Hungarian startup to revolutionise renting procedures

A new Hungarian startup has been established to facilitate renting procedures by, in addition to bringing together the property parameters and the needs of the renter, providing the possibility of rating both the renter and the owner of the rented properties. hvg.hu reported.

Not a day goes by in Facebook groups concerning properties without a post about some renters who suddenly disappear after running down the apartment before paying, or completely reliable people who cannot find a lodging because they have kids or pets. This is why many vacant apartments are rented by the acquaintances of the owner, as we tend to trust the friends of our friends to unknown people.

A new startup named Smartlet solves this communication problem by its rating service. Fundamentally, the model is built on distrust between people not knowing each other and tries to address the most intricate question of the apartment hunting and renting procedures: communication, since most of the misunderstandings and disappointments are the results of miscommunication.

Everyone who has already rented a flat or provided one for rent surely has some bad memories about either the apartment hunt or the rented flat. Furthermore, the situation has been worsened by the spread of AirBnB, which considerably reduced the number of flats in good condition available for long-term rent, and the increased demand has raised the prices very high.

The main goal of Smartlet is to prevent these disappointments by making it possible to background check owners and renters. More specifically, it aims to bring together owners with solvent, reliable and cooperative renters, and to direct these renters towards the best possible apartments on the market.

Smarlet’s version under development is already available. First, the founders wish to validate the service in Hungary, but then they will aspire to enter the foreign market as well. The model applies sharing economy solutions, as it is operated by individuals, has reputation system, lots of people can participate in it as service provider and its use does not require any specific technical or working knowledge; however, there is no chance to earn extra profit besides the rent.

translated by Gábor Hajnal

Source: http://hvg.hu/