Startup automates long-term rentals in Brazil

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Spotted: Brazilian startup Quinto Andar has developed a digital automation system for realty rentals. Visits are scheduled via an app and contracts signed with digital signatures. Guarantors and deposits are replaced with the firm’s own guarantee for clients with a good credit score. The company claims it reduces property rental times from one month down to three days.

The goal is to simplify the rental process for tenants and landlords, especially in places where renting has not been easy. Founder Gabriel Braga was motivated by what he saw as a frustrating long-term rental process in Brazil’s larger cities.

“Brazilians understand the pain that is renting, the need to find a guarantor or a deposit, but Americans for example may not understand what we were trying to address straight away,” Braga told Forbes.

Takeaway: Quinto Andar is the latest example of how technology is being used to simplify and speed up real estate rental processes. It builds on what platforms like Homeit and TravelNest aim to do in terms of automating rentals but applies it to long-term rentals rather than vacation stays.  The firm is already present across 15 Brazilian cities, but there is potential for an eventual global expansion. “Countries known for inefficiency and bureaucracy in rental processes are a good opportunity for us both in Latin America and in Europe,” Braga said.

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