Tenants can now pay their rent in cryptocurrency thanks to new features in renter apps.
A new software called Livly now allows users to pay their rent in a variety of cryptos.
The app was originally designed to provide a platform for resident experience in apartment developments. The firm behind it is a Web3 early adopter, and they claim to be transforming apartment life.
“By accepting cryptocurrency for rent payments, specifically Bitcoin (BTC) and Ethereum (ETH), Livly will be combining frictionless property technology with the latest blockchain technology to address residents’ growing demand for more flexible and easy-to-use rent payment options.”
Landlords can still be paid in US dollars using the app. According to them, they are “currently considering agreements with widely recognised cryptocurrency exchange platforms to ensure optimum dependability and security.”
Will tenants choose the cryptocurrency option?
“We aim to offer residents who have cryptocurrencies an additional choice to pay their bills with the way they prefer,” stated Livly Founder Alex Samoylovich. We are constantly looking for new methods to improve and expand resident convenience.”
“One of Livly’s biggest assets is our ability to grow, meet, and exceed the expectations of our apartment communities using current technology,” said Brian Duggan, CEO of Livly. Livly has always been at the forefront of proptech innovation. It simply makes sense for us to be the first resident mobile app in the country to accept cryptocurrencies for our residents.”
Livly joins another software that allows landlords to request rent in cryptocurrency. ManageGo’s web platform connects building managers or landlords with their renters. The program allows tenants to pay their rent digitally. As a result, accepting bitcoins is an obvious next step. This program takes bitcoin, litecoin, and ether as payment.
ManageGo makes use of the Coinbase application programming interface (API).Users benefit from real-time currency rates, while tenants and landlords benefit from correct conversions.
Statistics on rent
Thirty-five percent of Americans now rent their homes. In total, 44.1 million households rent. However, 10.5 percent of all homes is unoccupied. Renters are 89.9 percent more likely than homeowners to fall behind on their rent payments, while homeowners are more likely to fall behind on their mortgage payments.