In recent years renting has become a trend to the tune of 41% in American, 55.5% in Swiss, and 39.9% in Germany, the countries with major share amongst lot of others. As, of 2016, there are 641 million rental units worldwide with close to 2.3 billion people living in rentals.. Apart from this, a Harvard University study, points that long-term rental behavior has increased among all income groups, age groups, and household types.
What all this points to? A need for change in already outdated renting procedures and methods aimed at making the process fast, efficient and budget friendly.
Here is where Rentberry enters into the picture.
Welcome to Rentberry
Founded in 2015 Rentberry is on a positive trajectory in the long-term rental platform space. We already have more than 120,000 users and 224,000 properties on our platform and have raised $4 million in funds from highly respected angel and institutional investors. With a wide reach in around 4,968 cities worldwide, they are headquartered in San Francisco, California and the team consists of 23 people who work in making Rentberry platform more awesome! They have already processed close to 4,000+ applications. Unlike many blockchain startups, we already have an established business which goes beyond a vision and a road-map.
With Rentberry rental applications submissions, bidding chaos, crazy negotiations, lack of transparency, insane security deposits are going to be eliminated from the scene of Real estate.
Before continuing any further let me explain few terms for you and how are these placed.
Blockchain
Blockchain necessarily is a network of computers that act as a ‘digital ledger’ that anyone on the network can see. For a transaction to be marked as complete all these computers should mark the transaction as approved. The records are publicly viewable by anyone who is a part of this network which eliminates any chance of a fraud.
Smart Contracts
gone are the days when a person had to go to notary, pay them and then wait to receive a contract which was made manually. With the advent of smart contracts, all you need to do is provide token and document and poof your smart contract is ready before you can think about it.
Cryptocurrency
are digital currencies that are used for money transfers independent of any third parties, including banks. The encryption techniques are used in order to verify the transfer of funds, which makes the procedure significantly safer, cheaper, and faster.
Real Estate + Blockchain
The benefits of integrating Real estate on Blockchain are manifold. Some of the major benefits are discussed below:
Reduced costs
These are achieved when the meddling cost for middlemen are eliminated as Smart contracts along with blockchain are executed automatically when certain conditions in a rental agreement are met.
Fraud resistant
Gone are the days of ‘fake listings’ online, with ‘digital ownership certificates’ which are impossible to duplicate, scamming in real estate is a thing of past.
Transparency
All the records of possible tenants and landlords is accessible and readily available for everyone on the Blockchain to see. This brings in transparency and induce confidence in the users while striking a deal.
Benefits
Rentberry’s platform benefits landlords and tenants as follows:
Landlords:
Listing Marketing & Syndication — Landlords with the use of BERRY tokens will be able to post their property on rentberry.com and/or syndicate to additional rental sites for wide reach and visibility. They will be able to decide on the rental and provide detailed information of the property.
Rental Price Auction — With a single click landlords will be able to reject tenant’s application at any time. Rentberry’s auctioning technology will help ensure that landlords are able to:
- Reduce vacancy rates by seamlessly addressing pricing in depressed market conditions;
- Capitalize on hot markets by extracting the most value from their properties;
- Select tenants based on data points
Tenants:
Focused Property Search — Using the filters tenants will be able to see detailed information about a property including:
- Seamless searches for properties in the desired area using extensive filtering capability
- Online scheduling of open-house visits in order to see the properties and meet the Landlords
- An internal and secure communication system that allows potential tenants to contact landlords without bothering them with phone calls and/or emails.
Transparent Application Process – A bad or not so good credit reports won’t result into application denial or large security deposit. Tenants are able to submit applications online without bothering landlords and mailing/emailing confidential information. During this process, tenants are able to:
- Analyze demand for the property and relevant information in offers submitted by other applicants
- Customize offers in real-time based on demand thus increasing the chances of securing the property using our proprietary auctioning technology;
- Negotiate pricing factors (e.g., rent, security deposits, and lease duration).
Crowdsourced Security Deposit Coverage —
This gives ability to the Rentberry community (tenants, landlords, friends, family or even Rentberry itself) to lend/contribute towards security deposit of the prospective tenant and get paid back in forms on BERRY tokens. This will allow qualified tenants, who might not be having enough money to deposit as security to get their dream house and good credit score to the lending party.
Rental Contract Execution
a super-fast and efficient way of executing a contract is using smart contracts. Tenants can use this to execute a legal contract and store this on the Blockchain network.
Maintenance Requests
Maintenance service requests are easily submitted by tenants after the property is rented. All the information is stored on Rentberry Blockchain platform and thus eliminates any claims by landlords that tenants failed to report about maintenance service promptly.
Security of Tenant Information
all the data of Tenant is safely stored on the Blockchain and is viewable by the landlord only when a Tenant chooses so.
You pass, you fail! — The Rentberry Scoring Methodology
With passing time, the Rentberry system will allow landlords and tenants to rate each other by providing reviews. Apart from this, the rental activity of both tenants and landlords will be saved and hence viewable on Blockchain. All this, along with data that is available publicly will be processed and analyzed by Rentberry’s proprietary scoring technology and will be used to score both tenants and landlords.
Closing Thoughts
According to projections by the Urban Institute, as many as 59% of new households to be formed by 2030 will be renting homes instead of buying them and thus Renting has/will become the new norm which will continue to grow at a large pace. Rentberry plans to expand its reach in far flung countries and increase its global imprint.
I think with an already established platform, excellent team and a solid vision the road ahead definitely looks promising for Rentberry.
BERRY Token allocation:
30% IT Development 20% Marketing and Sales 15% Acquisitions and Partnerships 12.5% International Expansion 10% Admin and Operations 5% Development Fund 5% Legal
2.5% Bug Bounty Program
Token Sale Structure:
• Instrument: BERRY;
• Hard Cap: Equivalent of $30 million USD;
• Soft Cap (Minimum Raise): If less than the equivalent of $3 million USD in proceeds have been received by the Token Sale End Date (the “Minimum Raise”), then all funds raised will be returned to participants (less any applicable transaction costs). Any refunds due to failure to meet the Minimum Raise will be refunded within a reasonable period of time from the end the Token Sale End Date
• Total Supply: Initially 400 million BERRY tokens are allocated to the Token Sale. The final amount will depend on the bonuses that would be applied to the token sale. All unsold tokens will be burned.
More information & technical details can be found below:
Website: https://rentberry.cryptonomos.com/
My profiel link: https://bitcointalk.org/index.php?action=profile;u=1110718
ETH Address: 0xB5fAce1cdD8D68803F9d835e0C17035C44762d5c
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