Through pre-seed and seed funding rounds, New Orleans-based startup RentCheck has raised a total of $3.6 million to date.
RentCheck is a rental inspection app designed so tenants can take time-stamped, uneditable photos of properties, which can help them receive security deposits quickly and without dispute upon move out. The app also saves property managers time and resources, and allows for the unit conditions to be maintained in a streamlined manner.
The funding will help the startup expand across the country to more property managers and tenants.
“Post-COVID, digital enablement is a top-three goal for most multi-family executives,” said Vickie Rodgers, Vice President of Cox Communities at Cox Enterprises, Inc., a strategic investor in RentCheck. “It is critical for driving operational efficiencies and improving the resident journey. RentCheck supports both of those top objectives for owners and residents.”
RentCheck’s co-founder and CEO Marco Nelson believes that transparency will be the key to renting in the future.
“Property managers and landlords will need to treat their relationships with tenants as a partnership, something that, in the past, hasn’t been the case. RentCheck is bringing tenants, property owners, and managers together on a single platform that’s built on trust, and it’s proving to be a better, smoother, and more efficient experience,” said Nelson.
Nelson and his co-founder Lydia Winkler were business students at Tulane University when they teamed up to launch RentCheck. He has years of experience in property management and she had an issue with a former landlord who did not return her security deposit upon move out. It was the perfect match to shake up the tenant-landlord dynamic in the property rental market.