Do you think that the rent is damn high? Well, in many parts of US the price of rental properties is growing. And it will be growing further: the rate of the US homeownership is on decline and in 2015 fifty two out of 100 largest US cities were majority-renter.
Millennials are leaving their parents’ houses and push rental prices up. The mortgage crisis of 2007 – 2008 was the game-changer on this market. Young people can’t afford to buy accommodation: three in four millennials rent rather than own.
But there is no need for despair. Rentberry will help find a rented apartment, negotiate the price and pay for it just in one click. It also plans to save tenants a lot of money.
Rentberry is a blockchain-based startup that allows tenants to bid, eBay style, on the rent. Landlords set a preferred rent and prospective tenants then bid below that figure to see if they can get a good deal. The landlords will see not only the bids, but also a lot of information about applicants, including their credit scores.
Winning bidders would sign the rental agreement through Rentberry. Rent will be paid also online and Rentberry’s platform will help tenants to stay connected with their landlords. All this can be done, for example, while queuing for groceries, waiting for one’s dentist or nail specialist or being stuck in a traffic jam.
Rentberry is available in about 5,000 cities across the US. It has over 224,000 listed properties and has processed more than 4,000 applications already. Rentberry’s services are transparent and easy to use both for tenants and landlords.
Rentberry is a booming business. It has already received business offers from Australia, New Zealand, the UK, Cyprus and Canada to franchise or establish a partnership. It raised $4 million in two seed rounds. Among those who believe in Rentberry’s prospects are investors from a dozen countries, including Zing Capital, 808 Ventures, Beechwood, Ventures, and others.
By the company’s estimates, in 2018 it will have 1 million listed properties and expand in Canada and several Asian and European countries. According to the UN most recent data, there are more than 244 million migrants living worldwide. Many of those people could become in future Rentberry’s prospective clients. That is why by 2020, the company intends to go globally.
Rentberry plans to expand internationally by partnering with other companies in the real estate space, acquiring competitors, and doing extensive marketing. The marketing channels include traditional media and social media channels (Twitter, Facebook, Instagram), influencer marketing and word of mouth.
To increase transaction volumes and expand in new cities and countries, Rentberry has launched ICO process. It will offer to investor Rentberry tokens (BERRY) at the exchange rate 1 ETH = 2,500 BERRY. The minimum purchase amount is 250 BERRY (0.1 ETH).
The sale starts on December, 5 and ends on February, 28. For “early birds” there will be a bonus: 33 percent on Dec 5 – 19; 27 percent on Dec 20 – 26; 20 percent on Dec 27 – Jan 16; 13 percent on Jan 17 – 26, and 7 percent on Jan 31 – Feb 13. The company will accept ETH and BTC.
There will also be bonuses for big purchases, but they will be discussed individually with potential buyers.
Seventy percent of BERRY tokens will be allocated to the sale, twenty percent of Tokens will be retained by Rentberry for gifts and bonuses for landlords and tenants for taking certain actions or reaching certain milestones, ten percent will be distributed to Rentberry’s founders, employees and early investors as an incentive to ensure long-term alignment of interests and commitment to the tokens and their future value.
The proceeds from the sale of BERRY tokens will be allocated to IT development (30%), to marketing and sales (20%), to acquisitions and partnerships (15%), to international expansion (12.5%), to administrative and operational activity (10%), to development fund (5%), to legal expenses (5%) and to Bug Bounty program (2.5%).