AI-driven platform recoups costs from occupant-caused damages, encourages better long-term resident behavior, and reduces property team workloads

FacilGo, the ultimate AI-driven maintenance and procurement platform, gives property owners and managers a better way to recover property damage costs as trends show renters staying longer in their homes than ever before. The FacilGo platform makes immediately charging for resident-caused property damage easy and fair, creating instant NOI and avoiding inefficient attempts to recoup losses all at once after residents have moved out years later.

According to a Talker Research study of 2,000 renters, residents today are more likely than ever to treat rental properties as permanent homes. The average American renter stays in the same home for four years - with 28% staying more than seven years - compared to 32.2% of renters living in one home for less than a year a decade ago. 41% of baby boomers and 28% of Generation Xers lead this trend thanks to anxiety about moving (22%) and searching rental listings as a form of doomscrolling (41%). No matter the cause, longer stays means more chances for property damage, longer periods between incidents and move-outs, and less chance of a security deposit covering all damages.

“People are staying in rented homes longer than ever before, sometimes over ten years, which means a long time can pass between a renter-caused incident and their departure,” says FacilGo founder and CEO Ken Murai. “With residents staying longer in their homes, incidents have a higher chance of being forgotten altogether, or of total damages well exceeding the value of a traditional security deposit, which was designed for a one- or two-year lease, not a decade-long residency. Longer stays mean more wear-and-tear and more opportunities for damage, and property owners need an approach that suits shifting trends. FacilGo’s AI-powered Resident Chargeback maximizes a property owner’s chance to be compensated for damages, no matter how long a renter stays.”

Renting has changed, and approaches to maintenance and chargebacks must change as well. If people are staying in their rented homes longer than ever, property owners need to ensure those renters pay their fair share for any damages or contractor visits not covered under their lease immediately, rather than when they move out. FacilGo offers automated in-residence chargebacks that log, confirm, and efficiently bill residents for damages and services outside the terms of their lease. This timely billing saves property teams the stress and labor of tracking and compiling every instance of property damage and then trying to recoup that amount after a long-term resident departs. In-residence chargebacks also encourage responsible occupancy, making longer stays more equitable and affordable for property owners and occupants.

About FacilGo

FacilGo is an all-inclusive AI-enhanced platform for residential rental property turnover, renovation, maintenance, and call centers. The FacilGo platform streamlines work orders, procurement, services, bidding, project management, and invoicing into a seamless process within a single database to maximize NOI and ROI. FacilGo solutions have seen amazing results at properties across North America, and are trusted by property companies of all sizes.

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