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Pros & Cons of DoorLoop: Analysis of a Popular Property Management Software

What are the pros and cons of DoorLoop?
The pros and cons of DoorLoop lie in its rich feature set that addresses both tenant and owner concerns and its document storage limits. The platform also streamlines property management tasks and offers stellar onboarding and support.

The pandemic has posed unique challenges to both renters and property managers and owners. On the side of renters, loss of employment income means struggling to pay rent and being behind on their payments. Meanwhile, fluctuating rental prices in some areas driven by pandemic-related migration mean that it’s more difficult for property owners and managers to realize a profit on their properties. Luckily, there are property management software solutions like DoorLoop that can address both concerns, making it useful during these times of uncertainty.

In this article, you will get to know the pros and cons of DoorLoop, an emerging rental property management software. You will find out the key features that make it a good investment as well as some areas where it needs further development. With this knowledge, you can decide for yourself whether it’s a solution worth buying, given the financial constraints that pervade the rental business.

doorloop pros and cons

The far-ranging reach of the pandemic has impacted almost all industries, including the rental property business. Recent trends in rental property prices reveal the state of the rental market for 2021. One notable development is the decrease in rental prices in the biggest markets for one-bedroom apartments. Rental prices in Washington, D.C., for instance, decreased by -20.3% on average to $2,199 for one-bedroom apartments as of May 2021. On the flip side, there have been increases in one-bedroom apartment prices in certain markets, such as Las Vegas, Nevada; Jacksonville, Florida; and Tucson, Arizona. This shift in property rental pricing is driven in part by remote work trends and the migration away from large city centers due to pandemic-related fears.

Source: Apartment Guide, 2021

Another report about the state of the nation’s housing shows that more than one-fifth of households in the US struggled to pay rent in early 2021. Households that had arrears in rent payments were located mostly in the South, with Mississippi having the highest share at 27%. This means that landlords have less profit, with 61% of them saying that they had accumulated at least $5,000 in lost rental income during the pandemic.

What is DoorLoop?

DoorLoop dashboard

DoorLoop is a rental property management software that makes it easy for property owners and managers to oversee and grow their business. The software unites key aspects of rental property management in one place, from advertising your property to collecting rent and renewing lease agreements. All these are available in one easy-to-use, cloud-based software, which can be accessed from any location with an internet connection.

DoorLoop is a great help to busy property owners or landlords or managers. It can also be used by property management companies and investors. Through specialized portals, it can even be used by tenants to pay the rent due and monitor their payments.

No matter how big or small your property portfolio is, DoorLoop can help you manage it. It can be used to supervise residential properties, commercial spaces, student housing, community associations, affordable housing, and more. Through automated payment reminders and online payment options, property owners and managers can grow rentals and renewals and thereby boost their profits. The system also provides a way to convert otherwise manual tasks like bookkeeping and making maintenance requests to digital form, automating the rental property management process and lessening the burden on property managers and owners.

DoorLoop does have a mobile app that allows you to access every screen and feature in the entire platform. The app can be used on Apple and Android smartphones and tablets.

DoorLoop

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DoorLoop has the following key features:

  • View Properties
  • Filter Properties
  • Rent Reminders and Receipts
  • Tenant Portal
  • Offer Renter’s Insurance
  • Edit Lease Terms
  • Manage Prospects
  • Receive Maintenance Requests
  • Create Charts of Accounts
  • Online Payments
  • Draft Rental Leases

Detailed DoorLoop Review

Pros & Cons of DoorLoop

Easy Property Management

With DoorLoop, you can manage a variety of residential, commercial, and industrial properties. You can manage townhouses, condominiums, office spaces, retail spaces, storage units, parking lots, and more.

The software also includes an intuitive search bar that you can use to search for properties by keyword. You can also filter properties by portfolio, status, owner, class, or type. When you click on an entry, you can get an overview of the property, such as its type, active units, owners, and address. In addition, you can put all your notes about the property as well as files, such as insurance documents and signed lease copies all in one place. This equips small businesses with a way to manage their documents without purchasing a separate document management software.

Document storage is limited to 50MB per unit for the Starter plan and 5GB per unit for the Pro Plan. However, if you feel that your storage needs will exceed these limits, you can always switch to the Premium plan, which offers unlimited document storage.

DoorLoop Overview

The property landing page in DoorLoop gives users an overview of the property.

