IFM Rebrands to Stellar to Revolutionize the Maintenance Experience for 110M+ Renters in the United States
IFM Restoration, a venture-backed technology-driven marketplace solving maintenance at scale for the single family rental (SFR) market, today announced a rebrand to Stellar to further its mission to bring a stellar maintenance experience to residents, contractors, owners, and property managers.
Maintenance matters to the rapidly growing SFR market
As one of the fastest growing asset classes, institutions are expected to own approximately 7.6M1 single family rental homes occupied by over 20M2 residents by 2030—a 10x increase from today. Multiple factors are driving this tremendous growth, including the aging of millennials into the SFR cohort, the suburban resurgence, and financial headwinds to homeownership.
Large institutional single-family owners employ property managers to ensure that their assets are maintained, and handled timely and efficiently with ease, all while managing the resident’s experience. The business of trade contractors is the backbone of those in property management, and while the industry employs millions of trade contractors, maintenance can often become a major bottleneck to growth and yield maximization for property owners and operators.
Managing across the property lifecycle, from single-family institutional owners and property managers, to employing contractors and maintaining the resident experience is complex. That’s why it is imperative that maintenance be hassle-free and done right for all of these stakeholders.
Stellar’s innovative venture-backed technology and marketplace is revolutionizing single-family home maintenance for residents, contractors, institutional owners and property managers. In addition, Stellar’s new brand encapsulates both the cosmic scale of this opportunity and its commitment to deliver a superior experience.
“We are relentless about Stellar’s mission to make the maintenance experience hassle-free and done right,” says Dustin Marx, founder and CEO of Stellar. “We started this revolution six years ago because we understood and wanted to solve the challenges that residents, property managers and contractors collectively face. We experienced the pain of each party first hand, and knew software could change everything.”
And it did.
“We know there’s a better way to deliver maintenance at scale. And there is…a Stellar way.”
Stellar comes full circle to delight residents and propel property management
“Stellar has successfully helped resolve issues for thousands of our residents and has simplified the daily work of our property management team,” says Jim Barker, General Manager at Streetlane Homes, a Roofstock Company.
“Tricon has had the privilege of using Stellar in multiple aspects in our Single Family Rentals. We have found their techs are great with our residents and tend to get 5 star reviews due to the phenomenal customer service that is provided by their employees.” says Tiffany Salyer, Operations Manager-Occupied, Tricon Residential. “We have utilized their services in multiple cities and continue to look forward to not only maintaining our great relationship with them, but continuing to grow with them.”
In Stellar’s managed marketplace, property managers connect their residents to skilled contractors through an intuitive technology interface that is fast and reliable. The experience delights residents and enables property managers to develop reputations of providing best-in-class maintenance at scale. It’s a win, win for all parties involved.
Residents are elated and leave raving reviews, like this one from Stellar’s library of 1,600+ Google reviews: “We had tried 3 plumbers before Stellar. The job was not easy but Vernon got it done. He was very professional and knowledgeable about his work. Now I can enjoy my home and not worry about any plumbing issues.”
Property managers and their residents aren’t the only ones who benefit.
Stellar’s tradespeople earn more with consistent work and achieve efficiencies through a no-bid approval process that enables most jobs to be done during the same visit as the estimate. Coupled with fast payments, a managed back office admin, and a seamless scheduling experience, Stellar supports and empowers contractors to grow their businesses while focusing on their craft.
“I love setting my own availability and receiving payments quickly!” says contractor Troy Andrews.
“I always feel well respected. I feel like they care about my jobs,” says contractor Marcus Ferril.
Above & Beyond: Looking to the future of SFR maintenance
Stellar will continue building world-class software to power one of the SFR market’s top managed maintenance marketplaces, with a new name that aligns with Stellar’s expectations to deliver a best-in-class, seamless experience.
“We know how much maintenance matters to all the SFR stakeholders,” says Marx, “As we look to the future, we’ll continue innovating toward our mission of making maintenance hassle-free and done right, and creating a 5 star stellar experience for everyone involved.”
- 7.6M institutionally owned SFRs in 2030 forecasted by the Yardi Matrix Report
- Based on an average of 2.9 people per SFR in 2019 according to the National Multifamily Housing Council, multiplied by the 7.6M forecasted SFRs in 2030 by Yardi.