PlaceToRent is a decentralized peer-to-peer (P2P) global platform in the space of both long and shortterm residential and commercial rentals, such as homes, apartments, office, retail, and industrial space. We anticipate capturing real estate rental markets worldwide. While the costs and specifics of property renting/leasing may vary across the globe, both domestic and international market participants experience similar problems in the traditional process. They include such issues as inefficient property search process due to fragmented listings data; outdated rental platforms; non-transparent rental experiences; high commission fees; exclusion from the rental market due the lack of credit or work history for low income or young households, etc. In light of rapid advances in technology fueled by ubiquitous broadband internet access, the reliability of data centers, and improved software development tools, there has emerged an urgent need to revolutionize the rental process by providing a solution powered by blockchain technology that will be efficient, beneficial, and inclusive for all market participants including tenants and landlords worldwide. Until recently, blockchain (a digital ledger in which transactions are recorded chronologically and publicly) was most commonly referred to as the technology powering cryptocurrencies like Bitcoin. However, rental industry participants now realize that blockchain based smart contracts will play a much larger role in the rental market, potentially transforming property-related transactions including renting/leasing, management and rent/bill payments by means of utility tokens. This is the niche that PlaceToRent has identified and will seek to fill and dominate in the near future.
Initially founded in 2006, PlaceToRent was established as a state-of-the-art Internet-based listing services (ILS) website with the goal of capturing the U.S. online rental market. The objective of PlaceToRent was to become an online portal for anyone seeking rental property or for property owners/managers wishing to list a vacancy. Due to global economic downturn during that time, the growing rates of foreclosures forced tens of thousands of former, often short-term, home owners back into rentals. In recognition of this growth trend, PlaceToRent was launched to capitalize on major opportunities within the rental market. PlaceToRent was an ILS with a unique payfor-performance/reward-based business model that added significant value to both apartment owners and renters; with a built-in direct communication tool, it was designed to bring apartment seekers and apartment managers together. PlaceToRent emphasized a high-quality search experience for renters implementing Web 2.0 and map-based search technology that resulted in renters rapidly finding their ideal apartment home. In 2009 the website went offline to allow the company to pursue investment opportunities in real estate.
Now, in recognition of disruptive blockchain technology and in response to greater demand for transparency and disintermediation, PlaceToRent is being launched as a decentralized peer-to-peer global rental platform to facilitate and streamline the rental process through blockchain technology by providing transparent and efficient transactions while reducing the need for a trusted third party.
The diversity of the underserved population creates opportunities for PlaceToRent to offer responsible, sustainable and innovative tools to a vibrant and stable demographic ignored by traditional rental process
In today's digitized and overconnected world, information related to property rentals/leasing is vastly available in the form of classified ads in print publications or online, e.g. multiple listing service (MLS), websites such as Trulia, Zillow, Booking.com, Airbnb, etc., that compile property information from various sources (private owners', brokers', and agents' databases) and allow them to modify it. This fragmented listings data occasionally displays outdated or incomplete property information, public record errors and other discrepancies which lead to ineffective property search by potential tenants.
The current rental market (both domestic and international) is riddled with lots of intermediaries (real estate brokers, agents) who, without contributing any significant value, prop up rental prices by tacking on their commission fees, making it less attractive for the tenants. Intermediaries generally do not want tenants to meet with the landlords directly, hence encouraging low market transparency, and they often are incentivized to negotiate higher rates to increase their commission. Besides, they largely prefer short-term rentals as there is no opportunity for them to earn commission until the next tenant. The tenant in the current rental market is the least informed participant and wields the least economic power.
Often, market participants do not have previous experiences, established credit/work history, or pre-existing relationships in their rental/leasing process, which may result in mistrust and completely factor them out of the rental market. Additionally, there is essentially no support for pre-lease due diligence, application process, contract execution, rent collection, dispute resolution, arbitration, and maintenance requests. The absence of realtime information may affect decision-making capabilities for all parties involved and result in a lack of transparency, efficiency, and a higher incidence of inaccuracies which subsequently creates a greater potential for fraud.
WHAT IS PTRT TOKEN?
PTRT Token is our proprietary cryptocurrency designed to facilitate a standardized global approach to the long and short-term residential and commercial rental process, with all transactions kept in a secure manner.
NAME:
PTRT
HARD CAP:
$30,000,000 USD
SOFT CAP:
$1,000,000 USD
EXCHANGE:
1 ETH = 500 PTRT Tokens
CURRENCY:
ETH, BTC
MINIMUM PURCHASE:
0.2 ETH / 100 PTRT Tokens
STARTS:
June 4th, 2018
ENDS:
Sept 25th, 2018
RESTRICTIONS:
USA, People’s Republic of China (except for Hong Kong, Macau and Taiwan), South Korea, Cuba, Iran, North Korea, Syria, Crimea Region
BONUS SCHEDULE:
June 4th – July 3rd: 1 ETH = 500 PTRT + 40% Bonus
July 4th – July 17th: 1 ETH = 500 PTRT + 35% Bonus
July 18th – Aug 14th: 1 ETH = 500 PTRT + 25% Bonus
Aug 15th – Sept 25th: 1 ETH = 500 PTRT + 15% Bonus
For more information, please visit:
▪ Token sale: https://ico.placetorent.com
▪ Telegram: https://t.me/joinchat/HEunw0991QjSLgtIVx-vPQ
▪ Bitcointalk: https://bitcointalk.org/index.php?topic=4266539.0
▪ Reddit: https://reddit.com/r/placetorent
▪ Medium: https://medium.com/placetorent
▪ Steemit: https://steemit.com/@placetorent
▪ FB: https://www.facebook.com/Placetorentico/
▪ Twitter: https://twitter.com/placetorent