The Venture Codex

Participated · Equity · Jul 2015

Tenant Turner is a Richmond, Virginia-based company that provides a SaaS leasing platform for residential property managers. Led by President and CEO James Barrett, its platform automates the leasing process with a 24/7 solution that tracks leads from multiple platforms. The product aims to reduce vacancies by providing managers with insights to find qualified tenants faster. The company said it received an investment from The Center for Innovative Technology’s CIT GAP Funds. It will use the funds to enhance data analytics capabilities and to broaden marketing and sales strategies. The amount of the deal was not disclosed. Tenant Turner offers software for landlords to source and choose qualified tenants while complying with fair-housing rules. Its platform automatically lists properties on the top 20 listing sites and pre-qualifies renters by verifying income, pulling credit reports, running background checks, and checking rental history. The product filters applicants with basic questions (for example, pets for no-pet properties) and coordinates property viewings with text and email reminders. Pricing starts at $119 per rental listing and decreases with the purchase of multiple listing credits. The company was founded by James Barrett, Chris Stewart, and Brandon Anderson out of the aftermath of the 2008 financial and housing crisis. Operationally, Tenant Turner has about 200 listings across single-family homes, condos, and townhomes and has raised $500,000 from investors including Y Combinator.