TOP ISSUES A TENANT FACES — HOW PIF CAN HELP?
By: Platinum Crypto Academy
Tags: Wallet, Property, Blockchain, Ecosystem, Pif

A look at the existing property market reveals that tenants are facing numerous issues. For instance, many landlords today refuse to carry out the necessary repairs in a timely and efficient manner. Apart from this, quite a few of them demand the tenant to make an initial deposit. This further increases insecurity among tenants. Also, the initial six months of tenancy keeps them protected, but after that, they can get evicted for virtually no reason, and that too within an eight weeks notice period. It is here that PIF or Property Info File comes into the picture!

The platform intends to transform the rental property market/ecosystem by providing the tenant, landlord, property manager, and building contractors with a blockchain-based system that is efficient, transparent, and fair.

CONTINUE READING TO FIND OUT HOW PIF BENEFITS THE TENANTS.

MORE ABOUT THE PIF PLATFORM

Based on a hybrid blockchain system, the PIF platform can transform, enhance, and streamline the property management process permanently. By incorporating the blockchain within the PIF platform and procedures, PIF plans to set up an innovation ecosystem that is both accurate and quick, thus making the lives, homes, and the working environments of the tenants, landlords, and property managers both simple and transparent. In other words, it intends to assist all the end-users in a manner that they choose better by using their time and money.

The system is designed to help the tenants, landlords, property managers as well as building contractors to manage and improve their functioning. Thus, with the Property Info File platform, reporting the flaws, fixes, as well as support matters to the proprietor or property manager, becomes quick and hassle-free. With PIF, reporting the faults, defects, repairs, and even maintenance related problems are simple and convenient. On the other hand, property managers or landlords can forward any work-related order with the help of smart contracts to the checked, vetted as well as verified tradesmen.

For example, when a toilet isn’t flushing and requires a fresh flush system installed. The plumber who is close by can be picked on a pre-decided hourly fee and an invoice will be raised instantly as well as paid in advance and kept in the escrow account until the job is completed. Apart from this, the work must be signed off along with photographic proof and added to the PIF blockchain, and payment is released only thereafter.

With the help of the PIF blockchain as well as the integration of smart contracts, it is easy to update or renew the rental contracts. In addition to this, it is also easily set up and collect automatic reminders, rental payments, statements as well as keep records.

Apart from this, important safety certificates like electric and gas-related insurance records, as well as personal information like id verification of landlords and tenants can be easily updated through the system. Thus, PIF safely maintains, records as well as manages every single information needed for managing rental properties.

Every action taken on the PIF platform gets recorded on the blockchain and prompts physical action like photographic evidence for the completion of the action. Also, the task manager sends necessary reminders to all the parties involved and prompts them to respond until the necessary, evidence, and complete information is updated in the PIF system.

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