This startup gives renters a financial stake in their apartments

The average young person will spend more than $200,000 on rent, without the benefits of owning property. Now, Rhove reimagines renters as stakeholders to help them build wealth.

When someone rents an apartment in a new complex in Columbus, Ohio, they can now also get a financial stake in the building. The property is the first to partner with Rhove, a startup that wants to help shrink the wealth gap between renters and homeowners by offering “rentership,” an asset that grows with the value of the property.

“We’re creating a new situation where every renter is a stakeholder,” says Rhove cofounder Calvin Cooper. “Everybody living at the property is going to be granted a financial stake in the building, and they’ll be able to buy more on their own terms. So what we’re creating is a situation where renters are given many of the financial benefits of ownership while maintaining the flexibility of renting.”....
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RSK: I like the idea and hope it expands....it is true that many people have no wealth or ability to pass down to family so they are always on the edge of day to day living. This might give them some opportunity to do so and reduce the gap...it is a start. Rentership...remember that phrase.



- - Volume: 8 - WEEK: 28 Date: 7/7/2020 9:18:57 AM -