Tenants will be able to negotiate rental offers based on competition and rent at a fair market price.
Over 2 billion people are currently living in long-term rentals and it is this growing trend that helped Rentberry recognize that millions of dollars spent on rental security deposits are frozen, which carries no internationally recognized insurance as protection. Renters will be able to seek out lenders for assistance to reduce payable security deposits on a blockchain focused platform. In return, Rentberry participants can choose to help cover a portion of the outstanding rental security deposit balance in exchange for lending interest rewards, thus unlocking millions of dollars and reducing the financial burden for tenants. Rentberry lenders will profit from this new system, but so will tenants. Not only could tenants save $1800 on average upon renting but this could contribute to a decade or so of compounding interest asset gains for the tenants that would conventionally have been redistributed within holding banks. By creating a fully decentralized rental experience for landlords and tenants alike, Rentberry aims to offer several advantages including an open and transparent application process, a crowdsourced security deposit network, instant rent payments and an international scoring system for tenants and landlords. Each renter will receive a rating based on their past financial behaviour. Rentberry will help match renters to lenders so that the renter will pay the lender a fixed amount with interest over a fixed period of time, instead of having to make the hefty upfront security deposit payment in full to the landlord. So instead of paying $2,000 in a security deposit for a rental, the renter is paying $7 per month for a fixed period.â - Lubinsky, Rentberry CEO.
Expats and migrants will benefit from an international standard of rental procedures as they move to live and work in new countries, and landlords can take confidence from the scoring system.
By enabling landlords and tenants to complete basic rental tasks online in a peer to peer manner, both parties can avoid cumulative agent fees. Rental tasks could include:
All payments on the rental platform will be made in BERRY tokens. The tenant's personal information will be privately and securely stored on the blockchain and will not be made visible to the landlord until the tenant makes a rental application using their private key/wallet on their Rentberry app.
*Please understand that the information on this site does not constitute financial advice in any way.
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