Immomio launches the first legally compliant digital signature for tenancy agreements

Hamburg, 9 June 2020: Hamburg-based Immomio GmbH, the leading proptech for digital letting, is expanding its product portfolio with a digital signature for tenancy agreements. It is the first legally compliant digital signature of a tenancy agreement that also stands up in court. Immomio is thus closing one of the last digital gaps in the processes of modern landlords and property managers.

Since 2015, the Hamburg-based company has pursued the vision of making the letting process simple, fast and stress-free for landlords and tenants. With its digital letting solution of the same name, the proptech supports the housing industry in digitalising its letting processes. With the first legally compliant digital signature for tenancy agreements, Immomio is opening a new door for the industry.

A long-cherished wish

The housing industry has long wanted a legally compliant and convenient solution for signing tenancy agreements digitally. At many industry events, experts, associations and landlords discussed possible solutions. Until now, however, the legal hurdles and usability challenges could not be overcome. Immomio’s digital tenancy agreement signature solves these problems for the first time in the form of a user-friendly solution that is easy to integrate.

Advanced electronic signature

Via an interface, the Immomio signature can be integrated into any ERP software from which the contracts are sent digitally. Landlords can decide whether the tenant signs on a tablet in the office or whether the contract is sent by email. In both cases, Immomio uses an advanced electronic signature to ensure that the tenant’s signature will also stand up in any court proceedings.

Verifying the identity of the contracting parties plays a central role here. If the contract is sent by email, the signatories‘ identity is checked before signing using a real-time bank identification procedure developed together with Schufa Holding AG. This confirms the signatories‘ identity within moments before the contract is signed digitally. The signature data is stored unalterably with the document in a secure certificate and serves as digital evidence. Once all parties have signed the contract, they receive a copy and the contract is archived automatically.

Successfully in use

“For our customers, the digital tenancy agreement is the logical completion of the digital letting process. We are proud that this enables us to offer the first digital end-to-end letting process for the housing industry”, says Immomio Managing Director Nicolas Jacobi. Just a few weeks after the launch of the solution, landlords and property managers with a total of more than 200,000 residential units under management are already using Immomio’s legally compliant digital tenancy agreement.