Investor Brief · 2026
The $11 Billion Opportunity in
Fragmented Property Management
ResiGrid disrupts the $11B property management software market by capturing the 11 million independent landlords priced out by legacy incumbents. Capital-efficient, venture-scale go-to-market with ~$2M Year 1 revenue at 20% seed SAM penetration.
The Broken Market
Incumbents Dominate Through Extraction, Not Innovation
Monthly Minimum
AppFolio's floor locks out millions of independent landlords who own fewer than 50 units.
Tenant ACH Tax
Legacy platforms charge tenants $2.49–$7.99 per payment just to pay rent online.
Vacant Unit Billing
SaaS subscriptions bill full rate even when units sit empty — punishing landlords during turnover.
| Feature | ResiGrid | AppFolio | Buildium | Rentec Direct |
|---|---|---|---|---|
| Monthly Minimum | $0 | $280+ | $50+ | $35+ |
| Tenant Payment Fees | $0 | $2.49+ | $1.99+ | $2.95+ |
| Vacant Unit Cost | $0 | Full rate | Full rate | Full rate |
| Per-unit monthly | $1 / occupied | Bundled | Bundled | $1.50+ |
| Tenant Reputation | RGE Score ✓ | — | — | — |
| Feature Gating | None ✓ | Yes | Yes | Yes |
Revenue Model
Two Revenue Streams. Zero Tenant Extraction.
PMs pay a transparent one-time onboarding fee and a lean monthly recurring subscription. Tenants are always free.
Stream 1 · One-Time
PM Onboarding Fee
Collected at signup. Scales linearly with portfolio size.
Stream 2 · Recurring
Monthly Subscription
MRR compounds with every new unit added to the platform.
Tenants · Always Free
Zero Extraction Policy
Free tenants drive viral adoption — landlords follow their tenants onto the platform.
Market Opportunity
11 Million Landlords. Zero Barriers to Entry.
This massive demographic is completely locked out of AppFolio due to high monthly minimums. ResiGrid captures them instantly with zero onboarding barriers and transparent pricing.
ResiGrid's TAM Breakdown
Total Addressable Market
11M landlords · $11B market
Serviceable Addressable (1-50 units)
~8M landlords · ~28M units
Seed Round Target
100K PMs · 500K+ units
4 Tiers of Market Adoption · Seed SAM Penetration
Conservative Revenue Projections
Based on 100K seed-addressable PMs · avg 5-unit portfolio · $40 + $10/extra unit onboarding · $1/mo per occupied unit (90% occupancy assumed) · 6-month linear ramp
Seed Traction
PMs Onboarded
5,000
Units Under Mgmt
25,000
Onboarding Rev
$400K
MRR at Scale
$22.5K/mo
$100K Seed Payback
Month 3
Beyond Year 1 subscription ARR: $270K
Market Entry
PMs Onboarded
20,000
Units Under Mgmt
100,000
Onboarding Rev
$1.6M
MRR at Scale
$90K/mo
$100K Seed Payback
Month 1
Y2 subscription ARR: $1.08M recurring
Regional Scale
PMs Onboarded
50,000
Units Under Mgmt
250,000
Onboarding Rev
$4M
MRR at Scale
$225K/mo
$100K Seed Payback
Week 1
Y2 subscription ARR: $2.7M recurring
Full SAM Capture
PMs Onboarded
100,000
Units Under Mgmt
500,000
Onboarding Rev
$8M
MRR at Scale
$450K/mo
$100K Seed Payback
Day 2
Y2 subscription ARR: $5.4M recurring
| Tier | SAM % | PMs | Units | Year 1 Revenue | Seed Payback | Y2 ARR |
|---|---|---|---|---|---|---|
| Tier 1 · Traction | 5% | 5,000 | 25,000 | $535K | Month 3 | $270K |
| Tier 2 ★ · Entry | 20% | 20,000 | 100,000 | ~$2.14M | Month 1 | $1.08M |
| Tier 3 · Scale | 50% | 50,000 | 250,000 | $5.35M | Week 1 | $2.7M |
| Tier 4 · Full SAM | 100% | 100,000 | 500,000 | $10.7M | Day 2 | $5.4M |
Unit Economics
Venture-Scale Margins. Capital-Efficient Acquisition.
Year 1 Economics
Retention Economics
Case Study: Birgo Capital Portfolio
3,600-unit institutional landlord — quantified ROI
Current Cost (AppFolio)
$129,600/yr
$36/unit/month
ResiGrid Cost
$40,576/yr
$0.94/unit/month avg (occupied)
Annual Savings for Birgo
$89,024/yr
68.7% cost reduction
Year 2 Revenue Projection
Subscription Revenue Compounds After Year 1
Year 2 drops one-time onboarding dependency — pure recurring subscription MRR from an established PM base, with 10% annual portfolio growth assumed.
5% SAM
20% SAM
50% SAM
100% SAM
Competitive Advantage
Three Pillars of Disruption
$1 Per Occupied Unit
Flat annual onboarding fee + $1/month per occupied unit. Vacant units = $0. Landlords only pay for what they use — and tenants pay nothing.
- ✓ Zero tenant fees
- ✓ No feature gating
- ✓ Full transparency
The RGE Score
Portable, immutable tenant reputation ledger. Every on-time payment builds a trust profile that tenants own and carry forward to their next lease.
- ✓ Verified reliability
- ✓ Reduces landlord defaults
- ✓ Network effects compound
Fair Data Ecosystem
Built-in incentives for both landlords and tenants. No extraction — only alignment and transparency driving viral, low-CAC growth.
- ✓ Lower churn
- ✓ Sticky platform
- ✓ Viral acquisition engine
Seed Round Allocation
$100K Capital-Efficient Deployment
Capital Allocation at a Glance
Smart Home / IoT
$40,000Finalize edge-device access control, climate monitoring, and automated vacant unit alerts that lock-in landlords at the hardware level.
Cloud Infrastructure
$30,000Fortify server capacity to scale the immutable RGE ledger globally — the core moat that no competitor can replicate retroactively.
Sales & Marketing
$20,000Target the 11M independent landlords (1–5 units) with zero-minimum, fee-free campaigns on platforms where small landlords self-identify.
Legal & Compliance
$10,000Establish fair-data compliance frameworks and terms for the portable RGE Trust Profile as state data-portability laws evolve.
Investor Takeaway
The Independent Landlord Market Has No Incumbent. We're Filling It.
ResiGrid's model is capital-efficient by design: a one-time onboarding fee recoups the $100K seed investment at Tier 2 in Month 1. Recurring subscription MRR then compounds at 85%+ gross margin with <5% churn. The RGE Score creates a network-effect moat that no competitor can replicate without historical data — and tenants carry it to their next landlord, turning every satisfied renter into a new landlord acquisition channel.
Even at the conservative Tier 1 scenario (5% seed SAM), the $100K seed is recovered by Month 3 with $270K in Y2 recurring revenue. At the most-likely Tier 2 target (20% SAM), Year 1 tops $2M and Year 2 ARR reaches $1.32M in pure recurring revenue — all from a single seed check.
Join the Grid.
Let's build the Residential Grid Economy together and reshape how millions of landlords manage their portfolios. Schedule a pitch or learn more about the team behind the platform.
For accredited investor review only · Not a public securities offering · Revenue projections are estimates based on modeled adoption scenarios