|Creation Date||Q2 2018|
Introduction to Rentberry
Rentberry is an online renting platform, which is active since 2015. You can see what it looks like via their site at https://rentberry.com/. It already has over 225,000 properties listed and covers nearly 5,000 cities in the United States. So far, more than 4,000 properties have been successfully rented via the Rentberry platform. At the moment, the platform only supports Fiat currencies, but when the new platform launches, it will have additional features and support its own crypto-token, BERRY. The goal of the service will still be the same (renting properties) but everything will be done in BERRY tokens. The new platform is expected to launch in Q3 2018.
What is Rentberry? How can you rent a property with it?
Rentberry is an online portal for renting a property. Landlords list their properties, set a price, and accept applications over the portal. When the platform is fully live and the BERRY tokens become active, this is how the Rentberry platform will work:
- There will be two types of membership: Landlords and tenants.
- Landlords will list their properties and set their own price. Listing a property will cost BERRY tokens, but the exact amount hasn’t yet been specified.
- Tenants are able to send an offer for listed properties. This process is similar to a bidding system. Tenants are free to offer lower, or higher, then than the landlord’s asking price for both the monthly rental and the deposit amount, with the landlord being free to choose which offer, if any, to accept. Each rental offer (application) will cost 1,000 BERRY tokens (roughly $30 as of June 2018). Even though this is lower than most conventional agents’ fees for renting property, with traditional rental agents, in most cases a fee is only paid if the offer is accepted. The Rentberry fee seems relatively high for a new platform where tenants aren’t able to deal directly with human agents for help etc.
- Tenants will upload their credit score and the necessary documents for renting a property to the platform. Landlords will be able to see the score & documents of the applicants before making a decision.
- If the application is rejected, the tenant will be fully refunded. If it is accepted, 950 BERRY tokens will be sent to the landlord as an initial payment and the rental contract will start. The remaining 50 BERRY tokens form the fee for the Rentberry platform.
- The Rentberry platform supports HelloSign technology. This allows parties to sign rental documents electronically and online. In short, landlords and tenants will be able to “sign” the contract over the Rentberry platform.
Once the tenancy has started, the following features will be available:
- The rent payments will be done over the Rentberry platform, in BERRY tokens.
- Tenants will be able to pay their utility bills and access third-party services (such as calling a plumber) via the Rentberry platform.
- Tenants will be able to report the problems about the property (such as a leaking roof) via the Rentberry platform.
- There will be a review scoring system for landlords and tenants. Both landlords and tenants will be able to score each other and leave comments.
What are BERRY tokens used for? Is there any value to holding them?
BERRY tokens are used for five things:
- Paying the rent
- Listing a property
- Sending an application to a listed property
- Paying the service fee of a third party (i.e. plumber, locksmith, etc. – only if the third party supports this)
- Paying utility bills of the rented property.
It is clear the BERRY tokens have some real world use on the Rentberry platform, and it may well be, that if there is enough demand for the site and enough rental contracts taken up, that there will be a continuous demand on the tokens, as tenants will have to either buy enough at the start of their contract to pay their years rent, or buy tokens every month to pay their rent. This could potentially really work for people who have made crypto profits, but who don’t have an alternative fiat income.
The only other additional benefit is market speculation.
The Rentberry Team
Alex Lubinsky, the CEO and the founder, was a former senior consultant at Deloitte. He also worked at BIC Securities and founded CityHour, a mobile application to create face-to-face meetings between business professionals. He founded Rentberry in May 2015. Almost all of the 22 other team members are from Russia.
Rentberry have accounts on multiple social media platforms, such as Telegram, Reddit, Medium, and BitcoinTalk and are fairly active at all. In addition, the developer team constantly organizes real world events to meet with potential investors and users. Most of these events are located in the United States, but the team will also visit other countries too, such as London, Moscow, and Madrid. In terms of communication, they are pretty active and transparent. The Rentberry ICO was fairly well promoted and hyped and was very well regarded when it came out in 2017.
|Block Time / Transaction Fee||None|
|Current Value (Total)||$ 9,698,408|
|Can Be Traded In||HitBTC, IDEX, D-DEX|
|Can It Be Used in Real World?||Yes|
- Q3 2018: Integration of BERRY tokens to the Rentberry platform
- Q1 2019: Landlord and Tenants Scores system becomes active
- Q2 2019: Third-party providers support (For example, tenants will be able to call a plumber via the Rentberry platform)
- Q3 2019: International expansion to Europe and Asia
- Q1 2020: Smart-lock technology (The tenants will be able to unlock the houses via the platform for a period of time to view them)
- Q2 2020: Online utility bills (The tenants will be able to pay their utility bills via the Rentberry platform)