LandlordStation, a provider of online tools for property managers and landlords throughout the United States, has announced that it received $750,000 in seed funding to accelerate the growth of its platform. Since it's founding in 2012, more than 60,000 landlords, property managers, and real estate brokers have used the platform to help in the management of their multi-family properties.
LandlordStation's suite of products includes Tenant Screening, Online Rent Payments, Tenant Portals, E-signatures and Document/Data Management.
Unlike traditional property management software, LandlordStation is fully cloud-based and is built for the small to mid-sized property manager, a group that has been overlooked in the past.
Copley Broer, Co-founder of the company stated, 'Because it is such a fragmented market, small to mid-sized property managers have generally been ignored by software providers to-date. However, the data show that this group accounts for over half the multi-family market in the US, more than 20 million units, so we feel that there is an enormous opportunity in building tools that cater to them.'
Dallas-based venture capital firm Mavor Lane, LLC lead the investment round. LandlordStation intends to use to the funding primarily to grow marketing, which so far has been mostly word of mouth, and to grow its development team in order to speed up time to market for new products and services.