From searching for a property to signing and managing rent contracts.
Find a property for rent!
Rentty is a decentralized real estate rental platform, built on blockchain technology that enables property owners to rent out their properties to tenants in a secure and transparent way.
What are
the benefits?
and secure
With a decentralized platform, the rental process becomes more transparent as all transactions, agreements, photos and property information are recorded on a public ledger. Blockchain technology ensures the security and immutability of data on decentralized platforms. This transparency and greater security helps build trust between renters and property owners, reducing the potential for disputes or fraud.
accessibility
Decentralized platform provides more exposure for listings due to accessibility of rental properties from all around the world. Individuals seeking rental properties in foreign countries face numerous challenges, including unfamiliarity with local rental practices and different local currency. Platform provides cross-border rental transactions, transparent processes and verified property listings on the blockchain. This streamlines the rental experience for international renters.
efficient
By utilizing a real estate platform, tenants have the convenience of exploring property listings without the need to physically leave their comfort zones. Platform provides real-time information about the availability status of rental properties. Smart contracts automate various aspects of the rental process, such as managing security deposits, and facilitating rent payments. This automation reduces paperwork and minimizes the need for manual intervention.
intermediaries
By removing intermediaries such as real estate agents or property managers, decentralized platforms enable direct communication and interaction between renters and property owners. This direct interaction allows for faster response times, immediate clarification of queries, and prompt decision-making. It cuts down on costs and allows for more efficient rental processes.
Why to use it?
The traditional real estate rental market faces a lack of transparency and security, rental processes are lengthy and complex, global accessibility is usually limited, disputes and fraudulent activities are persistent issues. Decentralized real estate rental platform Rentty eliminates or reduces these issues, making renting more secure, accessible, and efficient, for both tenants and landlords.
Utilizing
Web3 tools
Immutable records of rental applications, rent contracts and transactions are securely stored on the blockchain. Main rental processes are executed using a platform: applying for rent, screening tenants, signing and terminating rent contracts, transferring and releasing rental deposit, paying rent, creating and solving disputes. Property NFTs are stored on Pinata. Soulbound Tokens, property metadata, photos, and terms and conditions document are stored on Pinata. Chainlink Data Feeds ar used for converting Avax/Eur.
Tenant Soulbound Tokens
To apply for a rental using the platform, tenants are required to mint a soulbound token, which cannot be transferred. Utilizing a soulbound token enhances the security of the rental agreement by providing a unique and non-fungible token that is tied exclusively to the tenant. Landlords have the ability to review the tenant rental history, enabling them to assess the creditworthiness of potential tenants and make well-informed decisions regarding rental arrangements. Tenants, on the other hand, can utilize their rental history as evidence of their reliability as renters, potentially allowing them to negotiate more favorable rental terms in the future.
Property NFTs
When creating a property, a landlord mints an NFT which contains the owner's name, property address, and country code. By minting an NFT for a property, an immutable record of ownership is created, and crucial information about the property is securely stored on a blockchain. This approach offers enhanced security and transparency. Furthermore, the blockchain also serves as a repository for the property rent history, rent contract payments and disputes.