As for the housing rental market, there are many landlords, arbitrary charges, false rental information and so on, and it is difficult for the government to record and supervise the housing rental situation. Based on the blockchain technology of encryption algorithm, the system constructs a housing leasing alliance chain.
The landlord and tenant sign lease agreements through smart contracts, determine the lease relationship, pay and collect rent automatically on a regular basis, and return the rental right when due. Our Rental Property System based on blockchain with smart contract securely shares the details about transactions by organizing the network, this action prevents fraud in the system.
The system maintains the privacy of valuable customers by eliminating attackers or frauds who inject vulnerable data. A blockchain offers different protocol networks so the development of the blockchain and its transactions do not interfere with live transactions.
These networks are used to develop, test, and deploy smart contracts and other transactions. In cirrus’s core wallet, the admin creates an account for each user and updates the wallet information in their profile and the transaction is done using the Cirrus API.
In this system, the admin can log in using their username and password. They can view the list of the landlords and tenants, and manage all their details by approving, blocking or deleting them from the system. All the feedback and ratings given by them can be viewed by the admin. Cirrus core wallet details of the landlord and tenant can be viewed by the admin on Cirrus Dashboard.
The landlord can register their account to log in to the system and upload property details for rent and get a suitable tenant for it. They can manage the property details of tenants by adding, updating and deleting them from the system. Also, they can manage the contract and create, confirm, and terminate the renting property contract. They can view the contract details such as rent, date and time, location of the property, and tenant. They can view details of the tenants who have applied for renting. The landlord can give the ratings with feedback about the tenant and view the rent transaction history.
The tenant can view the list of available property details and rent amounts. They can also send a notification to the landlord to rent the specific property and filter properties by amount range and location. The tenant will receive the confirmation of renting property details and deposit details and they can proceed to make payments for rent.
- It is easy to maintain.
- It is user-friendly.
- The tenant can easily apply for renting a property.
- The integration of blockchain incorporates easier, faster, and cheaper solutions.
- This will provide high-level security and privacy.
- The system eliminates mediation, less cost, and clear housing rental information.