The DApp rent will sanitise the rent ecosystem and bring trust and transparency in the economics of demand and supply. The target audience include LandLords, Homeowners, real estate agencies, individuals looking for accommodation/apartment/flats/offices for rent. The high network in the real estate sector is a plus to the team to improve the housing sector with Cardano DApp Rent.
<https://www.pulse.com.gh/news/local/watch-out-for-online-scam-as-2-estate-agents-arrested-for-tonaton-fraud/k1wnj27>
This will progressively eliminate rent fraud in the years ahead, create a credible housing sector and enhance accountability.
<https://theghanaweb.com/beware-of-rent-fraud-in-accra-and-some-part-of-the-country>
<https://www.modernghana.com/lifestyle/10370/9-essential-things-to-consider-before-renting-an-apartment.html>
- Registration of Subscribers
- Payment of rent allowance with ADA
- Verification of subscribers
- Proof of identity
- Property listing and location verification
- P2P transaction policy agreement
- Real Estate company listing
**Detailed plan (**Problem and solution)
The goal of the project is focused on using DApp to create an authentic registry for property owners to allow for easy search and renting of houses in Ghana. The purpose of funding is to focus on the first phase of the project for the next 3 months and undertake research for the DApp development and usability in Ghana. The research would increase participation among stakeholders in preparation for the DApp and usage.
Ghana is facing an acute housing challenge with a housing deficit standing at 2.4 million. Each day, an estimated number of over 1400 people are looking for houses to rent in both urban and rural communities. The search for accommodation/apartment and flats come with challenges especially, travelling from city to city, province to province, and from one community to another. The cost in travelling and dangers involved in commuting from one city to another is disheartening and a daunting task. In many cases these desperate individuals looking for rent fall in the hands of fraudsters.
Getting the money for rent is not the problem but finding the right landlords and housing owners is the biggest threat. Many at times, rent allowances and fees are paid to scammers posing as apartment or flat owners. There are also rent agents charging exorbitant fees to view the accommodation/apartment/flats and often terms as Viewing Fees. The agent will further charge a 10% agent fee when one is interested in the house. The agents will first, inflate the rent fees, he takes the additional fees, and secondly ensure he makes another 10% on the actual fees.
Creating a DApp will help eliminate fraudsters, middlemen charging exorbitant fees making rent more expensive in Ghana. House owners and individuals seeking accommodation/apartment/flats through a constructive verification process, would help both parties to freely negotiate terms to build trust and competence. DApp will bring together all home owners and individuals and groups looking for accommodation/apartment/flats/office space to rent. It will be a decentralized one stop shop. DApp will reduce cost, scammers and build trust in the rent and accommodation ecosystem. It will allow homeowners to list their homes on the DApp for visibility.
We are partnered with Calogeron Ghana Limited, a construction and real estate firm and Procurement and Project Management Consultancy (PPMC) <https://ppmcgroup.com/>
The rent and accommodation part of the real estates are not well organized to build trust and build confidence of both homeowners and accommodation seekers. It will take approximately a year for stakeholder to trust and have confidence in Dapp Rent. This comes with consistent education, promulgation of success stories and transparency to convince the population to the Dapp Rent. Ghanaian do not easily embrace reforms but when they build trust for something, they go in all out for it.