OpenDoor works closely with real estate owners, developers, and investors to create high-performing coliving properties. We have validated our product with our current portfolio of 18,000 sqft across 3 properties, our extensive resident waitlist, and 9 additional properties opening over the next 18 months. We can work with a range of properties types and sizes, from 4,000 sq.ft. homes all the way up to 30,000+ sq.ft. multifamily apartments, renovation of existing assets to new construction. Our projects deliver strong unit economics, financially outperforming traditional apartments while also offering residents incredible value at reasonable rents.
OpenDoor takes a human-centered design approach to residential real estate, with a rabid focus is on delivering an incredible resident experience. We curate our spaces with thoughtful interior design and common furnishings. We offer residents a suite of services and programs, from regular cleanings and business-class wifi, to engaging community programming and events. We also integrate technology into all aspects of our operations, including 100% digital billing/leasing/payments, keyless entry systems, a community chat software, and more. Lastly, we uniquely theme and brand each of our properties, providing residents creative freedom to make the community their own.
We are industry leaders in community design, pulling from our years of direct experience developing and managing coliving properties. We know where to spend and where not to, to deliver the best resident experience and financial performance.
We work with developers and owners to deliver high-performance projects. We provide a model that generates better returns and a positive social outcomes, adding value through both design and management. Developers provide leadership on property sourcing, entitlements, and construction management. We structure our partnerships through a combination of design consulting, property management and/or master lease agreements.
We develop coliving properties, and offer direct placement of capital into our deals. Our model provides better cash yields than standard residential rentals, with significant downside protection. Investors receive cash flow from the rental income as well as a share of the asset appreciation, and their investment is secured by a real asset. We work with private individuals, family offices, boutique funds, and private equity real estate groups. Our ideal equity partner can work with us on a portfolio scale, but we’re happy to speak with people interested regarding single asset investing as well.