Crypto Rent: Tenants can now pay their rent in crypto, thanks to new features inside apps for renters.
A new app, called Livly, is now offering users the option to pay their rent in an array of cryptos.The app was originally developed to be a resident experience platform for apartment communities. The company behind it is an early Web3 adopter, and they say that they are revolutionizing apartment living.
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“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.”
The app can still pay landlords in U.S. dollars. They say they are “actively reviewing partnerships with widely accepted crypto exchange platforms to ensure maximum reliability and security.”
Crypto rent: Will renters use the option?
Livly Founder Alex Samoylovich said, “We want to offer residents who have cryptocurrency an additional option to pay their bills with the method they prefer. We are always looking for ways to enhance and expand resident convenience.”
Livly’s CEO, Brian Duggan said, “One of Livly’s biggest strengths is in our ability to evolve, meet, and exceed the needs of our apartment communities using modern technology. Livly has always been at the forefront of innovative proptech. It only makes sense for us to be the first resident mobile app to accept cryptocurrency for our residents nationwide.”
Livly joins another app that also allows landlords to ask for rent in crypto. ManageGo’s online platform provides a bridge between building managers or landlords and their tenants. The tenants can use the app to pay their rent digitally. So it is a natural step to then accept cryptocurrencies.This app accepts bitcoin, litecoin, or ether.
ManageGo uses Coinbase’s application programming interface (API). In this way, users get real-time exchange rates – tenants and landlords receive accurate conversions.
35% of Americans now rent the place they live in. In numbers, 44.1 million households are rented. However, 10.5% of all housing sits vacant. Renters are 89.9% more likely than homeowners to be behind on paying their rent, vs homeowners paying their mortgage.
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