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RENTION is the winner of Latvia in smart cities category

Country: Latvia

Category: Smart Cities

Name: Rention

Project Aim: Strengthen its positions in Europe and throughout the world, and the system is available in six languages – Latvian, Lithuanian, Estonian, Russian, Hebrew and Chinese.

 

 

What is Rention?

“Rention”: An Innovative Property Management System

It is a property management platform that has been created with the intention of merging all housing management activities into a united system. The range of operations is adapted to owners and renters of premises, as well as management representatives and various service providers, ensuring convenient communications between the users and the consumers. The system can also be used to write up and pay bills, submit utility meter information, apply for new services, and do other things that are related to housing.

What does it consist of?

The idea is based on problems in the area of property management in various European countries – the need to spend a lot of time at various institutions, to fill out documents that are frequently unnecessary, etc. The system of property management is out-of-date and complicated in many countries, and the “Rention” idea has been much appreciated in Latvia, Lithuania, Estonia, Poland, China, Israel and other countries. “There was chaos in the property management area not just in Latvia, where work on the ‘Rention’ system began in 2014, but also in other European countries,” recalls “Rention” board chairman Aleksandrs Zelinskis. “The main problem was bureaucracy, and that’s how we came up with the revolutionary idea about an unprecedented system in this specific sector.”

How does the company work?

The company consists of a professional team with years of experience in IT and property management, offering innovations in an area that has not changed during the past 10 years. The “Rention” platform was established with professional from various sectors, as well as investments from the British investment fund Shvest Limited and the senior investors of the Latvian Business Agency Network (LATBAN), Maksims Koržanovs and Rolands Feldmanis. During the course of the work, various solutions were integrated into the platform, including the most often used bookkeeping systems for simplified building administration. A partnership was launched with companies in the “Creditinfo Group,” which operates in 29 countries around the world, on the issue of simplified data exchange related to debtors. “Rention” holds a professional civil liability insurance policy to guarantee the security of client data.

 

“As one of the founders of ‘Rention,’ I am truly surprised at the massive interest that I have seen in this sector about this new system,” says Aleksandrs. “We’ve informed property management people in various countries about the platform and its operations, and everyone wants to use the simplified and modern solutions to save time and resources on an everyday basis. As we have developed the system, we had adapted important functions for the needs of building owners, renters and management representatives.”

 

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