Delinquency is structural. Eviction is inevitable.
42.5M
Renter Households
Total US renter households (Census 2023)
22.4M
Cost-Burdened
Paying more than 30% of income on housing (Harvard JCHS)
$512B
Annual Rent
Total annual rent payments across the US (Zillow)
7.6M
At Risk Annually
Renters threatened with eviction every year (Princeton Eviction Lab)
When 53% of renters pay more than they can afford, the question is not if delinquency happens - it is when and how much. This market is recession-proof because it is structurally inevitable.
Total Addressable Market
A $7B market. 99% undigitised.
The largest eviction-specific software company does $13M in revenue. Founded in 1982. Runs on SmartSheet. The market leader has captured less than 1% of addressable spend.
Process Overview
8 steps. 10 stakeholders. 6–8 months. One broken process.
Standard Timeline
6 to 8 months end-to-end with traditional process, paper filings, and manual coordination across 10 actor types.
AI-Enabled Timeline
45 to 60 days with AI-powered case management and expedited service orchestration - a 5× to 8× compression.
6 to 8 months - 15-25% error rate (self-filed) - Phone calls and paper
AI-Enabled Service
$250 - $500 per case
45 to 60 days - Under 3% error rate - AI-powered case management
20×
Cost Compression
AI collapses service delivery cost by 5× to 20×
3.6M
Cases Per Year
Annual eviction filings across the US
$18M
1% Market Share
Revenue at $500/case - just 1% penetration of annual filings
Competitive Landscape
A duopoly running on 40-year-old technology.
Tier 0 - Gravity Layer
Yardi, RealPage, MRI, AppFolio - $100M to $700M+ revenue each. They own the rent ledger. Eviction tools must integrate with them.
Tier 1 - AI Platforms Moving Down
One company valued at $2.2B (a16z + Bessemer) already has a delinquency product and is expanding toward eviction.
Tier 2 - Incumbent Duopoly
Top two eviction vendors owned by the same 40-year-old parent. Combined revenue: $60M-110M+. Stack: Salesforce + SmartSheet. No AI.
Tier 3 - Niche Players
10+ small point solutions (filing only, notice only, or case management only). None combine AI + execution + platform.
The gap: no AI-native player with end-to-end execution capability exists. The market is controlled by a single parent company whose technology is SmartSheet.
Business Model
Seven revenue streams from one customer relationship.
01
Eviction Services
$250-500 per case, filing through set-out
02
Expedited Service
Premium pricing for 45-day resolution vs 6-month standard
03
Property Preservation
Lock change, trash removal, unit prep
04
Collections
Percentage of recovered unpaid rent
05
Eviction Insurance
$60/month tenant premium - $5,000 payout per claim - embedded financial product with predictable loss ratios
06
SaaS Licensing
Monthly fee or percentage of attorney/service provider profits
07
Distressed Property Acquisition
When landlords want out, the platform connects them to buyers
This is not a single-product SaaS company. It is a vertically integrated services platform with recurring, per-transaction, insurance, and asset acquisition revenue.
Why Now
Vertical AI turns a $50M software market into a $7B services market.
AI Replaces Attorneys for Routine Filings
Document generation, jurisdiction-specific compliance, deadline tracking. What costs $2,500 with a lawyer costs $50 with AI plus attorney sign-off.
AI Orchestrates the Physical Network
Dispatch process servers, coordinate police schedules, route moving crews, track compliance in real time across 3,000+ jurisdictions.
AI Compounds Data into a Moat
Every case generates jurisdiction rules, vendor performance data, outcome predictions, and tenant risk profiles. The more cases, the smarter the system.
$16.7B
PropTech VC (2025)
Up 68% year-over-year
$2.2B
Adjacent Valuation
AI property management co. backed by a16z + Bessemer - validates premium multiples
3,000+
Jurisdictions
Regulatory complexity is not a bug - it is the moat
Structure
We build. They operate. We own majority.
Studio Entity - 70%
AI engineering: document generation, case orchestration, compliance automation
Product design and architecture
Data infrastructure: jurisdiction rules engine, outcome analytics
Capital for tech build
Operator Partner - 30%
20 years in eviction services with an existing revenue-generating offline business
Relationships with courts, attorneys, law enforcement, and service providers
Domain expertise across every step of the eviction lifecycle
First market: The #1 eviction market in the US - 144,000+ filings per year, more than New York City. The operator has the domain and the customers. We bring the technology. The platform is the durable asset.
The Ask
Seed the tech build. Own the platform.
What We Need
$1M - $2.5M to build the AI-native platform (12-month runway)