Document management is important in the real estate industry. However, it is especially important to landlords. When you are managing your real estate investments on a continual basis, the right documentation management is key.
Signed lease copies
Having digital copies of signed leases is important for a number of reasons. It allows the landlord to look back on clauses to verify his responsibilities. But, it is just as important should a resident violate the lease agreement. Leases have explicit rules regarding tenant and landlord responsibility for damages. They also include the move in inspections which state any pre-existing damage which can not be lost should the landlord need those documents for court.
Having a back up of payment logs and check copies is important for both the tenant and the landlord. This protects both parties should there be a dispute. If you own multi-residential real estate it is especially important to keep an eye on payment logs. You don’t want a rent payment to be missed or over looked.
Justifying a 5 day is vital if you have to go to court. You need a paper trail and pictures to back up your case. If you don’t have the proof you don’t have a case. Your problematic tenant wins, potentially causing more damage to your home. Thus, decreasing your return on investment and costing you unnecessary fees. Having all the proof backed up is what you need for the judge to see the case in your favor.
Real estate document management is so important. Managing real estate requires a substantial amount of paperwork. Losing any of the documents could be costly to the owner. At Imagex we understand your needs for real estate document management. We digitally preserve all your important documents so your investment does not turn into a risk. Contact us today.