Rentberry Review – Cryptocurrency Guide
What Is Rentberry?
Established in 2015 and headquartered in San Francisco, California, Rentberry is a long-term rental platform. Rentberry has in excess of 120,000 users and 224,000 properties on their platform and has raised $4 million through investment funding.
Rather than numerous different organizations launching token sales, Rentberry as of now has a functioning platform. It currently tries to use blockchain technology to guarantee consistent rental experience and allows for crowdsourcing to enable occupants to unfreeze a large number of dollars tied up in rental security deposits.
As a home rental service that computerizes standard rental assignments like submitting individual information to be approved for a rental to credit reports and also e-signing rental assentions and submitting online rental payments, it gives the tenant a chance to search out loan specialists for their security deposits on a blockchain focused platform.
Instead of paying $2,000 in a security deposit for a rental, the site gives a rating of every leaseholder in view of their past financial conduct. Rentberry matches the tenant to moneylenders, who in turn pays the security deposit. The tenant will at that point pay the loan specialist a settled sum including interest over a settled timeframe.
“So instead of paying $2,000 in a security deposit for a rental, the tenant is paying $7 every month for a settled period,” said Lubinsky, Rentberry CEO, who plans to grow the company in the U.S., but additionally internationally.
“We’ve officially fabricated the technology for the Canadian market. There is no set date for going live in Canada yet because right now the emphasis is on the ICO.”
Using Rentberry, landowners and inhabitants in nations over the globe will have the opportunity to appreciate a straightforward and all around applicable platform for long-term rentals. Rentberry looks to,
Eliminate the requirement for the operator/merchant model (and related costs) by allowing proprietors and occupants to finish every rental errand online in a shared way.
Set up a uniform international standard of rental methodology that will profit expats and vagrants living and working in new nations. Give a crowdsourced security deposit network that will allow occupants to lessen the measure of their own cash they require tie up in their rental security deposits.
Rentberry streamlines the long-term rental process by allowing proprietors and inhabitants to finish every rental errand at one place, for example, searching for properties, making offers, screening hopefuls, negotiating terms, unlocking security deposits, E-signing contracts, paying rent, submission of maintenance demands, hiring service suppliers and enabling landowners to remain associated with their occupants.
BERRY tokens are used via landowners to advance listings, increase reach and perceivability. All payments on the platform will be executed in BERRY tokens. An occupant’s close to home information, put away on the blockchain, might be made unmistakable to the landowner when the inhabitant makes a rental application using their private key/wallet on their mobile and additionally web app.
Crowdsourced Security Deposit Coverage
All individuals from the Rentberry community can use the platform’s BERRY tokens to contribute and help with somebody’s security deposit – up to 90% of it. If you contribute, you’ll earn 3-7% interest back in the type of more BERRY tokens.
The goal of this program is to enable quality inhabitants to anchor investment properties that they generally wouldn’t have the capacity to because of high security deposit costs.
This is an interesting feature, but it might set aside some time for users to make sense of exact interest rates. The hazard profile of each occupant relies upon their history as well as on the security deposit scope of every property. Except if this is institutionalized, it could be extreme for an ordinary user to pinpoint what a good degree of profitability ought to be.
Instead of landowner’s listing prices for their properties, occupants partake in barters for the properties they’d jump at the chance to lease. Rentberry is as of now effectively using this procedure on their present platform and intends to keep it after blockchain integration.
Once the team actualizes the blockchain, it’ll cost 1000 BERRY (~$200) to present an application to take an interest in a property’s closeout. If your offer is acknowledged, 950 tokens of your BERRY payment covers a bit of your rental cost while Rentberry gets the remaining 50 BERRY as an expense. If you don’t win the bartering, you’re refunded your whole 1000 BERRY deposit.
It’s misty whether the application expense will change as the BERRY token increases (or reductions) in esteem.
BERRY is an ERC20 token and the select payment technique on the platform. Landowners gather lease by means of BERRY tokens and can spend them on other Rentberry services like:
Property advancement and marketing
Crowdsourced security deposit investments
Outsider services (cleaners, jacks of all trades, and so forth… )
Rentberry doesn’t have a big-name, coordinate competitor, particularly in the blockchain space. Airbnb is most likely the nearest competitor but tends to concentrate more on here and now rentals. Long-term investment properties are normally promoted and overseen through nearby organizations that differ from place to put.
Rentberry is at present in just about 5,000 urban communities in America and has plans to extend internationally by 2020.
Dissimilar to numerous different ICOs, Rentberry is as of now a set up business with some significant development numbers. Established in 2015, the 23-part team has raised $4 million and had multi month-over-month dynamic user development in Q3 2017.
Alex Lubinsky, Lily Ostapchuk, and Aleksey Perfilov lead the Rentberry team. Their balanced skill covers the greater part of what you’d jump at the chance to see with an initiative team in this space. Lubinsky is a real-estate proprietor who’s beforehand sold a few fruitful businesses. Ostapchuk has involvement as a Marketing Director and Chief Product Officer and has overseen investment properties everywhere throughout the world.
The specialized team raises a couple of banners, however. Perfilov, Rentberry CTO, has plentiful involvement in programming development but may at present be working at Amazon, at any rate low maintenance, according to his LinkedIn profile. The blockchain engineers on the team additionally appear to have little blockchain encounter which might be troubling.
On the in addition to side, Rentberry has a large group of consultants including Adi Ben-Ari, the CEO of Applied Blockchain.
Rentberry has just been effectively operating for a long time boasting amazing development numbers as of late. They’ve likewise raised $4 million proving that there are other people who have faith in the team and their vision.
The team isn’t simply taking blockchain technology and applying it to a standard business model. They’re innovating on the long-term rental process and using smart contracts to help encourage it.
The team has a vast rundown of counselors that traverse a few important industries.
Absence of blockchain encounter
The development team doesn’t appear to have much experience building blockchain applications. This could prompt issues not far off.
Conceivably superfluous token
Users might not have any desire to be compelled to use the BERRY token. Except if the platform includes a simple method to “money out”, proprietors and inhabitants may change over to an app that acknowledges fiat instead.
Rentberry is bringing blockchain to long-term rentals and providing all gatherings with a one-stop rental shop. The new platform ought bring down operational expenses as well as give remarkable features like lease barters and crowdfunding for security deposits.
It’s a good sign that the company has just observed some achievement, but it’s as yet vague regardless of whether an ICO is vital. Despite the fact that the development team may need involvement with blockchain technology, the immense network of Rentberry consultants, investors, and accomplices ought to give enough help to alleviate this hazard.
The most essential factor to watch out for is in the case of existing users embrace the new platform and new rental members join Rentberry at the same noteworthy development rate.