The company specializing in the comprehensive management of residential rentals Vivara, part of GCO Ventures—the venture capital arm of the GCO insurance group—has launched a lease contract reviewer, which allows tenants and landlords to detect errors and hidden risks in a lease agreement.
The Vivara Lease Contract Reviewer is a free tool that the company makes available to all parties – tenants, landlords, and real estate agents – with the aim of resolving doubts, avoiding mistakes, and, ultimately, bringing security and professionalism to the rental process.
In Spain, 90% of rental housing belongs to private landlords with a single rental property, without a formal corporate structure behind them and with little room to absorb an error, while the tenant, for their part, almost never has a way to know if what they are about to sign is correct and reflects what the law provides.
The operation of the Reviewer is very simple. Starting from 24 questions, it detects in just three minutes the missing clauses, the ones that are poorly drafted and the hidden risks, as well as what deposit can be demanded of the tenant or with what index the rent will be updated. It then presents the user with a report containing recommendations to correct the detected errors, which can be downloaded.
Unlike generalist AI tools, Vivara’s Lease Contract Reviewer takes into account the specifics and regulatory changes of each Autonomous Community and does not capture the personal data of the parties nor upload it to any server; instead, it performs the analysis in the user’s browser.
In the words of Llàtzer Puigpelat, Chief Revenue Officer of Vivara, “a generalist artificial intelligence is a good starting point, but it is not the right instrument to validate a lease. Our Reviewer offers deterministic answers –not probabilistic– and its own updated legal criteria. Moreover, it is the same tool and the same criterion, for both the landlord and the tenant who signs.”
“At Vivara we believe that a fairer rental market—more professional and human—begins when everyone has access to the same information. That is why our tools are free and open to everyone: putting useful information within reach of people is also a way to improve the market,” says Llàtzer Puigpelat.
