An Ohio software startup with a growing Cincinnati presence that caters to small and mid-sized property managers has landed a key endorsement from the largest landlord association in the country.
The American Apartment Owners Association, with over 125,000 members, recently named Innago its exclusive, recommended property management software. The recommendation comes after a months-long evaluation as the AAOA has received countless requests for tools to help landlords, according to a release. Many landlords, the association said, are still struggling with non-payment of rent, remote management and high vacancy rates due to the pandemic.
The AAOA said Innago will help landlords “move toward the future of property management by providing them with the digital tools to work remotely and improve operations.”
Innago allows landlords to create applications, screen tenants, organize financials and more. New features through Innago for AAOA landlords include online rent collection, digital lease signing, renter’s insurance, tenant communication and maintenance management, Innago said.
"Our mission is to make rental management simple, accessible and affordable,” Dave Spooner, Innago CEO, said in a release. “We do this with our property management tools, but we also do it through education and enrichment. AAOA is a leading voice in empowering landlords. To be named their exclusive, recommended property management software is a tremendous honor."
The potential market for Innago is big. There are 44 million rental units in the United States. About 85% are owned by landlords with 100 units or less, considered its sweet spot, the company said.
Spooner told me the recommendation helps Innago cut through the noise. The software space for property management is busy, and the AAOA carries a lot of weight among many landlords.
“We're excited about the national exposure, but also for what it will do for those on the fence and looking for a solution,” he said.
Innago, which launched in 2017, currently serves over 2,000 landlords and property managers and tens of thousands of tenants. It has about 30 employees and is looking to expand.
Its technical team is headquartered in Hudson, near Akron, while its sales, marketing and customer support team works out of Cincinnati. Locally, Innago was previously based at Union Hall in Over-the-Rhine, but shifted to remote work during the pandemic. Spooner said the team has grown, and the company is considering office options here in the near future.
Per Crunchbase, the company has raised $3.7 million, including a $2.5 million Series A in January 2020 led by Houston-based Allison Wood Ventures.
