For an economically cohesive and vibrant sustainable urban development, equitable transparency and socioeconomic responsibility bear as much importance as ecological and environmental responsibility. In Bangladesh, where about 90 percent of the population in the capital are renters, there exists information asymmetry, lack of documentation, trust, and accountability on both ends, the renters and the tenant. These elements bring forth financial discrepancies, inefficient property utilization, and ultimately, instability between tenant-landlord relations. Furthermore, inefficient usage of data of these entities affects other institutions like banks/creditors and market overseers in the long term. Hence, this paper introduces a model named Transparency-Oriented Digital Rental Ecosystem (T-ODRE Model). It is a digital platform infused to formalize and optimize the rental-tenant process through traceability and transparency. The model integrates verified digital identities for both landlords and tenants, automated rent payment and receipt systems, and historical record tracking to ensure accountability and long-term trust. Upon gathering that information, it addresses stakeholders like the renter and tenant, the overseer Ministry, and the financial system, bank/creditors, by creating a financial portfolio of individuals and their periodical payment habits. With the minimization of information asymmetry in the market for all stakeholders, and enabling data-driven decision-making, T-ODRE contributes to the Sustainable Development Goals (SDGs) related to sustainable cities (SDG 11), reduced inequalities (SDG 10), and decent work and economic growth (SDG).
Keywords
Sustainable Digital Systems, Transparency, Rental Ecosystem, Information Asymmetry, Creditors, Bangladesh.