In this section, we will implement and deploy a smart contract for a real-world rental property leasing use case.
The business process for a rental property being leased starts with the landlord creating a rental property listing and allowing the tenants to apply and sign the leasing agreement. Once the tenant moves in, they have to pay monthly rent to the landlord, and once the lease term is due, the lease is terminated. If the tenant misses a rent payment, the landlord has the option to start an eviction, and if the tenant terminates the lease early, they have to pay the early termination penalty.
The following is the high-level diagram of our rental property lease contract:
As we explained ...