Rentberry (BERRY) Review – Rentberry ICO Rating and Details.

Fully operational long-term rental platform. It leverages blockchain technology to ensure seamless rental experience and allows for crowdsourcing to help tenants unfreeze millions of dollars tied up in rental security deposits.

Ticker:
BERRY

Token type:
ERC20

ICO Token Price:
1 BERRY = 0.33 USD (0.00040 ETH)

Fundraising Goal:
30,000,000 USD

Sold on pre-sale:
4,000,000 USD (SEED ROUND,
NOT RELATED TO ICO)

Total Tokens:
400,000,000

Available for Token Sale:
70%

 

What is Rentberry?

Rentberry is a platform for allowing renters and owners to establish long-term rental agreements through one location. All the standard tasks and paper work that needs to be completed to establish an agreed upon price, submit personal information, perform credit checks, and even sign rental agreements can be done through the service, therefore taking away a need for middlemen and the fees that come with them.

Furthermore, the platform also aims to help decentralize housing by establishing pools of potential homes that can be rented. This lets those looking for housing compare prices easily, and because the middle man is eliminated the overall price of the housing can see a significant decline.

The program has been around since 2015, but the current Rentberry IPO is seeking to grow the platform and offer more transparency for users. Plans include allowing the renters to make customizable offers based on what the competition is offering and how high the demand is for the property in general. Additionally, it establishes an easily viewable tenant score based on personal information and rental history.

How Does Rentberry Work?

Rentberry essentially allows users to create a profile, whether they are tenants or landlords, that packages all their relevant information together so that it is already processed and easily viewable by certain others. By offering a platform that allows the user to skip having to deal with rental services they will potentially save significant amounts of time and headaches while also keeping fees lowered.

The site for Rentberry is basic but appealing, with a simple search bar that allows you to type in where you want to live and gives you the best options available. This is basically the same approach as other housing services. Each potential property offers a monthly rent from landlords along with their security deposits. However, these prices are not set in stone as tenants can make their own offers based on a property and landlords will be able to pick the one they feel is the best fit. Price negotiation is a key innovation that is not offered by a majority of housing services and is key in decentralizing housing as a whole.

The rental auction is completely transparent, so everyone knows what they are bidding against and where their offers stands. They also are looking to develop an easy to follow scoring system that assigns both landlords and tenants a score, much like a credit score, based on several different areas of personal information. Among the categories that are considered are reviews from tenants, maintenance, communication ratings, payment history, and credit score.

Features and Benefits of Rentberry

The platform offers several different features and benefits for both tenants and landlords. Currently on the platform tenants can do things such as pay rent, sign rental agreements, and request maintenance. It also provides tenants with more knowledge regarding their likelihood of getting the apartment by indicating how many other people are interested and who has the highest offer. Tenants can also adjust and submit all their offers along with personal information needed to move the deal along.

Landlords are able to upload their properties along with all the necessary detail and what they want to share about their property. Several established listing partners are offered through the platform that can get the property more attention to fill it faster. Perhaps most importantly, landlords can view necessary information about the potential tenants, such as what they are offering to pay, their credit score, and basic personal information.

The properties are also presented via city with several locations throughout the country mostly in large to medium sized cities.

The Rentberry Coin Offering

The token sale for Rentberry is live as of this writing. The site has a running clock that states there is about three weeks left for the coin offering. Rentberry has stated that they are planning to utilize the money they raise from the coin sale to institute new features onto the platform and grow internationally.

A coin is referred to as a BERRY and they are sold at a rate of 2,500 BERRY for 1 ETH. The maximum that they are looking to raise currently is $30 million and have already far surpassed their minimum of $3 million.

During the sale they have offered the use of bonuses to with bigger bonuses going to those who have bought in early.

Who’s Behind Rentberry?

As mentioned earlier, the platform was launched initially in 2015, and Rentberry company is based out of San Francisco, CA. Alex Lubinsky is the CEO. Lubinsky went to school at UC Berkeley and has worked in investment banking as an executive prior to this. It is stated that his the one primarily responsible for forming and cultivating the view of the company.

In the CPO position is Lily Ostapchuk, who was educated at Columbia University. Her background is in managing and renting properties, in multiple countries at one time. She also describes herself as a product launch and marketing expert.

Although it is made clear from a team photograph there are several more employees, the only other listed position is Aleksey Perfilov who is the CTO and went to Stanford University. It’s stated that he has 15 years of experience as coder and full stack engineer and has worked with several high-profile companies such as Amazon and Hi5.

Conclusion

There are some areas of Rentberry that are appealing, and it seems to have certainly some growth potential as decentralization becomes more popular in all facets of life. Making the whole process of renting an apartment without having to deal with rental agencies does sound like it will be far simpler and less stressful. Affordable housing is a giant issue is metropolitan areas across the country, and this attempts to address it in some manor, though the long-term effects can be debated.

The planned move to go international, primarily through Europe is exciting and it seems as though their coin sale has been going well based on the figures they are providing. That said, screening all the new potential landlords and especially the tenants and doing it quickly and responsibly is a very big job and takes on some potential risks that have been associated with other rental platforms such as Air B&B.

If the growth numbers they have presented on the site are to be believed, then it seems difficult to see the team they have now being able to handle the workload. The upcoming transition by the platform will go a long way to determining whether it is a viable ICO.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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