This New Prague Startup Will Help Tenants to Split Rent Payments

In Prague, the development of another young technological firm opens. This time it is the American startup Zenbase, based in New York, but development will be built in the Czech Republic.

Zenbase helps users with custom rent and payment schedules making payments more manageable. Based on customer’s previous income, the technology calculates the best time for users to make their rent payments and then lets them customize according to their needs. 

In the US only, around 10 million households fail to pay rent on time each month, resulting in high late payment fees and potentially a debt spiral. Splitting rent into multiple installments based on paydays will simplify household cash management during the month.

Tomáš Řehoř, who holds the function of Vice President for Engineering said to Prague Morning: “I’m in charge to build a team of about ten people, and follow the complete development”. The first position of Senior Developer is already open.

Zenbase uses technologies as Node.js, React, Typescript or PostgreSQL. The office is located in the coworking Hubhub.

ZenBase got a seed investment of $3.1 million. In the event of further investments, Prague’s growth will be calculated.

Residential rents increased by 3.8 percent quarter on quarter 

Rents at the end of the third quarter of 2021 in flats in Prague and regional cities rose by an average of 3.8 percent quarter on quarter to CZK 247 per square meter per month.

The most expensive was Prague with CZK 293, the cheapest was Ústí nad Labem with an average rent of CZK 175 per square meter. This follows from the data of the consulting company Deloitte, which collects data from real estate portals for the calculation.

Behind Prague, the highest rents were in Brno (CZK 278 per square meter), Zlín (CZK 242) and Hradec Králové (CZK 231). On the other hand, Ostrava (CZK 176), Karlovy Vary (CZK 178) and České Budějovice (CZK 205) were the cheapest after Ústí nad Labem. Deloitte monitors the prices of flats sold in regional cities. 

Rents in the third quarter of the quarter grew in all parts of Prague. Most in Prague 2 (by 9.3 percent), in Prague 5 (by 7.2 percent) and in Prague 1 (by 6.3 percent). But year-on-year rents fell in almost all of Prague, by an average of 2.3 percent.

It fell the most by 5.9 percent in Prague 10 and 3.9 percent in Prague 9. In contrast, in Prague 1 it increased by 5.9 percent year on year.