Want to go and live and work in a foreign city for a short period of time? Rentberry, a San Francisco-based company, is targeting you as its ideal client. Especially for remote workers whose daily routine holds a lot of Zoom (NASDAQ: ZM) calls, Salesforce (NYSE: CRM) activities, and Atlassian (NASDAQ: TEAM) powered projects, having the ability to travel and experience the globe while getting things done has become more and more attractive.
The company, which specializes in an all-digital process to help tenants and landlords have a smoother rental experience, is looking to up the game by investing some of the money it has raised so far in its Flexible Living concept.
To do that, the company, co-founded by CEO Oleksiy Lubinsky, intends to buy a number of properties worldwide that would allow people to rent for short periods of time, between 3 months and a year, in a city of their choice and in a fully furnished apartment or other property.
The movement towards remote working, exacerbated by the COVID-19 pandemic, makes this the right time to offer such a concept, says Lubinsky. That’s why he and his company are targeting mainly millennials who would be attracted by such a concept, about 22 million of them in the U.S. and a staggering 1.8 billion worldwide. Such an age group is increasingly likely to rent, tends to have fewer obligations and is more open to such possibilities.
Lubinsky says the company is looking to rent fully furnished properties for “quality tenants with no security deposits and no agent broker interactions.”
Security Deposits and Accompanying Waste a Thing of The Past
The no-security-deposit issue is a big sell for Rentberry — Lubinsky estimates a total of $87 billion is typically wrapped up and frozen in security deposits worldwide with conventional renting methods. The company’s Flexible Living project would eliminate the need for a security deposit in every transaction.
And, while the company is currently buying up its own properties for the Flexible Living project, it eventually wants to work with current homeowners and rent their properties on their behalf.
So, if you have the flexibility of being able to work remotely as well as the ability to move elsewhere for a limited period of time, Rentberry has properties for you in cities both closer to home such as New York and Los Angeles as well as more far-flung cities in Europe (Dublin, Rome or Berlin, for example) and in Asia where Hanoi and Tokyo could be on the agenda. The company also has availability in Cape Town, South Africa, and in a few South American cities.
Rentberry, after extensive legal and financial due diligence, was approved by the U.S. Securities and Exchange Commission (SEC) to conduct a crowdfunding campaign for a Reg A+ on the StartEngine platform. As of today, Rentberry successfully raised more than $15 million in total funding.
Investment is separated into 4 distinct tiers with a minimum investment in Tier 1, for example, in a $500 to $999 range. This structure includes 5% bonus shares, a 10% discount on rentals and free rental applications for life. If you invest $10,000 or more in the Tier 4 highest level, bonus shares increase to 20% with a 30% discount on rentals. Check out startengine.com/rentberry to invest.
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