Aussie landlords using ratings, reviews like Airbnb to verify tenants
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One of the main challenges in the landlord-tenant relationship comes from the asymmetry of information.
Rental history can be unreliable and limited. There is also minimal risk to a tenant’s reputation if they misbehave in a tenancy.
At the same time, Airbnb hosts accept guests with ease, and those guests most often leave the property in mint condition? Why is that, and how can it be replicated in the traditional long- term rental industry?
Review systems like Airbnb serve two purposes. One focuses on the past, and one on the future.
1. The past: Reviews help landlords select trustworthy guests, and filter out the bad guests. The references or reviews cannot be easily manipulated because they are transparent and have been explicitly written by other hosts in the past.
2. The future: The guests have a lot to lose if they don't behave well with the property. A bad review from the landlord could limit their ability to rent new homes in the future.
Trustbond is helping Australian landlords use reputation reviews from Airbnb, eBay, Uber, LinkedIn and many others to the complement tenancy applications. This gives landlords much more accurate information about the trustworthiness of the tenant and their previous behaviors.
A TrustScore is generated for the tenant to use now and in the future. This creates a fundamentally different incentive for tenants to behave well in the property, since bad behavior will affect their Trustbond TrustScore in the future.
For more information, watch the video below or go to Trustbond.
