TAMPA, FL / ACCESSWIRE / December 5, 2019 / The rental property market is among the most significant business domains in the world. In the US alone, property rents have increased by about $3 per month for over a decade now, and despite hiccups here and there, it doesn't show any signs of slowing down.
The reason why millennials prefer renting homes and offices instead of buying them has to do mainly with the astronomically high prices of buying and maintaining properties.
Well, renting a home or office isn't a walk in the park either. Landlords have to worry about finding the right tenants who respect the community rules, pay rent on time, and stays away from legal trouble. Tenants, on the other hand, often have budget constraints, find it difficult to get prompt help, and are cheated with unforeseen repair charges while vacating the property.
Despite such huge market size, there is a lack of adequate and efficient property management software that works for both the property owners as well as tenants.
And that's until now.
"Housinet" is a modern and practical property management software that aims to efficiently resolve all the common problems faced in the property rental market.
What is Housinet?
Housinet implements the latest technologies such as blockchain, cryptocurrency, and decision-driven workflow to ensure a property rental experience that is efficient, transparent, and cheaper for both parties. The software is now available in the United States and Canada, with global expansion coming very soon.
How Housinet Works?
One of the main issues with the existing property management solutions is that they are designed to be a one-size-fits-all answer to all the problems faced in the property rental market.
However, Housinet takes a unique approach to the problem. Instead of cramming all the possible features, they have divided the core functionalities required by landlords or tenants into "modules". Therefore, users can pick the individual modules that work best for them.
There are 11 different modules to choose from, including the "Rental & Property History" module and other modules that focus on efficient property management.
The Rental and Property History module does the essential task of matching tenants and landlords. Each tenant, landlord, and property are given ratings based on the history and reviews corresponding to them. Thus tenants and landlords can evaluate each other before reaching an agreement. Moreover, tenants can find the property that suits them best.
Here's a glance at the other ten modules that users can choose from to customize their Housinet solution:
1. Tenant Placement: This module is focused on finding the right tenant for the property. Properties are marketed through traditional channels and blockchain companies in the real-estate business. Tenants are shortlisted based on pre-set decision rules, and once the tenant is selected, the lease agreements are processed with the help of the "Smart Contracts".
2. Repair: Tenants can request for new maintenance needs and the software implements "Smart Request Prioritization" to ensure that urgent requests and catered to immediately.
3. Rent/Payments: This module conveniently processes the payments between tenants and property owners. Instead of traditional payment options, rents can be accepted in the form of HIN tokens, Housinet's own cryptocurrency. If the rent payment needs to be split among multiple tenants or if a custom arrangement is necessary for payments, that is also possible.
4. Accounting: Appropriate accounting procedures such as T account level accounting, generating financial statements, tax form filling and submission, etc. are handled by the software.
5. Inspection: Real-time property inspection through mobile. Documentation in the form of photos and videos, as well as a comprehensive inspection report. Thus guaranteeing landlords that their property isn't misused and ensuring tenants that no unnecessary charges are levied while vacating.
6. Reporting: The software also prepares detailed reports for lease expiration, rent collection, profitability, etc. so that it becomes easier for landlords to analyze their business progress.
7. Maintenance: A detailed ledger of the maintenance activities are recorded. Landlords can attend to urgent repair issues immediately and allot time-boxes for matters that aren't urgent. You can also track the progress of repair works in real-time.
8. Inquiry Management: The dedicated inquiry management module provides live chat as well as robot-assisted immediate responses for tenant queries. Moreover, there is also an emergency call center in action, along with the capability to input query 24x7.
9. Notice Deployment: Owners can initiate or automatically send notices for nuisance, cease and desist, late rent payment, etc. to tenants.
10.Vacation Rental: The Vacation Rental module will allow you to lease your property for a short time while you are away. This module lets you advertise on vacation rental platforms, maintain a real-time calendar of property availability, perform a background check on renters, send instructions and notifications to renters, as well as easily collect the rent.
Apart from the modules, the HIN cryptocurrency token is also a significant feature of the Housinet software. The Rental and Property History module can only be bought using HIN tokens. If you purchase any other core modules using Housinet tokens instead of traditional currency, you will receive a 5 percent discount on the total amount.
Why Housinet is Ideal for Landlords and Tenants?
With Housinet, rental property owners no longer have to hire property managers to find tenants and look after the property, thus saving them thousands of dollars each year. Moreover, landlords can also accept payments in any major cryptocurrency including HIN tokens, thus improving the liquidity options.
Tenants can be sure that all the details of the property are honest and that all the paperwork is transparent.
Moreover, tenants and property owners can conduct a background check of each other before reaching an agreement.
This promising new technology has the potential to change the rental market as we know it today.