Simplified Workflow and Task Automation

DoorLoop helps property owners and managers lessen their workload by automating repetitive tasks. For example, they can set up notifications for rent reminders and receipts so they don’t have to go through the cumbersome process of doing these manually. Tenants can receive email notifications on upcoming rent charges and reversed payments. On the part of the property owners or managers, they can also send payment receipts to tenants to notify them when they receive rent payments.

There is also no need to switch to different apps just to get all your property management tasks done. DoorLoop both has balance sheets and income and expense accounts with different account subtypes for each. This eliminates the need to create spreadsheets, set up formulas, and update them when transactions occur. One can also create tasks, work orders, and tenant requests right from the system so you don’t have to create such documents in a word processing program.

Doorloop Notifications

Users can set up notifications for upcoming charges, payments received, and payment reversals in DoorLoop.

Unified Hub for Property-Related Tasks

The property management process involves many steps, from advertising your rental space to tenant move-in to lease renewal. DoorLoop allows you to move in tenants so you have a record of their name and move-in date. You can set their lease terms in the system or require them to get renters insurance for the property. When it’s time to pay the rent, tenants can settle the rent in full or partially through online payment options set up in their own tenant portal. Should the tenant decide to move out, the system also lets you record the tenant name, move-out date, and the move-out notice date.

Part of property management is listing your property online. As of this writing, the ability to natively post listings on your own custom website or on third-party websites is an upcoming feature. However, DoorLoop’s open API infrastructure means it can be integrated with Zapier so that you can publish and market listings on Zillow, Trulia, RealEstate.com, and other property listing sites.

Improved Tenant Services

DoorLoop has a variety of value-added, tenant-centered features that help property owners and managers provide better service.

Even before they become tenants, property owners and managers can evaluate tenant prospects based on monthly income, credit score, eviction history reports, and other related information. Tenant screening ensures that the prospect is a good fit for the property.

At the outset, property owners and managers can require tenants to pay renters insurance. For as low as $10 a month, DoorLoop offers renters insurance from Sure, which tenants can purchase straight from their online tenant portal. With renters insurance, tenants don’t have to worry about paying for property damage straight from their pockets. At the same time, insurance protects property owners and managers in the event that the tenant cannot pay for damage to the property.

The most recent online payment statistics show that digital commerce and mobile payments have become popular due to pandemic-related restrictions. DoorLoop can also process payments through RapidRent, its own brand of online payment processing that’s powered by Payrix. Through RapidRent, tenants can pay using all major credit and debit cards as well as through ACH wire transfers. RapidRent also allows property owners and managers to send automated payment reminders, track paid or overdue rent, and automate rent collection.

Doorloop Profile

DoorLoop allows users to view the marketing profiles of prospects and tenants.

Discounted Pricing Until 2022

In a bid to grow its subscriber base, the DoorLoop property management software is 50% off for all subscribers until January 1, 2022. Early access members only have to pay a one-time onboarding fee. In turn, pricing plans are based on the number of properties to be managed.

With this limited-time offer, property owners and managers can try DoorLoop for half off with a 30-day money-back guarantee. They have enough time to fully test the features of the software and decide if it is a good fit for their business. After January 1, 2022, plans start at $49 per month billed yearly for up to 20 units.

Comprehensive Onboarding and Support Options

With its simple and intuitive interface, property owners and managers can use DoorLoop right away. Even if they do need help with onboarding, training can take only one to three hours to complete. For a low one-time cost, DoorLoop offers unlimited training, onboarding, and data migration.

As for support, all plans also include email and chat support. Additional phone and Zoom support for Pro plans are available, while priority support is included in Premium plans.

For all the great onboarding and support options DoorLoop provides, they also have a new mobile app recently released so you can get all your work done or check-in on the back-office on the go.

Open a Door of Possibilities with DoorLoop

Many property management solutions exist on the market today. With the challenging economic climate, it is wise for property owners and managers to look for the best property management software for their small business in order to get a return on their investment. Relatively newcomer DoorLoop is giving established solutions a run for their money by offering its property management system for free until 2022.

As discussed in the pros and cons of DoorLoop above, property owners and managers can maintain various properties regardless of portfolio size using this platform. In addition, users can perform varied tasks within one system and do not have to juggle multiple apps. Most importantly, it aids property owners and managers in boosting profits through features like rent payment reminders and online payment options. All these are housed in a cloud-based tool that is easy to set up and learn. While DoorLoop has limits in document storage, its robust functionality and easy-to-use interface more than make up for this minor shortcoming. All things considered, DoorLoop truly opens a door of possibilities to rental owners and businesses that want to bounce back from the difficulties of the pandemic.

Nestor Gilbert

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.

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