A new startup promoting the real estate management platform Rention in Latvia, Lithuania, and Estonia hopes that the new solution will reduce home management bureaucracy.
Professionals from different industries have contributed to the development of the Rention platform. Investors in the project are the English/Russian fund Shvest Limited and businessman Rolands Feldmanis.
The Rention project came about as experts were tackling various real estate problems in several European countries, which meant spending long hours at different agencies, lots of red tape, etc.
The current property management system is obsolete and overly complicated in many countries, which is why the idea of Rention has been warmly welcomed in Latvia, Estonia, and other countries.
"Property management is in a state of chaos – in not only Latvia, but also in other European countries, where the prevalent bureaucratic procedures is the main problem. Hence the revolutionary idea of an unprecedented system for the industry,” says Aleksandrs Zelinskis, one of the founders of Rention.
The company is made up of professionals who have been working in real estate for a long time, and have now come up with an innovative project for an industry that has not changed for the past ten years.
Rention has been created so all property management issues could be solved within a single integrated system.The new property management system features a lot of options for homeowners, tenants, lessors, property managers, and service providers. After a new user is registered in the Rention system, he or she can add a property, make and receive payments, submit meter data.
New services are being added, and in the near future users will be able to apply for new services via their profiles and directly communicate with clients and service providers. There will also be an extensive list of contacts for property management and maintenance purposes. Another innovative feature in the Rention system is that it will offer statistical reports, something that has been unavailable in Latvia thus far.
A test version of Rention is available for users at www.rention.com.