Blockchain Rental Property System with Smart Contracts
1.Background/ Problem Statement
As for the housing rental market, there are many landlords, arbitrary charges, false
rental information and so on, and it is difficult for the government to record and supervise the
housing rental situation. Based on the block chain technology of encryption algorithm, this paper
constructs a housing leasing Alliance chain. The landlord and tenant sign lease agreements
through smart contracts, determine the lease relationship, pay and collect rent automatically on
a regular basis, and return the rental right when due. In the design of the Alliance chain network,
the certification department node and the record managerment node are introduced to
authenticate the authenticity of the house source and personal identity information, and backup
the lease contract information, register the housing rental situation, and achieve the effect of safe
leasing. This method eliminates the mediation, less cost, clear housing rental information, and is
conducive to government market supervision.
As for the housing rental market, there are many landlords, arbitrary charges, false rental information and so on, and it is difficult for the government to record and supervise the housing rental situation. Based on the blockchain technology of encryption algorithm, the system constructs a housing leasing alliance chain.
The landlord and tenant sign lease agreements through smart contracts, determine the lease relationship, pay and collect rent automatically on a regular basis, and return the rental right when due. Our Rental Property System based on blockchain with smart contract securely shares the details about transactions by organizing the network, this action prevents fraud in the system.
The system maintains the privacy of valuable customers by eliminating attackers or frauds who inject vulnerable data. A blockchain offers different protocol networks so the development of the blockchain and its transactions do not interfere with live transactions.
These networks are used to develop, test, and deploy smart contracts and other transactions. In cirrus’s core wallet, the admin creates an account for each user and updates the wallet information in their profile and the transaction is done using the Cirrus API.
- Working of the Project
In this system, the admin can log in using their username and password. They can view the list of the landlords and tenants, and manage all their details by approving, blocking or deleting them from the system. All the feedback and ratings given by them can be viewed by the admin. Cirrus core wallet details of the landlord and tenant can be viewed by the admin on Cirrus Dashboard.
The landlord can register their account to log in to the system and upload property details for rent and get a suitable tenant for it. They can manage the property details of tenants by adding, updating and deleting them from the system. Also, they can manage the contract and create, confirm, and terminate the renting property contract.
They can view the contract details such as rent, date and time, location of the property, and tenant. They can view details of the tenants who have applied for renting. The landlord can give the ratings with feedback about the tenant and view the rent transaction history.
The tenant can view the list of available property details and rent amounts. They can also send a notification to the landlord to rent the specific property and filter properties by amount range and location. The tenant will receive the confirmation of renting property details and deposit details and they can proceed to make payments for rent.
In this project, the front-end involves Html, CSS, and JavaScript and the back-end involves ASP.NET. The IDE used is Visual Studio and the database is MSSQL.
- Advantages
- It is easy to maintain.
- It is user-friendly.
- The tenant can easily apply for renting a property.
- The integration of blockchain incorporates easier, faster, and cheaper solutions.
- This will provide high-level security and privacy.
- The system eliminates mediation, less cost, and clear housing rental information.
- System Description
The system comprises 3 major modules with their sub-modules as follows:
- ADMIN
- Login
- The admin can log in to the system using a username and password.
- Manage Landlords
- They can view the list of all the landlords.
- The admin can manage the landlord by approving, blocking or deleting the landlord from the system.
- Manage Tenants
- The admin can also view the list of all the registered tenants.
- The admin can manage the tenant by approving, blocking or deleting the landlord from the system.
- Landlord ratings
- The list of all the feedback and ratings given by the tenants to the landlord can be viewed by the admin.
- Tenant Ratings
- The list of all the feedback and ratings given by the landlords to the tenant can also be viewed by the admin.
- Cirrus Dashboard
- The Cirrus Dashboard contains the information about cirrus’s core use and wallet details of landlords and tenants.
- Logout
- The admin can log out from the system after finishing their work.
- LANDLORD:
- Register
- The Landlord can register to the system for uploading property on rent and its relevant details and get a suitable tenant for it.
- Login
- They can log in to the system using login credentials.
- Home Page
- The Home Page is the main page of the Landlord module in this system.
- Manage property details
- The landlord can view, add, update and delete the property details.
- Manage Contract
- The landlord can create, confirm, and terminate the contract of renting property.
- Also, they can view the contract details such as rent, date and time, location(property), and tenant.
- View tenant
- The landlord can view details of tenants who have applied to rent the property.
- Transaction History
- They can view all the rent transaction history.
- Rating
- Landlord can give the rating with feedback about the tenant.
- Logout
- The landlord can log out from the system after finishing their work.
- TENANT
- Register
- The tenant can register to the system for renting property.
- Login
- Login to the system using login credentials.
- Home
- The Home Page is the main page of the tenant module.
- Property Details
- The tenant can view the list of available properties with details and rent amount.
- They can also send a notification to the landlord to rent the specific property.
- Can filter property by amount range and location.
- Contract details
- The confirmation of renting property details and deposit details.
- The contract includes the details such as rent, date and time, location, and landlord details.
- Pay Rent
- The tenant can make payments for rent.
- Transaction History
- They can view all the rent transaction history.
- Rating
- Tenant can give the rating with feedback about the landlord.
- Logout
- The landlord can log out from the system after finishing their work
- Project Life Cycle
The waterfall model is a classical model used in the system development life cycle to create a system with a linear and sequential approach. It is termed a waterfall because the model develops systematically from one phase to another in a downward fashion. The waterfall approach does not define the process to go back to the previous phase to handle changes in requirements. The waterfall approach is the earliest approach that was used for software development.
- System Requirements
- Hardware Requirement
- Laptop or PC
- Windows 7 or higher
- I3 processor system or higher
- 4 GB RAM or higher
- 100 GB ROM or higher
- Software Requirement
- Laptop or PC
- Visual Studio 2019
- SQL Server Management Studio’s latest
- Limitation/Disadvantages
- As the admin manually adds the cirrus core wallet details of the landlord and the customer, all the details need to be checked properly, or else it will lead to an error.
- Application – This application helps to ease and manage rental properties to make a secure transaction using smart contracts.
- Reference
- https://www.scitepress.org/Papers/2019/80972/80972.pdf
- https://www.researchgate.net/publication/352803509_Housing_rental_system_based_on_blockchain_Technology
- https://iopscience.iop.org/article/10.1088/1742-6596/1948/1/012058/pdf
- https://www.isroset.org/pub_paper/IJSRCSE/1-IJSRCSE-02773.pdf