New digital platform seeks to cut costs of apartment rent

A Lithuanian company has developed a digital house rent platform, saying it will help cut the costs of such transactions.

“If the two parties sign a contract that involves a real estate agency, the total cost to the tenant and the owner is between €400 and €600. In our opinion, for services that can be digitized, the cost is too high,” said Kipras Krasauskas, head of NT Inovacijos.

Landlords in Vilnius and Kaunas will be able to use the platform to place ads, arrange photos and video footage of the property, arrange auctions, check tenants’ credit history.

Prospective tenants will be able to see the property without the need to make the physical trip.

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