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What is Rendin
Are you looking for a tenant? Add a property listing and find one!
Do you already have a tenant?Sign a Rendin-protected agreement.
Read about all of the benefits you get from the Rendin protection
Here is the non-marketing bullshit version of our service.
Rendin is the solution for renting (out) a home and signing secure rental agreements. The landlord has rent and utility payments guarantee with property protection, and the tenant can rent deposit-free.
No, we give protection in situations where home insurance can’t help (and vice versa). We strongly recommend all landlords to have the combination of secure rental agreement by Rendin and home insurance with liability insurance. If there is no home insurance, the owner is responsible, which can mean paying for thousands of euros of damages.
Rendin gives the landlord a rent and utility payments guarantee of up to ten months.
In case of a problem, the owner can be sure they won't miss out on rental income. The problem could be the tenant's debts, the tenant moving out unexpectedly or because of something else.Rendin also provides asset protection. Furniture, appliances and interior in the rental property are protected against damage caused by the tenant, whether intentional or not.
The greatest benefit for the tenant lies in renting without a deposit. When moving into a new home, the starting costs are significantly lower, as the tenant only has to pay the first month's rent. Without Rendin, the person usually has to pay at least three times the rent. Meaning: the first month's rent, the deposit, and sometimes the agent/contract fee.As for the landlord, there are Rendin experts available to help the tenant with any concerns or questions. And this is throughout the whole rental period.
Only termless rental agreements can be signed through us because this offers more security and flexibility than a fixed-term contract. For example, a termless rental contract allows both parties to terminate the contract with three months' notice; the fixed-term agreement can be ended only by mutual agreement of the parties or on the date of termination of the agreement.
Rendin's service fee is 2.5% of the monthly rent, and it's paid monthly until the end of the rental agreement. The tenant pays for our service. By agreement, the landlord can make these payments instead.
Rendin has built the background check around a credit check, credit score and previous customer experience. This method alone helps screen out a very large number of potentially problematic tenants.
A background check is, first and foremost, a tool to ensure we trust a potential tenant. The tenant takes the risk for their actions, not the landlord.
Every prospective tenant who wants to rent through Rendin has to pass an automatic background check with an Estonian ID. There are three types of results:
1. Successful check, i.e. a positive result.
In this case, the system evaluates that the candidate's payment behaviour is in order. Therefore, they don't have to pass additional manual check. Also, they won't be asked for further information or documents.
However, the landlord makes the final selection among the candidates who pass the background check. In addition, every landlord can carry out extra background checks on their own, for example, by enquiring about criminal records or searching on Google and/or social media.
2. The check gives a "pending" status, i.e. a manual review is necessary.
The system sets people in "pending" status if there isn't enough information. This includes many foreigners who are likely to be new arrivals, so their local ID is still very recent, and they have no credit history.
In such cases, our customer support specialist may ask the prospective tenant for additional information, such as a personal identity document and an employment contract which must be valid, termless and signed by a local employer.
3. The check fails, i.e. the system detects a candidate's problematic payment history.
This happens when the system detects a problematic payment history of the tenant candidate (debt collection claims, debts to service providers) or insufficient ability to pay (active quick loans, rental property disproportionately expensive for the income). Statistical models of the system also indicate when a person undergoing a check is at a very high risk of defaulting on their financial obligations in the future.
In addition, Rendin has its own database of tenants who can no longer rent a home through our platform since they've caused problems during previous tenancy.
In general, the background check fails if the system detects a tenant candidate’s problematic payment history (collection claims and debts to service providers) or insufficient solvency (active quick loans and disproportionately expensive rental space compared to income). Sometimes the system may ask for additional checks due to insufficient data. Rendin’s experts can always do a manual check to make sure the tenant candidate's financial background is solid.
In this case, the landlord should send a written notice to the tenant that the debt must be paid within the next two weeks, or their rental agreement will be terminated. If the tenancy is terminated and the property has been handed over to the landlord, but the tenant still refuses to pay, the landlord can turn to Rendin. Under normal circumstances, the landlord receives compensation for the damage within ten days of submitting the claim with supporting documents.
If the landlord has discovered the damage, they must inform the tenant. It would be reasonable to keep Rendin updated as well. Having supporting documentation, such as a properly created Handover Act with up-to-date photos, is required.The first step is to put the responsibility on the tenant and try to reach a compromise. If the tenant isn't cooperative and doesn't compensate for the damage, Rendin will take over the case. The landlord receives the compensation, and a claim is made against the tenant. For more details, please visit our Help Centre.
Contact our customer support if you have any questions