FAQs.

Everyone should have the access and opportunity to own in their community. Rentership (renter ownership) turns every renter into a stakeholder, providing a way for you to get a return for the money and time that you contribute to your home.

Rentership is a way for renters to own a stake in their apartment. Being a stakeholder in your apartment gives you the opportunity to save and earn financial value from your property, without the additional hassle or long term commitment of homeownership.

Renters living at participating apartments can purchase Rentership units (RNT). Each RNT represents an economic stake in your apartment building. When the value of your apartment changes, so does the value of your RNT. In addition to participating in the value of your apartment, owning RNT entitles you to quarterly payments (RNT Returns).

When you purchase RNT, you are purchasing a contractual right to economic benefits tied to rents collected by your apartment building. The economic stake is a fully transferable rebate on rent the property has collected and is owed to RNT stakeholders when the property is sold. You are also locking in a pre-determined annual rate on RNT Returns which will be paid to you quarterly until you sell your RNT.

If you buy $1,000 in RNT while living at a property that has an initial Rentership valuation of $10,000,000, then you would own a 0.01% stake in the sale value of the apartment building. If the property sold two years later for $12,000,000, then your 0.01% stake would be worth $1,200 and you would receive $1,200 at the time of sale. 

Additionally, you would have received $50 in RNT Returns every year until the property was sold just for holding RNT. 

In this example, you would have paid $1,000 for RNT and two years later you would have received $1,300 in total RNT Returns and distributions for holding RNT until the property was sold.

You can continue to hold your RNT even if you move out of the property. You’ll receive RNT Returns as long as you hold RNT, and will participate in the value of the property even if you move out. This means that if the property is sold, your RNT will be retired and you will receive a cash payout for your economic stake in the sale value.

You would still receive at least the initial value of RNT. Property owners are required to buy RNT back from stakeholders at their initial Rentership valuation, even if the property is sold for less than the initial Rentership valuation.

Yes, in rare situations. If a property is in default or goes into foreclosure, it is possible that you could receive an amount less than what you paid for RNT and as little as zero dollars. In this case, the property may not be able to repurchase RNT. However, this is unlikely because the minimum payout required by your property owner is at least the initial face value of RNT, even if the property sells at a loss. Also, the payment to RNT stakeholders must be made before payments to the property owners in the event that a property is sold.

Download the Rhove app and create an account. If your apartment offers Rentership, you'll be able to buy RNT straight from the account dashboard. With the click of a few buttons you can become a stakeholder in your apartment.

If Rentership is not available in the property that you live in, you can search for an apartment using our web or mobile listings. If we’re not available in your area, introduce us to your property manager and we’ll do our best to bring Rentership to your community.

Your primary residence must be at a participating Ohio apartment community with a current lease and possess a valid State of Ohio issued identification card. This information, in addition to other personal information, is collected securely via Rhove’s mobile application.

No. There is no credit check required before you can purchase RNT. Participating apartments may require credit checks as part of the lease application.

No, Rentership is not Rent-to-Own (R2O). Rentership gives you maximum flexibility. You automatically get a stake when living at a property offering Rentership and can buy more on your own terms, in $1 increments. You earn cash distributions every year that you own with Rentership and can sell your stake at any time. R2O typically adds an extra fee to base rent that can be applied towards purchasing that property or condo in the future. With R2O you do not receive cash distributions. Additionally, with R2O you typically need to purchase the property in full with a traditional mortgage to receive any value.

The value of RNT is set by Rhove using a third party appraisal of the property. The price will be communicated to you at the time of purchase. The value of RNT may change from time to time based on new information, such as a new third party appraisal of the property. The valuation methodology will be disclosed to you if there is a change in the value of your RNT. However, it should be noted that valuations are independent estimates of value. Ultimately, the market will set the value of your property, and therefore RNT, if your property is sold.

You can sell your RNT at any time using the Rhove app.

Yes, there are transaction fees when you buy and sell RNT. Transaction fees are $0.99 or 1.99%, whichever is greater. Rhove also charges property owners for administering the program.

