Free electronic rental contract to provide more data

BoligPortal now offers tenants and landlords a free digital rental contract. In return, Denmark’s largest portal for rental housing will have access to more data, which will strengthen its other products.

A tenant and a landlord can now draw up an electronic rental contract at no charge and sign it online with NemID. BoligPortal, the largest Danish portal for rental housing, provides this solution.

“We believe that we are alone in offering this solution entirely free of charge. At the same time, there are no restrictions, so you can make as many rental contracts as you would like and sign them electronically,” says Anders Hyldborg, CEO of BoligPortal.

According to Hyldborg, the new service is completely in line with the company’s ambitions of strengthening its competitive edge. BoligPortal’s CEO thinks that demand for rental housing is increasing steadily in Denmark, and there is strong competition to match tenants with the right homes.

It is not a condition of using the free solution that the home is rented via BoligPortal. Even if the tenant and landlord have made the contract themselves, they can still use the free service.

“The data of the home is then readily available in the system, and we hope that the landlord will use us to rent it out the next time,” says Hyldborg.

“We are strengthening our current position as Denmark’s largest rental platform with our new offer of a free digital rental contract. We originally launched the electronic service three years ago and it has been of great benefit to our landlords ever since. Several thousand rental contracts were digitally signed during this period, and with this update, we are offering an even better product,” explains Hyldborg.

In the past, BoligPortal charged for its rental contracts, just like all other rental providers on the market. BoligPortal’s new solution also includes GDPR-secure storage.

According to the company’s CEO, more than 100,000 home seekers used BoligPortal to find a new home during the past year.

“By making the contract available for everyone to use free of charge, we expect that even more home seekers in Denmark will use our platform. With more data, we will be able to continuously optimise our services and thus deliver even more value to the industry,” says Hyldborg.

Three revenue streams
Even though the rental contract itself is now free, BoligPortal will earn revenue from both tenants and landlords in other ways. Tenants are required to pay in order to get contact information on the homes they find in searches. For landlords, advertising is free, but they can opt for extra promotional exposure for a fee.

The third revenue stream for BoligPortal is the sale of solutions where the collected data may be used by landlords, investors, and finance providers. Hyldborg indicates that new initiatives in this area will be launched after the summer break.

“The more rental data we get, the better the product we can provide. We are working on a model with three different products aimed at landlords and other stakeholders.”

“We have got a solution for large property developers, financial institutions and professional investors, another solution for medium property developers and large landlords, and then a third solution for smaller landlords based on their own portfolios. All in all, the solutions serve as a tool for people to make wise decisions in their everyday lives – decisions that really make a difference,” explains Hyldborg.

The article is published by Børsen. Read the original article in Danish here.