Thinking of getting into the For Rent by Owner market? Renting out your house or apartment privately can provide you with sizable extra income. And thanks to the digital age we live in, managing rental properties privately is easier today than ever before.
Social media and certain websites help homeowners who want to rent a property privately find the perfect tenant. And there’s MoveIn.Space (www.Movein.Space), a site that provides a revolutionary way for landlords and tenants to avoid future conflict. With a mission to “create peace between landlords and tenants by adding visibility to a crucial, but often overlooked and unorganized process”, MoveIn.Space comes with a walkthrough feature that turns their goal in reality.
Question: What’s the Walkthrough feature and how will it help me in my For Rent by Owner venture?
After you get past the crucial step of finding the right tenant (if you haven’t found yours yet, you might want to check out our blog post How to Select Tenants to Rent my Property), the next step is making sure you document the property’s condition.
MoveIn.Space’s founder Josh Rosenthal and his team have observed that the majority of disputes between landlords and tenants revolves around the condition of the property before the tenant moved in.
“The hole in the wall was there before I moved in.” – Lying tenant #1
“Missing stove knob? It had always been missing in action.” – Lying tenant #2
“You created the bullet holes, not me.” – Psychopath tenant
Thanks to Movein.Space/walkthrough, both tenants and landlords can conduct property inspections smoothly. The walkthrough organizes the steps to putting together a property report, this way both parties can agree on the property’s condition before the move-in date.
A property report is generated automatically based on data you provide, and this can be accessed online by both landlord and tenant.
According to Josh, “Using MoveIn.Space/walkthrough for move-in and -out creates usage report that the tenant can show to subsequent landlords.”
Question: I want to be a private landlord but technology isn’t my field. Do I have to be tech-savvy (i.e. a nerd) to use Movein.Space/walkthrough?
Not at all. Anyone who knows how to do simple online tasks like upload a photo and browse news websites can use Movein.space/walkthough with ease.
The steps to creating the property report are simple:
- Head over to MoveIn.Space/walkthrough using your tablet or smartphone.
- Enter details about the house, housemates (if any), and contact information.
- Snap pictures of the property, as well as items included (typically appliances and furniture).
- Add descriptions of the items, such as model numbers and condition (new? missing objects? existing damages?)
- Submit the report. You and your tenant will be able to access this anytime online. You’ll both also receive a reminder when it’s time to conduct a move-out inspection.
With Movein.Space/walkthrough, you don’t have to rely on paper documents that can get lost and are one-sided. Your report (hastily written on a notebook) might claim one thing, while your tenant will insist on another thing, using their own report scribbled on God-knows-where. With Movein.Space, you can both agree on the same property report right from the very beginning, making your For Rent by Owner venture a breeze.
And the pictures you upload in the report will be very difficult to dispute. No, there wasn’t a hole in the wall prior to the move-in date. And, no, the couch didn’t come charred like overcooked chicken when you put up your home for rent privately.
And how much will this cost? Zero! There will be a premium subscription at a later date but as of today, MoveIn.Space/walkthrough is free to use.
Ready to create a property report with your tenant? Go visit MoveIn.Space.
Like this post? Check out our other blog posts that are sure to help anyone who wants to sell or let their home privately:
- 5 mistakes private landlords should avoid
- 5 advantages of letting an unfurnished For Rent by Owner property
- How to write property description that will help sell/let your house quickly
- 5 advantages of online real estage agents
- 5 signs your home is way overpriced