Listing

The listing modules covers the following aspects of RENTOP

• Adding of property listings

• Applying to property listings

• Accepting of applicants

• Creating rental contracts

• Making and releasing of deposits(in development)

Adding Listings

Adding properties can be done through the RENTOP UI or third party integration to pull properties from existing property management software(which speeds the process, but still requires setting some fields manually after). The main pieces of information added in addition to the address and rent cost are the conditions to be assessed when verifying renters. These include income and credit thresholds you would like the tenant to pass.

Properties are listed two places:

• On blockchain to create an immutable record at that point in time for the property conditions.

• In a centralized database, which stores only address and owner system id fir purposes of fast querying from the app.

To add a listing on the app, users who have made it through verification should navigate to the dashboard and hit add listing. They are able to then search for the property they wish to list and add a number of fields to the listing. This will include the rental price, a link to any walkthrough video or photos, and the parameters to be used to check eligibilty of the rental.

The filter process is simple, the landlord can set income filters and credit filters(USA) that are used to screen users applying for the property. This data will be included in the listing blockchain contract associated with the listing. The filters settings will be used and compared against user data when they apply, returning the application as a serious of true or false values associated with whether or not the user passed that respective filter.

Once the property manager hits submit, the listing will be verified against the on chain data associated with the user. We use external data providers to perform this check and should be able to process most listings automatically without issue. Should the listing not be able to verified instantly(which would be mostly likely due to recent transfer of ownership), the Meta Space Lab team should be contacted immediately to help onboard in this case, which will simply require providing the proof of ownership to ensure only verified listings remain in our platform.

After the listing is added, the ability to add tokenizations to the property is presented. Depending on tokenization provider, more documentation may be provided, but in the simplest terms, we will create an ERC3643 compliant token with a variable number of shares based on property value (our formula is 1 share per 10k USD of property value rounded down), which can be customized. This will be issued to the connected wallet, but we require having a full external wallet for this functionality, not simply an in app wallet.

Applying

For users looking to rent, they should navigate to the apply page, and then search properties. They will be prompted whether they are looking for short term or long term rentals, then enter the postal code or city of the location they looking to rent. Upon clicking to apply, the filters set on the previously described landlord step are displayed to give a general idea of the listing requirements.

Users must then complete data requests from open banking and if relevant, credit service providers, to pull their data via third party API integrations. None of this exact data is saved, but will be used to generate a comparison of their results against the previously defined filters set by the landlord, simply seeing pass or fail for each filter, along with what their data scores were.

Should the user decide to continue, an application entry is created on a contract specific to the listing with the address of the applicant and the status of matching to all the filters in question. No other information is stored. If the user decides to, they can mint an NFT attestation of their scores using ZK proofs to verify passing criteria later on without future data pulls, but this is completetly optional. (See the verification page for more details)

In the case a user does not pass the filters for the property, they can still submit for the discretion of the property management, but may also take advantage of suggested properties nearby that they satisfy criteria of(should they exist).

Accepting Applicants

Property managers are able to view listings they have submitted on the manager dashboard where they can view applications that have been submitted by applicants. No personal data is visible here, only timestamps and the results of each verification check that has been configured. Management can choose to accept any tenant listed, even if they failed check criteria, as this at their discretion. Once accepted they will move onto the contract generation portion.

Rental Contract Creation

Once a tenant has been accepted by a property manager, the manager must fill out a rental contract. This will include the deposit amount and duration, as well as the terms for which their deposit will be released. The terms are formulated in a checklist format that the landlord can itemize as individual conditions of the contract. When it comes to releasing the deposit later, they are able to toggle the satisfied conditions to trigger the release process automatically. Contract and conditions are also available for access and integration through API endpoints to pull for specific properties.

Deposits and Releases

Once a contract has been submitted by property management, it goes into a pending state while it awaits for acceptance by the tenant. The tenant must access their dashboard and accept the terms of the contract to continue. At this point they will be prompter to make the payment for their deposit either through traditional payment solutions or crypto payment gateways using stable coin payments to process the payment to property management.

After a period of time as outlined by the contract itself, management will be prompted to evaluate satisfaction of the release conditions previously outlined. If all are checked, they are able to iniate the release process automatically on the last check completion to return deposit amounts back to the tenant through the same means previously outlined.