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What is OpenBrix? One in five people in the UK rent privately from a private landlord. For this, they pay often high sums every month, and live more or less at the landlord’s mercy. Tenants can be evicted at any time, such as if the landlord wants to sell or increase the rent. This, for no gains in credit score or much-needed proof of ability to pay. Currently, if you‘re renting and paying your rent on time every month, you don‘t get any credit for doing so. It doesn‘t help your credit score and doesn‘t help to prove your spending capacity which is taken into account for getting a mortgage. For tenants, this is money going out every month but without the proof of affordability that a mortgage brings: no rental statements are issued at the end of the tenancy or any proofs of payments made. OpenBrix also has specialists to help tenants get set up with utilities, council tax and all practicalities. Every time a tenant moves, all paperwork, checks and searches have to be done again, at great cost to the tenant and at great time outlay to the agent. Openbrix brings proof to tenants of their payments made and can start to generate an immutable record of their rental payments which can be beneficial for their credit scores.
Blockchain Industry Review
Property lettings on blockchain. What’s next? With Shahad Choudhury, co-founder OpenBrix
