Renting made easy Gladstone Startup company Igloo to help deliver world first product
MORE than 3000 rental agencies across Queensland will soon be using the world’s first digital tenancy agreements created by Gladstone start-up, Igloo.
The company, founded in November, has partnered with the Real Estate Institute Queensland to deploy the product throughout the REIQ network.
Igloo CEO Jeremy Hastings said he was humbled, “for REIQ to put a lot of trust and faith in me and my team is a really big thing.”
He said REIQ had a similar product but by partnering with Igloo they were able to “take an existing product and network and put it into cutting edge technology”.
Mr Hastings said by creating Igloo, he wanted to reduce the stress in the rental process for all parties involved.
By stepping away from paper tenancy agreements, the new technology will allow parties to “manage your entire contract in the palm of your hand”.
Mr Hastings said the digital smart contract used blockchain technology.
“With our technology, a judge can be sitting in court and look up the full history of the relationship between the parties ... without submitting any paperwork to the court,” he said.
“They know it’s true because if anyone tampers with those documents, the record is on blockchain to prove it’s not the original.”
“By using blockchain we actually bring immutability to the whole process – we bring a level of trust that nobody has ever seen or had been able to achieve before.”
Mr Hastings said the new product would make it easier to request contractual changes such as adding a tenant to the lease, requesting to have a pet approved or even to organise for maintenance or an inspection.
“It becomes almost a central place to manage the relationship between all the parties,” he said. “Everything is just done inside our platform.”
“We wanted to make sure the platform enabled you to have a fun, enjoyable life without the stress and pressure of worrying about a shelter or roof over your head.”