Disrupting Real Estate Management Cryptocurrency Payments with Denny Bohs - Episode #54

Denny Bohs discovered project management while working for a small start-up he helped build from two to 5,000 clients. He and the team at Renteez realized that as the rental market explodes, today’s renters expect to pay digitally. However, most property management software targets large property management firms. Many owners are left without an affordable and accessible option. 

In addition to creating an easy-to-use, integrated digital rent payment solution, the team at Renteez is adding the option to pay using cryptocurrency. They minted a coin to facilitate the process on the platform. Renters who choose to pay using the renteez coin will have the option to stake their rent payment and earn a return — something previously unheard of in the rental market. 

Key takeaways 

• The explosion of multi-family and built-to-rent properties combined with the ability to work remotely and the competitive housing market all contribute to a mushrooming rental market. 

• The newer generation doesn’t use checks and expects digital payment options. 

• Some landlords may own several properties, but many are smaller and independent and don’t have the software and support to manage their investments effectively. 

• Many digital platforms like PayPal limit the dollar amount you can send for free. For many landlords, fees eat into profits. 

• Many digital platforms also take several days to process the payments as they are transferred onto the platform and then have to be transferred into the landlord’s bank account. 

• There are property management software solutions on the market, but many target larger companies or require technical expertise. 

• For these and other reasons, there is a pent-up demand for landlords to have a better way to accept payments. 

• Landlords with only one or a few properties who can't accept digital forms of payment are missing out. 

• Renteez is creating a service that is affordable for landlords, easy to use, fast, and offers all the digital payment options that tenants want. 

• In addition to standard payment options, renters can pay with cryptocurrency seamlessly using the platform. 

• Renters who choose to use the coin will eventually have the option to stake their rent payment and turn their monthly rent into an investment. 
  

Quote of the show: 

11:05 “And if you're a landlord, you shouldn't have to necessarily be technically savvy in order to do what you're doing, right? So, you don't have to be, become like an expert in how all this technology works in order to do this. But some of the services that are out there, you know, they're, they're not very intuitive and people have to try to figure out how this works and it becomes a source of frustration...” 

 

Links: 

LinkedIn:  https://www.linkedin.com/in/dennybohs/ 

Company Website: https://www.renteez.com/ 

 

Ways to Tune In: 

Amazon Music - https://music.amazon.com/podcasts/eccda84d-4d5b-4c52-ba54-7fd8af3cbe87/disruption-interruption 

Apple Podcast - https://podcasts.apple.com/us/podcast/disruption-interruption/id1581985755 

Google Play -https://podcasts.google.com/feed/aHR0cHM6Ly93d3cuZGlzcnVwdGlvbmludGVycnVwdGlvbi5jb20vZmVlZC54bWw 

Spotify - https://open.spotify.com/show/6yGSwcSp8J354awJkCmJlD 

Stitcher - https://www.stitcher.com/show/disruption-interruption 

YouTube - https://youtu.be/pbP9a8YYHJ4