The company that wants to make sure you get your security deposit back

RentCheck just raised $2.6m. The app allows tenants and property managers to conduct remote, in-app move-out inspections.

There’s an estimated $45B sitting around in security deposits, but getting them back can be complicated.

The company that wants to make sure you get your security deposit back

Enter RentCheck, the New Orleans-based startup that streamlines property inspections and just scored $2.6m in seed money, per TechCrunch.

RentCheck facilitates remote move-out inspections in-app…

… a feature that led to 1000% growth in RentCheck’s property stock over the course of the pandemic.

Here’s how it works:

  • Property management companies pay a subscription fee, starting at $5/mo. for 1-20 units
  • Tenants or employees use the app to complete guided inspections
  • Photos are time-stamped and stored in-app
  • When finished, both parties sign off

Why it’s useful

A survey from rental app Roost found that over half of renters didn’t take move-in pics and weren’t sure about refund terms.

One property manager told Roost that ~40% of renters end up challenging their refunds.

An app like RentCheck creates transparency on both ends in a quick, automated way.

See also: Other companies, like startup Rhino, are offering security deposit “insurance” where renters pay a small monthly fee instead of a big deposit.

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