Lofty properties have been inspected by a professional 3rd party inspection company. You can find the inspection report in the Documents section of the property pages.
If there is an issue found in the inspection report, the seller will either make the repair before closing or provide a credit to the DAO LLC to make the repairs post-closing.
It there are any major issues, E.g., roof, HVAC, foundation, that the seller is not willing to fix or provide a credit for, the property will not be listed on the Lofty Marketplace.
Each property has a 5-8% Maintenance Reserve to handle any unexpected repairs.
If any portion of the Maintenance Reserve is used, it will be replenished using 10% of the monthly cash flow until it is full again.
If a large repair needs to be made that exceeds the Maintenance Reserve, then 100% of the rental income will be used to pay for the repairs.