The property manager you don't have to manage

Alder manages rental homes in the San Francisco Bay Area. For major repairs, we get three qualified bids and bring you our recommendation. Your owner account shows charges, maintenance requests, leasing activity, and other events as they happen. Each month, we send you a written summary.

Your homes

Live

3999 Lombard Street #5, San Francisco

Applications are open. 4 received so far.

Days empty: 11 days; Still counting.
Make-ready cost: $1,690; Cost so far. More work may still be billed.
New lease: Not leased yet; 4 applications received.

Applications · From Jun 94 of 6

Activity and recordsSelect a row to open it

The job

Interior paint

Paid · $1,240

Received bids

Vendor	Amount	Can start	Quote file
Painter A	$1,240	Jun 3	View quote
Painter B	$1,980	Jun 2	View quote
Painter C	$2,650	Jun 9	View quote

The owner account during a unit turnover, with example data.

Backed by investors and founders behind

OpenAI
Cognition
ElevenLabs
Zillow
Flyhomes

Know what is happening at your property. See the activity at your home as it happens, then receive a concise summary each month.

Three bids for major repairs
For planned, non-emergency work above the limit we set with you, we request three qualified bids. We send you the options, explain our recommendation, and get your approval before work starts.
- Showing completed2h
- Application received5h
- Move-out cleaning · Paid1d
See what is happening, as it happens
Your owner account gives you a live view of charges, maintenance requests, leasing activity, and other events at your home. You can open the underlying records at any time.
A monthly update on your building
Along with the financial statements, you receive a concise written summary of the month's activity. It connects the details and identifies anything that needs your attention.

We are a full-service manager. That covers leasing and tenant placement, screening, rent collection and deposits, maintenance and vendor coordination, leases, renewals, notices, monthly statements, and year-end reporting.

Results from properties we operate. These examples show how competitive bidding and a faster unit turnover affected actual costs and income.

lower cost on two capital jobs, from competitive bids: $63,741
less vacancy on one turnover than under the prior manager: 45 days
added NOI on that turnover, at a Bay Area rent: $5,930

Bidding out two jobs saved $63,741

Four painting bids and three flooring bids showed where this capital project saved money.

Before

After

The entry hallway before and after the common-area renovation.

Painting: $55,080 lower
Flooring: $8,661 lower

See the maintenance numbers

Painting

4 complete bids: $14,900 selected vs. $69,980 high bid

$55,080 lower (79%)

Company A, selected$14,900
Company B$30,230
Company C$35,730
Company D$69,980

Flooring

3 bids: $19,339 selected vs. $28,000 high bid

$8,661 lower (31%)

Company A, selected$19,339
Company B$23,920
Company C$28,000

We added $5,930 in NOI on a unit turnover

We made the unit ready faster and signed a lease faster than the previous manager.

Before

After

The same room before and after the turnover.

Vacancy: 45 fewer days
Turn cost: $1,805 less

Bay Area estimate at $2,750 per month. Based on our actual turn in Washington, D.C.

See the turnover numbers

Days vacant: 15 days60 days with the prior manager
Turnover cost: $2,195$4,000 with the prior manager
Additional NOI: +$3,362actual, at $1,038 per month

Start with the statement you already have

We will review the charges and reporting before asking you to consider switching managers.

Request a statement review

The people behind Alder

Alder is founder-led. You'll work with one of the founders directly.

Wilson Chockley

Co-founder

Wil runs his family's real estate portfolio, which means years of reading the monthly statement and living with whoever was managing the properties. Before that he spent years building and backing proptech companies at 75 & Sunny, the venture firm and startup studio he founded with Spencer Rascoff, co-founder and former CEO of Zillow.

Michael Li

Co-founder

DRE #02253461

Michael spent his career building business software in big tech, most recently AI that takes the manual work out of HR systems. He's also president of his HOA, so his weekends already go to chasing vendors and answering owners.

Spencer Rascoff

Executive Advisor

Spencer is the current CEO of Match Group. He co-founded Zillow and led it as CEO for a decade. He also founded 75 & Sunny, where he and Wil have launched and backed companies across real estate and technology.

What owners ask us

Where do you manage?

The San Francisco Bay Area. We live here, and we stay close enough to visit each property ourselves. Own property somewhere else? Tell us where, and we'll let you know if we open there.

Are you taking on new properties?

Yes, a few each quarter. We keep the number small so a founder can stay on every account. Every engagement starts with a statement review.

Do you take on a single unit?

Yes. One house or one condo is fine. The written agreement defines the services we provide for each property.

I already have a manager. How hard is it to switch?

Most management agreements need written notice, and some have a term worth checking first. If you move, we coordinate the handover under the scope of your written agreement.

How does the statement review work?

Request a review and a founder will be in touch by email. Once we receive your statement, we will send a short written review within two business days. It will identify charges worth questioning, possible operating savings, and follow-up questions for your current manager. You do not have to book a call.

How will I know what is happening at my property?

Your owner account gives you a live view of charges, maintenance requests, leasing activity, and other events at your home. Each month, we also send a written summary that identifies anything needing your attention.

How do you manage the work?

We built our own property management software to keep work orders, approvals, invoices, and owner reporting in one place. Our founders come from tech and use the system themselves to manage each property.

Request a second opinion on your owner statement

Our statement reviews usually uncover opportunities to increase NOI by 3–4%. You receive a short written review identifying charges worth questioning, possible operating savings, and follow-up questions for your current manager. Once we receive your statement, a founder will email the review within two business days.

What we look at

Maintenance charges compared with local market rates
Utility costs and possible sources of waste
Vacancy, income, and changes from prior months
Missing details to ask your current manager about

What we have found before

Past reviews have uncovered unnecessary expenses, including above-market maintenance charges, avoidable electricity costs from fluorescent lighting, and high landline fees for legacy callbox systems.

We take on a small number of new properties each quarter, so a founder can stay on every account.