Fintech corporations Homerun Corporation said on the 21st that it will expand its monthly rent card payment service "Homerun Pay" into an artificial intelligence (AI)-based lease risk management platform that goes beyond rent payments.
Homerun Pay is a service in which, when a tenant pays monthly rent with a credit card, the landlord receives the rent via account transfer. Even if the landlord does not install a separate application (app) or sign up for the service, the landlord can use it after review by simply registering the lease contract and payment information.
Until now, tenants often had to pay monthly rent by account transfer or in cash, so even if they had temporary cash-flow issues, it was difficult to use card payments or installments. Homerun Pay resolves this inconvenience and has the advantage of allowing rent payment records to be managed more clearly through card usage history.
Homerun Corporation plans to expand Homerun Pay's functions into a comprehensive platform that analyzes lease risk, beyond a simple rent payment platform. It was recently selected for TIPS, a technology startup support program by the Ministry of SMEs and Startups, and is developing AI-based lease risk analysis technology. Its core function is to analyze lease contracts and real estate-related public data to identify contractual risk factors and provide responses suited to each situation.
Going forward, it also plans to add a function that analyzes address-based real estate information such as real estate registration certificates and building ledgers, in addition to lease contracts. It is expected to help tenants more easily check rights relationships, building uses, senior rights, and special contract terms that are easy to miss during the contracting process.
It will also strengthen features for small business owners. The company plans to develop a service that analyzes risk factors in the process of signing commercial lease contracts and allows users to check in advance issues that may arise in the business sites lease process, such as contract renewals, deposit protection, restoration to original condition, and recovery of key money.
Chief Executive Jeong Gyuin of Homerun Corporation said, "Monthly rent is one of the largest fixed costs that occurs every month for both individuals and small business owners, but payment and contract management are still centered on account transfers and paper documents," and added, "We will develop Homerun Pay not as a simple monthly rent card payment service, but as an AI proptech platform that manages tenants' cash flow and lease risks together."
Jeong added, "In particular, our goal is to help small business owners easily understand complex commercial lease contracts and prevent losses that may occur during contracts and business sites operations."