![]() ![]() ![]() YOU UNDERSTAND THAT THIS IS A LEGALLY BINDING INSTRUMENT AND AGREE TO ABIDE BY ITS TERMS.ĭomuso provides the services described in this Section 1 (the “Services”) to renters and potential renters (“Renters”) of properties owned by landlords or property owners, and professionally managed by property management companies (“Property Managers”), with whom Domuso has entered into a merchant processing agreement (“Landlords”) which remains in effect with respect to such properties (“Partner Properties”). THESE TERMS REQUIRE THE BINDING ARBITRATION OF ANY AND ALL DISPUTES, AS STATED IN THE “RESOLUTION OF DISPUTES” SECTION (SECTION 17), WHICH YOU SHOULD READ IN ITS ENTIRETY. IF YOU DO NOT AGREE TO THESE TERMS, YOU MAY NOT USE THE SITE OR SERVICES. FURTHER, IF YOU ACCESS OR THE DOMUSO APPLICATION THAT YOU DOWNLOAD TO YOUR MOBILE DEVICE (collectively, the “Site” or “Platform”) AND/OR USE THE SERVICES OFFERED BY DOMUSO THROUGH THE PLATFORM, YOU ACCEPT AND AGREE TO BE LEGALLY BOUND BY THESE TERMS. YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTOOD THESE TERMS. (“Domuso” or “We” or “Our” or “Us”) AND ANY INDIVIDUAL, PERSON OR ENTITY WHO ACCESSES OR USES THE DOMUSO PLATFORM (AS DEFINED BELOW) (“You”). THESE TERMS CONSTITUTE A LEGALLY BINDING CONTRACT BETWEEN DOMUSO INC. It’s just a matter of giving him the flexibility if he doesn’t have the cash for one month.PLEASE READ CAREFULLY THE FOLLOWING TERMS OF SERVICE (these “Terms”). Q: How do you profile someone who loses their job?Ī: We already know the tenant, we have his payment history. Of the cohort of 20,000, 4,000 are using the credit portion to make payments. Q: Do you need renters and property owners ?Ī: We serve both, but the customers are the property owners who then make this available to their tenants.Ī: We have 4,000 payment users. Anywhere you go in the world, this is a heavy pain point. Q: How many users until you get to break-even?Ī: We think we could get to profitability at 100,000 renters. At the end of this year we should be profitable. By the end of the year, Domuso is hoping to have more than 500 multi-family properties signed up, which would yield more than $100 million in monthly payment processing volume.Ī: Building a repayment model takes time. Since first making the platform available in beta, Domuso has signed up more than 100 multi-family properties who are using its platform. It’s specifically looking to sign up those which control portfolios of 50-500 properties and could best utilize digital payment and financing options at scale. ![]() The company is going after property managers who oversee more than 50,000 multi-family units in the U.S. Starting with a single property, he began acquiring and renting out multi-unit residential properties and learned firsthand the challenges that property owners face in collecting rents from tenants. The financing option also comes in handy for new tenants who might not have the upfront cash to pay first month’s rent, last month’s rent and security deposit all at once.ĬEO Damian Langere founded the company after spending years investing in real estate. That means much faster payment processing for rent payments made on time.īut for times when tenants might fall behind, Domuso also provides installment loans that allow residents to pay over time and reduce the costs associated with eviction for both the tenant and property owner. Worse, with little flexibility in the terms of most leases, eviction notices can be sent as little as 10 days after failure to make rent.ĭomuso provides a modern digital platform for collecting rent payments, allowing property owners to accept credit and debit card payments, ACH and to scan paper checks. Many still collect paper checks and send mailed paper notices when rent isn’t paid on time. Meanwhile, property owners don’t have great tools for collecting rent payments or dealing with tenants who fall behind. When those life events occur, tenants can find themselves unable to pay rent, which is usually the single largest expense they have to grapple with. Up to 60 percent of Americans live paycheck-to-paycheck and lack savings to deal with a significant illness or a disruption in work. Presenting today as part of the Disrupt NY battlefield, Domuso provides more flexible rental terms for tenants, while helping property owners and managers to more efficiently collect rent. ![]() No one wants to fall behind on rent, and being evicted for lack of payment would be a catastrophic event for the 40 percent of Americans who rent their home. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |