Flip is Now Caretaker - Here’s Why

Susannah VilaLeadership

We started Flip to solve a problem experienced by a small amount of people very acutely: that feeling when you gained a job, lost a job, fell in love, out of love and your life no longer fits with your lease. You’ll do anything to move now without covering rent in two places at once. Our name makes perfect sense for you because "flipping your lease" feels like exactly what you want to do.

In order to solve this problem for leaseholders we ended up building a platform that also solves a problem for landlords. Here’s how that happened. Our first tagline was "subletting, taken care of" which meant that we'd built a collection of tools that made it pretty easy for a renter to replace themselves on a lease with a subtenant so they could leave early. After that we launched a new offering called Flip Instant where we assumed full responsibility for the remaining months of tenant's lease, promising their landlord that we'd pay the rent no matter what. We found and selected the best replacement tenant, got that person moved in, managed their repair, maintenance and utility needs and collected rent from them so we could pass it along to the landlord. In effect, in order to flip leases we'd built a pretty great property management platform. Since we built every tool for ourselves to use, first, we knew how well it worked down to the smallest detail.

With an increasing amount of rental housing owned by individual investors, we decided to offer this platform to people who (like we had) wanted to place and retain tenants in faraway cities. That’s why we’ve outgrown our name. From here on out, we'll continue to help leaseholders move when they need to and help their landlords keep properties filled and in good condition. We'll be doing so as Caretaker.

Caretaker (noun). “A person employed to look after a public building or a house in the owner's absence.”

The new name captures both our mission and our product offering. We’re on a mission to make it increasingly easier own rental property, so that more people can do it and, ultimately, there are more great landlords in the world. A tiny fraction of the world’s rental housing is owned and run by large corporations. Our goal is to keep it that way by empowering anyone to grow and maintain a successful portfolio of rental properties. Our platform consists of a suite of products that do pretty much everything an extraordinary property caretaker would do: open the door for trusted parties, coordinate maintenance issues, keep track of rent and security deposits and allow tenants to fruitfully complain. When you hear the word Caretaker, you might think of someone letting in the HVAC guy or checking the mousetraps. Perfect.

If you came here today because you've used us once before to sublet your place, welcome back! If you just discovered us, and you need out of your lease, we're here for you! We'll continue to do everything we can to make your life easier. If you came here because managing your portfolio of rentals on your own is starting to drive you crazy, also welcome! Same goes for you.

As always, we're here to answer questions. Send a note to [email protected] We'd love to hear from you.