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Mainstream-focused dApp for real-estate management and rental payments in digital currencies
Blockchain technology architecture allows for faster transfer, creation and storing of digital assets in a tamper-proof secure manner.
Once deployed on-chain, these records are unchangeable, publically available to everyone with access to the chain, can be called for execution based on defined parameters, and are veriﬁed by the blockchain’s consensus mechanism. Among other attributes, these characteristics allow parties to enter into binding digital agreements via smart contracts and execute transactions autonomously.
Rentible aims to establish a first-mover platform for managing real estate rentals on a blockchain through a seamless dApp and introduce a new model where tenants and landlords can intuitively send or receive rent payments in different digital currencies in a decentralized manner, whether they are technology-savvy or not.
In addition, the Rentible marketplace is planned to include alongside brick-and-mortar residential properties, also commercial properties, coworking spaces, and virtual real-estate on the metaverse.
- Free of redundant intermediaries
- Fraud prevention via immutable records
- Mass adoption focus & ease-of-use approach
- Virtual and actual properties
- First-to-market platform for an untapped market
Smart Contracts attributes
- Immutable Block Data
- NFT and META properties
- Community involvement
- Trustless property rental agreements
- P2P environment
- Automated listings matching
- Advanced Search
- Reviews system
- Community marketplace
- Tenants/Landlords and virtual land ecommerce participants
- Related Institutions (University programs, relocation companies)
- NFT creators
- Localized 3rd party services
- Partnered sharing-economies
- Innovative real-estate firms
Rentible combines blockchain technology and a topflight development stack to provide easy access to users who will be able to intuitively interact via associated mobile and web apps
Rentible is a next-generation platform that moves the entire rental process, from finding a property and signing the rental contract to the autonomous release of the deposit and everything in between, into a streamlined decentralized architecture, advancing sharing-economies into the blockchain era.
In addition to the basic features of a digital marketplace, Rentible plans to introduce new functionalities made possible by blockchain technology. These include: concluding rental agreements supported by smart contracts and verified on the blockchain; immutable records to eliminate "let-and-run" online fraud and scams; rent-related payments using digital currencies, lower costs via decentralization, and leasing and trading of virtual metaverse properties across different worlds.
Through a direct payment system, users can choose their preferred payment method for rent.
For example - landlords can request rent payment in a specific digital currency through an intuitive UI that records the transactions to a dashboard as proof of payment, while the utility token RNB is used as the internal unit to cover the fee of the service, in a similar manner to company or store credits.
The metaverse real estate section is planned to enable participants trade NFT backed virtual real estate across the metaverse.
For example, an owner of land in a metaverse can lease it to corporates to hold events, venues or open an eCommerce store. This land can be sold later in the same trajectory of a real-life property.
Transactions of virtual land sales will incur a fee, a percentage of which is aimed to be collected and distributed as rewards among community members to encourage involvement and participation.
RNB is the utility token of Rentible's platform. It is required for accessing functionalities across the ecosystem and benefiting from rewards and enhanced discounts to holders. RNB also serves as a measure of keeping the ecosystem neutral as it's available in a decentralized manner
- Property Listing
- Highlighting features
- Executing smart contracts
- Accessing rental-payments module
- Publishing promotional material
- Benefiting from discounted offers by 3rd parties
- Participating in community events
- Accessing rewards promotions
As a community-oriented platform, members that support the platform's operation will earn rewards. The different tiers for contributors will adjust from time to time following market possibilities and special promotions.
The below fees and rewards structures will be added to the platform over time as it expands and are not part of the initial beta stages.
A concept for a "tier structure" for liquidity providers offering Fixed Rewards that are calculated and claimable daily.
In addition to the Fixed Rewards, community supporters will also be entitled to Transactional Rewards from transactions across the platform (such as Metaverse Leasing, and Tokenized Marketplace transactions) calculated by their corresponding share from the total liquidity providers contribution.
- Listing fee - paid in RNB
- Deposit Smart Contract - paid in RNB
- Lease Agreement Smart Contract - paid in RNB
- Highlight listing - paid in RNB
- Credits packages - paid in RNB
Through a proprietary Smart Contract, owners of virtual properties across the Metaverse are expected to be able to publish their NFT backed virtual real-estate for rent while other users can borrow and utilize properties as venues.
- Planned listing Fee: Free of Charge
- Transaction Fee: A fixed percentage estimated at around 1.5% of every successful leasing transaction will be charged when the leasing period starts
Tokenized Virtual Property Purchases
As part of the Metaverse marketplace on the platform, there is a plan to include tokenized property sales, which will allow the formation of purchase groups in which individuals can join resources to buy a virtual property together and obtain fractionalized ownership of the virtual real estate.
Transaction fee: a planned 1.25% of all tokenized virtual property ownership rights will be charged as a platform fee, alongside 1% of the total transaction, a portion of which to be distributed among community members as incentivizing reward for their support
At a later stage, proposals to participate in specific tokenized virtual property purchases may be announced by members in a planned DAO.
Ecosystem - General
- Agency memberships - paid in RNB*
- Media spots - paid in RNB*
* when applicable in the future (a feature for Buying RNB with a credit card on the site will be included)
The focus of the functionalities will revolve around two core smart contracts: Deposit Agreement and Lease Agreement. These contracts tackle the common pain points described in the Market Problems chapter, such as 'let-and-run" scams and security deposit withholding.
The Smart Contracts are processed in the background and synchronized with a user-friendly interface to enable also non-tech-oriented users to benefit from the innovative characteristics of blockchain technology.
Bancor DAO has whitelisted Rentible and offers community members impermanent loss protection for single-sided providers.
Holders of RNB will be incentivized via discounts across the ecosystem.
RNB tokens used in transactions across the platform are planned to be funneled through a wallet designated as a "vault". The vault serves, among other functions, as the liquidity provider of RNB tokens for users who wish to purchase RNB or pay for services across the platform with Fiat.
A removal mechanism will ensure the collection of RNB tokens from the circulating transactions and place them in the vault. This protocol is intended to provide continuous funds for further growth of the ecosystem.
- Digital Nomads that are looking to book and lease accommodation for mid-to-long term periods (3+ months) and are interested in using digital currency to pay the security deposit and rent payments, rather than convert funds to local currency
- International students and expats looking for safeguarding from online “let-and-run” scams by transacting the deposit via secure smart contract
- Early adopters looking to advance the cause of making payments with digital currencies
- Users in locations that suffer from low-trust level in local currency
- Landlords paying on average 12% in annual fees to brick-and-mortar management agencies or to online platforms that are charging up to 17% from both parties, will see their costs drastically cut to single-digit
- Landlords seeking to accept monthly rent in digital currency on a weekly/monthly and are looking to connect with tenants
- Co-working spaces that are looking to attract digital nomads and expats, and build a next-generation user base by introducing rent payment transactions in digital currencies
[Applies to individuals, agencies, and corporates]