Non-Custodial Real Estate Leasing

Real estate owners can create a new lease listing with a number of parameters such as lease price, lease length and security deposit. On the other hand, once potential tenants find suitable listings from the leasing market, they can pay the security deposit and lease payment for the first month to accept the lease terms.

As soon as the payment is made and lease terms are accepted, the smart contract updates the operator access of the real estate to the tenant, providing the tenant the right to build and deploy onto the real estate without holding the underlying NFT. The tenant continues getting access to build and deploy as long as lease payment is made on a monthly basis until the end of the lease term. As soon as the lease term is over, the smart contract automatically revokes the operator access of the tenant. The tenant also receives the deposit refund from the smart contract.

Non-custodial real estate leasing allows real estate owners to generate passive income from their assets without the risk of tenants running away with their underlying NFTs. On the other hand, builders and innovators can get access to real estate to build at a fraction of the cost of buying outright.