Lumi Capital together with BTA Baltic Insurance Company sets out to revolutionize the Latvian rental market with its innovative rental deposit insurance.
At Lumi Capital, we aim to improve the quality standards of the rental market, where we operate. In Estonia, Lumi has been a pioneer in the institutional residential offering. Several others have followed our example, creating a wider institutional market. This has increased the overall transparency, clarity, and level of customer service in the residential rental market as a whole. A quality offering is a key driver that has allowed the share of the rental market in Tallinn to expand from 13% in 2011 to 23% in 2021, according to the Statistical office of Estonia.
We work hard to bring about a similar positive shift in the Latvian residential rental market. The new insurance service allows tenants to avoid paying the landlord a deposit and instead use an insurance service with monthly payments. The service is provided by BTA Baltic Insurance Company.
The service is already available in BTA rental houses and there are plans for a wider rollout of the service later on.
