Investing in property can definitely be a profitable and lucrative business endeavor. Collecting rent and allowing tenants to essentially pay the mortgage and build equity in your property can help you build sizeable wealth over time. But being a landlord isn’t without its challenges.
Many landlords have issues with tenants when it comes to collecting for damages incurred on the property. Often tenants vacate the premises leaving behind damage that inevitably needs to be paid for by the landlord. It can be tough for landlords to prove that the damage wasn’t there prior to the tenants moving in. So how can real estate investors hold tenants accountable for the damage they incurred on the property?
DamageiD — Helping Landlords Collect on Damage Costs
Revolutionary new property inspection software called DamageiD helps landlords with this very predicament. Rather than depending on the integrity of their tenants, property managers and landlords can use this program to ensure tenants are held accountable for damages incurred, and are reimbursed to cover the costs of repair.
Using the program, before-and-after photos are taken, and a virtual contract is signed by the tenant. When the tenants move out, new photos are taken and flagged for any damage. Landlords review these flagged cases, compare photos with ones taken prior to the tenants moving in, and communicate with tenants using the before and after photos. The image comparisons help landlords prove their case and collect for damages.
Rather than demanding costs for damage landlords believe was caused by tenants, they are instead able to show and prove the fact that such damage was in fact incurred by the tenants.
Tenants will also appreciate the fact that they won’t be blamed for damage that was present before they even moved in. It can save plenty of arguments!
By using DamageiD, landlords can reduce monetary losses associated with tenant-induced damage.