Since the value of your RNT is tied to the value of your apartment building, anything you do to make the property more valuable helps make your RNT more valuable. Taking good care of your community, referring other renters to live in the building, and encouraging longer term tenancy are all examples of things that make your community more valuable.

No. There are no upfront costs or downpayments needed to participate in Rentership. The minimum purchase per transaction is just $5. We are creating more access for renters to become stakeholders in their communities by lowering the barriers of entry so that everyone can participate.

Transaction fees support Rhove’s ability to facilitate Rentership and make this available to you. The administration fee charged to owners on all outstanding RNT supports Rhove’s ability to track, collect and process quarterly distributions without additional charges to renters for that service. 

Our goal is to provide you with as much value as possible while enhancing our ability to bring Rentershp to as many renters as possible. We do our best to eliminate fees where possible. In fact, many of our other features are free to renters, such as the Savings Match and Closing Credits.

Yes, if necessary. At the end of every year, you will receive a consolidated Form 1099 to assist you if you need to report income earned from holding, buying or selling RNT. 

By downloading Rhove’s app, eligible renters living at partner properties will receive a monthly savings match from the property owner, equal to 2.5% of their rent value, subject to qualifying lease and renewal per the Rent to Earn Agreement.

Example:
$1,000 monthly rent
$25 property owner monthly match
$25 renter monthly recurring deposit
Total saved annually = $600

Eligible renters are those that a) have a 12 or more month lease at a partner property, b) are not delinquent on their lease obligations, c) have verified their email in the app, d) have linked a bank account to their Rhove account, e) have set up monthly recurring deposits into their Rhove account in an amount equal to or greater than the savings match, and f) accept and agree to all applicable terms. A full list can be found here: https://rhove.com/legal/

If you live at a participating property and would like to receive Cash Back, you must save a minimum amount equal to 2.5% of your rent payment monthly to be eligible for a savings match. You may save more than 2.5% up to $500 per month; however, additional savings will not be matched.

The money comes from savings on turnover costs when you renew your lease. The locked funds allows your property to incentivize lease renewals and share some of their cost savings with you.

Yes, but only at certain participating properties and after one qualifying lease renewal. Your money is always available.

No. Continue paying rent as usual through the channels that they have made available to you per your lease agreement with them. Rhove does not facilitate rent payments. When you set up a rewards account with Rhove, you are establishing a savings rewards account that you can use to set money aside for your financial goals while earning additional benefits.

No. Rent is not raised or lowered to offer Rhove. Property owners participate to encourage lease renewals and to provide an additional amenity that attracts tenants.

Rhove is entirely optional for residents at partner properties. We anticipate the simplified savings and dollar-for-dollar match will be tough to pass up for anyone with financial goals in mind. In addition, Rhove is developing a suite of products to help renters capture even more value from their rent.

Funds are held by Evolve Bank & Trust, Member FDIC. These funds are held in an account under Roost Enterprises, Inc. (D.B.A. Rhove), for your benefit. Vesting funds are held in a custody account under your property owner at Evolve Bank & Trust, Member FDIC. These funds will be automatically transferred into your account upon lease renewal per the vesting schedule in the Rent to Earn Agreement.

Closing Credits are an exclusive benefit for people that save and rent with Rhove. Each month you save, you will earn credits towards closing. Those are redeemable when you use our partner realtors and lenders to buy a home.

Eligible Rhove savers earn credits each month towards closing. Closing Credits are not redeemable for actual cash and only applicable when using Rhove’s partners as listed.

Get a Loan Credit of 0.5% of the mortgage loan value, up to $2,000. This credit applies towards loan-qualified closing expenses.

Get even more when you close on the purchase of a home with one of our partner real estate agents. Receive a Realtor Credit of up to 15 % of the realtor commision or max of $2,000 (whichever is lesser).

