Blockchain technology is beginning to change how people buy and sell properties. It’s even gained significant adoption by governments that want to improve land registry systems. How exactly can it improve other areas of the real estate sector? Here are a few ways that blockchain is impacting rental property management, including examples of some projects that are disrupting this industry.
In 2019, quite a few blockchain projects have brought innovation to both short-term and long-term rental platforms. The following four areas present a few ways blockchain could offer a better answer to both property owners and renters. The first three topics already have real-world blockchain solutions provided by specific platforms. In contrast, the last category is an area where blockchain could theoretically be applied to change the property rental industry.
High Commission Fees
Real estate and legal fees can be costly. While this is especially true when buying and selling properties, many agents charge high fees for rental properties as…