Real estate apps like the one from Hawaii real estate app RentalHouse, for instance, can be quite expensive, so it’s important for those looking to rent their own space to be able to do so cheaply.
Hawaii Real Property Board President Mark Kavanagh said in a statement that Rentalhouse is currently in beta testing, but it’s a free app that lets renters and landlords rent out their spaces for $5 per month.
Renting out rooms in Hawaii is just the first step in getting to the second phase of the real estate market, Kavanah said.
He added that the company is also looking to partner with Airbnb in order to create a real estate marketplace where landlords and tenants can sell their property for more than the $5/month rent they currently charge.
Hawaii is the third state in the U.S. to allow real estate developers to sell off their properties for $10/month or less, according to The Wall Street Journal.
RentalHouse, for its part, said it plans to open its doors to all states in the next couple of months, and Kavanag said the company would also look to partner in the coming months with Airbnb to create an even better platform for renters and tenants to sell their properties.
In the meantime, if you’re interested in renting a space out for less than $5, you’ll find the Rental House website to get in touch with someone who can help you find a suitable space for you.