PlaceToRent is a decentralized P2P global platform in the scope of both long and short-term residential and commercial rentals, like homes, apartments, office, retail, and industrial space. They envision attracting real estate rental markets worldwide. While the values and specifics of property renting/leasing may differ across the globe, both domestic and international market participants encounter related difficulties in the traditional process. They cover such issues as incompetent property search process due to fragmented listings data; outdated rental platforms; non-transparent rental activities; high commission fees; eviction from the rental market due to the absence of credit or work history for low income or young households, etc.
Blockchain lately was most generally regarded as the technology powering cryptocurrencies like Bitcoin. However, rental industry participants now recognize that blockchain based smart contracts will represent a much more significant position in the rental market, probably converting property-related transactions including renting/leasing, management and rent/bill payments using utility tokens. It is the niche that PlaceToRent has distinguished and will solicit to fill and dominate soon.
Problem and Solution
The current rental industry both domestic and international is riddled with many of intermediaries who, without providing any meaningful use, prop up rental costs by tacking on their commission charges, making it less engaging for the tenants. Intermediaries usually do not want tenants to engage with the landlords immediately, hence supporting low market transparency, and they often are incentivized to allocate higher rates to boost their commission. Moreover, they mainly favor short-term rentals as they cannot gain commission until the next tenant. The tenant in the current rental market is the slightest learned participant and utilizes the least economic power.
PlaceToRent has created an integrated ecosystem of commercial and residential rental marketplace powered by blockchain decentralized technology, self-executing smart contracts, and service tokens with the intention to decrease the bureaucracy associated with renting space, profit on significant possibilities within the rental market, and present users with new advantageous features. In particular, their platform will implement tools for such underserved portions of rental market participants as younger and low-income households to stand out in low opening markets. The variety of the underserved population generates opportunities for PlaceToRent to offer reliable, sustainable and innovative tools to a lively and solid demographic callously overlooked by the traditional rental process.
PlaceToRent will attempt to raise the level of rental market inclusion and grow the number of options for the underserved. For every achieved lease with a tenant who has no credit or work history, PlaceToRent will incentivize landlords and property managers by reimbursing any previously charged associated listing fees and rewarding them with PTRT tokens.
PlaceToRent (PTRT) Token is the native cryptocurrency that gives token holders access to services on the platform. PTRT token is the contract unit presenting an indispensable service for its users to associate within the platform and operating as the main driver of the PlaceToRent ecosystem. PTRT token will continuously circulate within the PlaceToRent ecosystem and will be attached to all features of the functionality of the PlaceToRent platform. They anticipate the token to motivate efficient use and governance of the platform.
The PlaceToRent team is an interdisciplinary organization of dedicated specialists who are dedicated to transforming rental experience worldwide utilizing blockchain technology and who have the skills and expertise needed to achieve towards their grand vision. Their professional experience crosses the fields of finance, data analytics, engineering, research, development, design, system architecture, and retail.