Meet the venture-backed startup that helps landlords evict tenants

Landlords started 3.4 million evictions nationwide in 2014

New York /
Feb.February 23, 2016 02:54 PM

Eviction — just a click away.

Smelling blood in the water, venture-based startups like Click Notices are collecting tidy fees to assist landlords in ousting millions of tenants nationwide.

Click Notices’ software allows landlords to set parameters for when to begin evictions, then notifies employees or subcontractors that it’s time to put boot to tenant ass.

The Annapolis, Md.-based firm charges landlords a flat fee depending on local court costs, Bloomberg reported.

Prices for these services vary from city to city. Click’s competitor, Nationwide Eviction, a Charlotte, N.C.-based firm, charges $131 for an eviction in Richmond, Va. but $825 in New York City.

The average eviction — between court costs, maintenance fees and lost rent — can cost a landlord as much as $1,700, according to TransUnion.

Toyin Bello, a former software executive, founded Click Notices in 2010 after growing tired of attempting to collect past-due rent on his investment properties. Now in eight states, the firm is looking to expand nationwide.

Click Notices already counts WinnResidential, the nation’s largest affordable housing landlord, as one client. In a two-day span in December of 2014, WinnResidential used Click Notices to begin evictions against more than 70 tenants at a single building in Maryland, Bloomberg reported.

The firm’s CEO, Eric Sigler, would not tell Bloomberg how much Click raised in its January Series A funding round — led by Sopris Capital — or how much revenue it earns, but said he believes it can be a “billion-dollar market.”

Last year, The Real Deal tallied the most litigious landlords in Manhattan. [Bloomberg]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
Judge David Zuckerman (iStock)

Judge tosses landlords’ challenge to New York eviction limits

Judge tosses landlords’ challenge to New York eviction limits
(iStock)

With eviction moratorium set to expire, landlord-backed group raised more funds to help renters

With eviction moratorium set to expire, landlord-backed group raised more funds to help renters
National Apartment Association CEO Bob Pinnegar and Health and Human Services secretary Alex Azar (NAA; Getty)

Group representing 85K landlords joins suit to stop CDC eviction ban

Group representing 85K landlords joins suit to stop CDC eviction ban
Governor Andrew Cuomo (Getty; iStock)

Commercial evictions, foreclosures halted through October

Commercial evictions, foreclosures halted through October
President Donald Trump (Getty, iStock)

Evictions banned through December for most US tenants

Evictions banned through December for most US tenants
Governor Andrew Cuomo (iStock; Getty)

Rent woes had tenant hotline ringing off hook

Rent woes had tenant hotline ringing off hook
Commercial evictions are on ice — for now

Commercial evictions get green light, but only in name

Commercial evictions get green light, but only in name
Governor Andrew Cuomo (iStock; Cuomo by Stefani Reynolds/Getty Images)

End of eviction ban to unleash 14,000 warrants in NY

End of eviction ban to unleash 14,000 warrants in NY
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...