In this article, discover how the PIF platform is beneficial for building contractors. The existing property market has become highly risky, even as it is dealing with poor quality of listings, improper management, and transparency issues. However, PIF (Property Info File) intends to change the scenario for landlords, tenants, property managers, and even the building contractors.
BUILDING CONTRACTORS – EVERYTHING YOU NEED TO KNOW ABOUT THE PIF PLATFORM
As far as the PIF or the Property Info File platform (is concerned, it is based on the hybrid blockchain that plans to transform, improve as well as streamline the entire process of property management permanently. Through the incorporation of blockchain into the platform, as well as the processes, PIF aims to establish a unique ecosystem which is quick and accurate, eventually making the homes, lives as well as the work environment of the landlords, tenants, as well as property managers much transparent, easy and simple. It plans to help all end users so that they can choose better, using their money and time (https://www.platinumcryptoacademy.com/crypto-trading-education/uk-housing-crisis-affecting-landlords-in-2020-the-pif-solution/). Thus, the hybrid blockchain system of PIF will not only revolutionize the manner in which the property managers, landlords, and building contractors manage their workflow but also help them to improve their functioning and systems. With the PIF platform, reporting any deformities, flaws, fixes, and support issues to the property administrator or proprietor, are simple and hassle-free. It also empowers proprietors or property supervisors to advance any work-related request using agreements to the PIF’s checked, screened as well as confirmed dealers (situated close to the building/property), and fix the problem.
With the growth & advancement in technology, every real estate agent is left with little choice but to shift to the web or the internet. While the leading real estate listings service providers offer a host of services, such as housing searches, property database, 3D home tour, VR tour, information related to purchase and tax history, etc, they still require verification as well as conformation via traditional processes, to ensure that every detail about the listed property is accurate. Usually, this verification process is carried out offline, but with the PIF platform, all this can be managed online. The Property Info File platform helps to manage the rented property, as well as retains and also updates a track and a trace of all the essential items, and services among other things. Put simply, the PIF platform offers an interactive and unique ecosystem to meet your property management needs.
BLOCKCHAIN AND PIF
As far as Property Info File is concerned, the company believes that the blockchain system, when put together with the concept of smart contractors, is the key to resolving the long-term issues of the property rental industry. Given that blockchain is inherently a highly trusted system, it is ideal for the real estate industry, where transparency is a key issue, especially because people invest a huge amount of funds in their properties. One of the major benefits of blockchain technology is the distributed ledger system, which is capable of accommodating several records over a while. This keeps it tamperproof and also ensures that these records are easy to verify while maintaining user anonymity. The blockchain technology offers a system for securing as well as transferring funds, and supporting the highly complicated multi-party agreements, which are the driving force behind these fund transfers, and are done through smart contracts. Given that all the data remains intact in a distributed immutable data store implies that the users don’t have to worry about their data being tampered with, whereas the payment flows could be Rent Payments, Application Process, Rewards, Global Expansion, Convenience, Security, Rental, Agreements, Utility bills, Review & Rating service provider, secure management of identity, thus improving the entire rental experience.
HOW PIF WILL HELP BUILDING CONTRACTORS?
When it comes to the Property Info File Blockchain platform, it has the power to revolutionize the entire real estate industry, beginning with how one gets paid for offering property maintenance services. The rental segment offers a regular and excellent source of earning for building contractors, as they get to offer both small and regular maintenance work, and large as well as more profitable work. While the private rental segment does offer this opportunity to some extent, it is usually short-lived. Typically, the lettings company will use your services consistently for a few years, give you an ample amount of work, and keep you busier than what may have been. As a result, you may assume that you are on the winning side, but over time and gradually your invoice payments will get delayed, i.e. from a period of 30 days, it may stretch to 60 or even 90 days. This means that you will be spending much of your time listening to excuses like the tenants haven’t been paying on time, or are paying late or that the landlord went overseas, and is difficult to connect to, and a host of other excuses. So, instead of getting paid on time, your pricing gets pushed down further, whereas the administration fee that these companies take for offering you the job keeps increasing. On the other hand, the credit that you extend to them keeps getting larger with every passing day, and they eventually drop you while still having to pay your money. As a result, your chances of recovering that amount, even when you approach a court is from less to none because what they did not tell you from the beginning is that the contract was not with their company but the landlord. Thus, as an intermediary and a 3rd party, they are not liable to pay you any amount that the landlord had to pay. Besides, they will also not hand over any of the personal information about the landlord to you so that you could chase them for your money, owing to the data prevention rules & regulations that stop them from sharing any such information. This means the only option left with you would be to drag the agent through expensive and lengthy court action for disclosing the details, and by that time you will already have ruined yourself financially. This will eventually leave you with no other option but to completely write off and vow not to work with the lettings company or even the landlords again. This is a common occurrence in the real estate space, and there’s nothing that one can do to avoid it. During this entire process, these properties are required to be duly maintained as per the law, and the people who suffer are the tradesmen and the tenant. Even though this sector offers a high potential for earning, these corrupt practices have earned a bad reputation for the entire property lettings segment, especially in the eyes of the building contractors, and they continue to struggle to find good tradesmen. This is where the PIF platform can work wonders for the building contractors. For minor jobs like changing the tap, toilet unblocking, fuse board checking, etc., 1-2 hour call out work payments shall be taken in advance and upfront and kept in the PIF independent escrow account. This implies that once the job is done, and building contractors provide photographic evidence of the work and also sign off the job after the landlord’s satisfaction, the payment shall be instantly made into the account of the building contractor. In case of any dispute or if something does not go as planned, an independent dispute and arbitration service will be provided. Thus work is provided through the Property Info File app as per the postal code as well as proximity, which means building contractors can reduce their time required to travel down and work closer to their homes. Besides, appointments with tenants are arranged at the click of a simple button, and all the invoicing as well as quoting is carried out quickly and easily through the app. Also, all the completed photographic and signed off evidence is carried out smoothly and quickly, whereas all the purchasing of materials can also be done through the PIF app at a special discount. Most importantly, all your invoices will get paid within 24 hours through the app. PIF can also take care of the company accounts of the building contractors, and ensure that they are best positioned for customer service, tax returns, advertising, sales, etc. To sum up, all this can be done in a 100% secure and safe manner through the PIF platform and blockchain system.
To sum up, it won’t be incorrect to say that the PIF app and platform (http://www.propertyinfofile.com/) is ideal for resolving the many problems being faced by building contractors today. The PIF system has been innovatively designed to ensure uninterrupted and effective communication among the parties who are involved in the property leasing and rental ecosystem. Besides, the landlords and the tenants will have direct access to qualified and reputed building contractors, as well as tradesmen. Put simply, the PIF platform will ensure complete transparency, compliance as well as traceability, thus ensuring that all the parties involved in the ecosystem get an honest and fair deal.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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