Management, Risk, & Compliance Professionals
INSURANCE PROFESSIONALS (RESIDENTIAL & COMMERCIAL)
SECURITY & RISK PROFESSIONALS
FAMILY OFFICES
FAMILY & ESTATE ATTORNEYS
CERTIFIED PUBLIC ACCOUNTANTS
Your clients and their families work hard to attain a high standard of living, and invest heavily in the properties and surroundings they enjoy. Protecting their most valuable investments is your #1 job.
When we document a property, we often surface contents or conditions that haven't been formally accounted for in their contractual agreements or coverage policies.
Premium properties almost always contain more of value than most insurance policies and leasing contracts are written to anticipate, and certainly more than current law, including recent additions to California’s Civil Code § 1950.5, anticipates, introducing a raft of brand-new risks to property owners.
We produce a secure, private document of all the things that make their house a home, giving you a window into what really matters to them, helping you identify gaps in need of closing. Each one is an opportunity to earn client trust and build lasting relationships in a crucial conversation only you can have.
We strive to remain neutral and conflict-free, which is why we don't do valuations or appraisals, we don’t do structural inspections, and we don't advise on coverage. We document thoroughly and stand behind our work when a transition or loss occurs.
It becomes a part of your due diligence, and a reflection of your careful attention to your clients’ risk profile that could make a big difference later on.
Compliance Matters
CCC § 1950.5(g) compliance has huge upside: while it can’t prevent a loss, it’s designed to help contain it.
CCC § 1950.5(g) ( https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?sectionNum=1950.5&lawCode=CIV ) requires landlords to supply specific evidence to tenants, including photographs and an itemized deduction statement, to validate security-deposit deductions within a 21-day window:
1. Landlords must photograph the property before or at the start of the tenancy.
2. Landlords must photograph again after vacating + prior to any repair/cleaning work.
3. Landlords must photograph the final outcome after repairs/cleaning are completed.
The law matters because the consequences of non-compliance are severe, resulting in some painful financial math:
1. Property owners lose the right to keep any part of the security deposit, meaning they’ll have to return it all first, even if actual damage existed, then try to collect it from the tenant later. Um…good luck with that.
2. Should the tenant take the property owner to Small Claims Court and prove the money was withheld in "bad faith," the judge can order landlords to pay tenants the original deposit plus up to twice the amount of the deposit in punitive damages.
3. Third, given the exceptional design and finishing standards of high-value homes, any damages incurred can easily meet or exceed the one-month (1950.5 (c) (1) or two-months’ (1950.5 (c) (5) (a) security deposit standards, damages owners can’t recoup without extensive documentation.
Good documentation is now a complex, but necessary, part of doing business.
The law puts the burden on landlords to provide it, yet the law includes no standards or guidelines to help them understand how best to comply. It just states “photographs.”
You know this task is a lot bigger than the iPhone in your pocket.
You or your leasing agent know lots of real estate photographers that specialize in how to hype up your property. They don’t specialize in capturing the details that would hold up to challenge or scrutiny, and they certainly don’t specialize in the kind of data security required to ensure you can’t be accused of altering evidence, or worse.
We wouldn’t call this forensic photography, but we’d definitely call it evidentiary. You’ve got a couple of options here.
You can do it yourself – use our handy guide.
We’re also able to do this work for you, delivering you a complete record of your property that could one day be evidence, well before you need it, and before any damages soar well into the six figures you poured into your property in the first place.