Blockchain technology is making its way into a variety of industries being the catalyst for rebuilding some of our most archaic systems. Now, it’s turn for the system of renting apartments and homes to become more “blockchain-directed”.
In recent years, such popular online platforms as Apartments.com and Westside Rentals have become an integral part of home searching. Alex Lubinsky, CEO of Rentberry, studied San Francisco rental market for over a month before he realized there must be a better way for doing that, and turned to blockchain technology in order to transform online rental market.
Lubinsky created Rentberry to better connect tenants and landlords. Finding the perfect landlord can be challenging, but with Rentberry platform it’s easy to spot the perfect match thanks to blockchain technology, which tracks and records landlord’s reviews and actions within the platform.
Tenants can leave reviews on the location after they move out, basing on which Rentberry assigns a score. In such a way, future tenants may use this information when browsing potential properties, sidestepping the risk of facing a slumlord. Rentberry’s platform tracks landlord reliability by analysing various factors, including, for example, how long it takes landlords to respond to maintenance requests, or overall response time. A tenant has an access to all the reviews/scores, and can make weighed decision about who he or she is renting from.
Also, Rentberry platform simplifies tenant-property owner interaction, as all the communication takes place within the platform, making it possible to pull communication records if needed.
All the documentation procedures aren’t left unaddressed as well. Currently when speaking about enacting of rental agreement, there is a cumbersome set of documents to be prepared and procedures to be gone through. All this falls on the shoulders of landlord and tenant. Rentberry uses smart contracts to automate these proceedings, saving both parties time and money.
All in all, Rentberry tries to make step toward integrating technology into our everyday lives.
Rentberry is the first long-term rental platform that is moving to blockchain. With a recent $4 million dollar seed round from investors, the company is now launching one of the largest Initial Coin Offerings becoming one of the TOP 10 ICOs of 2018 by INC. Already raised funds will be used to support international expansion and the development of new features, including its proprietary scoring system, advanced apartment search algorithms, and crowdsourced community expansion.
On December 5, 2017, Rentberry conducts Initial Coin Offering (ICO) having already subscribed more than $20 million in just 14 days. According to information on the website, Rentberry offers bonuses to early investors during both pre-sale and main-sale stages of their ICO. More details can be found on their website ico.rentberry.com.