat fee pricing model, but like Belong, they don't provide a genuine rent guarantee. Your monthly income is still subject to vacancies and market fluctuations.

Pros:

• Flat Fee Model: Ziprent charges a set amount of $125 each month regardless of rent collection, simplifying costs for homeowners.
• Full Services: Tenant placement, online rent collection, 24/7 support, and property concierge are all part of their package.

Cons:‍

• No Rent Guarantee: Unlike Doorstead, Ziprent does not guarantee rent. This could leave your monthly income vulnerable to vacancies or market price fluctuations.
• ‍Cost Effectiveness: The flat fee model may not always translate into cost savings, especially for properties with high rental income. While this model can bring predictability to cost management, it doesn't consider the value of the property or the services offered.
• ‍Lowest cost possible: Cost savings are important, but long-term proactive maintenance and upkeep at a slightly higher price can provide long-term returns as a homeowner or landlord.
• Older dashboard: the dashboards are not as tech-forward or easy to navigate as some competitors.

Zeus 

Zeus specializes in furnished short-term rentals but doesn't offer any kind of rent guarantee. The short-term rental market can be volatile, exposing property owners to significant risk.

Pros:

• Niche market: Zeus specializes in short-term, furnished rentals for business travelers, offering a unique market segment.
• Comprehensive management: They handle everything from furnishing properties to maintaining them.

Cons:

• Fluctuating demand: The demand for short-term business rentals can fluctuate, adding a layer of risk.
• No rent guarantee: Zeus also does not offer a rental income guarantee.

Why Doorstead's real rent guarantee matters in a crowded market

In an uncertain world, Doorstead's rent guarantee provides unmatched stability and peace of mind. You can count on a steady rental income, even if your property is vacant. This is especially valuable for remote landlords, first-time homeowners, or those wanting to minimize risk and guarantee returns.

With Doorstead, you get the best of both worlds: the benefits of full-service property management and the security of a genuine rent guarantee, all powered by our tech-driven approach.

When comparing property management providers in 2024, it's essential to look beyond surface-level claims. Doorstead's true rent guarantee sets us apart, providing property owners with a level of security and certainty that competitors simply can't match. If you're looking for peace of mind and guaranteed returns, Doorstead is the clear choice.