Rently Declares War on Scammers with Integrated, Data-Driven Technology for Secure and Seamless Housing Rentals

SINGAPORE,March 24, 2025/PRNewswire/ --Rently Pte Ltd,Singapore'sfintech startup in the property sector, has declared war on rental scammers with its integrated services technologies that offer secure housing rental transactions for tenants and a smooth process for landlords.

Between January andOctober 2024, over430 rentalscam cases were reported inSingapore, resulting in losses of at least$2.7 million. Common scam tactics include fake rental listings on Facebook and Carousell, and impersonating legitimate property agents. The surge in scams has added to market challenges, including rising vacancy rates, and increased disputes, with landlords bearing the burden of paying government wealth taxes on vacant properties.

Rently addresses these challenges by offering essential solutions such as landlord verification, secure payment methods, and advanced scam prevention technologies. The platform'sRently Careservice,Asia Pacific'sfirst deposit-free subscription, provides tenants with financial flexibility while protecting them from rental scams and disputes. Rently Care allows tenants to rent without a deposit, as Rently covers the deposit for landlords, alleviating the financial burden on tenants and ensuring landlord security.

A real-life example of Rently's impact is seen in thestory ofJM and Faz, a couple who lostS$7.2Kin a deposit scam through a fake Facebook rental listing. After the incident, they turned to Rently for support and have since partnered with the platform to spread awareness about fighting rental scams, sharing their experience to help others avoid similar pitfalls.

Rently enhances security by collaborating withExpatHandoversfor thorough inventory checks, often identifying hidden or costly issues that might otherwise go unnoticed. Tenants also benefit from complimentary home contents insurance underwritten byChubb, adding an extra layer of security.

All property listings on Rently are verified through Singpass MyInfo, ensuring only verified and trusted partners are listed.  As an associate partner of theReal Estate Developers'Association ofSingapore(REDAS), Rently collaborates with reputable co-living and serviced apartment providers, such asHabyt, Far East Hospitality,andCasa Mia, ensuring secure and reliable housing options. The platform features an AI-powered application process along with AML (Anti-Money Laundering) and anti-fraud checks, creating a safe and transparent rental environment.

Rently also offers a hassle-free process for landlords. Landlords can list properties for free, receive security deposits directly from Rently, and manage contracts seamlessly withSingpass integration. Rently's platform enables landlords to draft professional-grade contracts in just 60 seconds ensuring fairness and consistency and simplifying the rental process

ThroughRently Pay, a free service that ensures timely rent payments, landlords receive one month of guaranteed rent payout in case of tenant default. Rently pays rent in advance to landlords and then deducts the amount from the tenant's account, ensuring the full payment is received with no deductions

"At Rently, we are committed to transforming the public's perception of housing rentals by making the process secure, seamless, and scam-free. We are collaborating withHabytto automate end-to-end payments enhances convenience and transparency. We are also planning to introduce a platform and helpline for deposit disputes, offering services and information to assist individuals in recovering their funds,"saidShirley Tang,Chief Growth Officer, Rently.

About Rently

Founded in 2022, Rently Pte Ltd is aSingapore-based fintech startup in the property space that provides deposit-free rental solutions through their proprietary Rently Care subscription and property management services via the Rently app's inventory feature. Rently allows the flexibility of listing any property type and aims to connect potential tenants with landlords, agents, and enterprises in a secure and effective way. The platform ensures that the process of renting a property is transparent, safe, and efficient. Rently is also a subsidiary of REFIN Group Limited.

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SOURCE Rently