Example:
$232,000 Home Price *
Realtor Credit: $1,044 commission rebate
Loan Credit: $928 towards closing costs **
Total Credit Value: $1,972

* Average Home Sale Price in Central Ohio March 2019, Columbus Realtors
** Assumes a 20 % down payment

More detailed information is included in the Closing Credits Terms and Conditions.

Just setup automatic monthly savings with Rhove and you will start earning every month you save. Earn even more when you qualify for the savings match living anywhere offering rhove.

While you're automatically eligible for Closing Credits, you do not have to redeem them. Participating is optional. However, our esteemed partner lenders and realtors provide award winning customer service. Working with them to purchase your home and redeeming your closing credits can save you thousands of dollars in closing costs and expenses.

If you close on the purchase of a home and use a rhove realtor as your buyer's side agent from one of our real estate broker partners, you can receive a maximum credit of 15% of the commission payable to the real estate agent on the settlement statement at closing. The credit rebate is based on a standard 3% real estate agent commission, which would be equivalent to a rebate of up to 0.45% of the home purchase.

If you work with one of our lenders to purchase a home then you can receive a maximum closing cost credit of up to 0.5% of the mortgage loan value, up to $2,000.

Credits apply towards loan-program qualified closing expenses, including escrow items for taxes and insurance, prepaid expenses, home appraisal, and other customary costs associated with the mortgage or home closing.

Any lender or realtor credit shown on the Settlement Statement is subject to both federal lending and settlement laws, as well as the laws of the state in which the property is located, which may limit or affect the amount of, or the disclosure of such credit. We currently only offer this service in Ohio, which is a state that does not restrict rebate or commission credits for home purchases.

Loan and Realtor Credits are provided solely by our vendor partners and are in no manner attributable to a discount or rebate provided by Rhove. Redemption of credits is dependent on purchasing a home with partner vendors per the Closing Credits Terms and Conditions.

Partners can be found in the Rhove mobile app available for both Android and iOS.

Realtors and lenders often pay referral fees for qualified homebuyers. With Rhove, these fees are passed on to homebuyers instead of a broker or agent.

When you are ready, Rhove will connect you with one of our partner realtors and lenders. When you purchase a home, your Loan and Realtor Credits will be included on the Settlement Statement and will count towards qualified expenses, which can reduce your out of pocket closing costs.

Rhove is not a realtor, broker, or lender. Rhove is a financial technology company that provides services to renters through partnership with lenders, realtors and property owners.

Rhove does not receive any compensation when you purchase a home from the vendor partners related to closing cost Loan or Realtor Credits. Rhove may charge partners software-as-a-service fees for marketing and lead generation, which are not dependent on the purchase of any homes by any specific home buyers.

Only if you stop saving with Rhove. After 365 days from your last deposit into your Rhove account, your credits expire. If they expire, then you can start saving and become qualified again.

No. We respect your privacy. The personally identifiable information (PII) that we collect is shared with our banking platform partner for the sole purpose of providing banking services to you, in accordance with our privacy policy. Our banking platform partner is Synapse Technologies Inc. (Synapse) an agent of Evolve Bank & Trust, Member FDIC.

We do not sell or disclose your contact information or personal information to rental providers or any other third-party without your request or consent.

Our privacy policy can be accessed via the following link: https://rhove.com/privacypolicy.

If you link a bank account and establish an account with Rhove, we will share your information with our banking partners for the sole purpose of establishing your account and providing account services to you.

Synapse Financial Technologies Inc. (Synapse) is our banking software provider, and partner of Evolve Bank & Trust, member FDIC. Synapse’s API, and their relationship with Evolve, enables us to offer banking services and products. Any information we collect from you or about you may be shared with Synapse and treated by Synapse in accordance with our Privacy Policy and Fiduciary Deposit Account Agreements located in our disclosure library: https://rhove.com/legal/.

We may disclose information for the sole purpose of providing services requested by you or when obligated by law.

For example, if you sign up to tour a property or request more information about a rental property, we may share your contact information with that rental provider for the sole purpose of fulfilling your request. We will share only the information that is necessary to fulfill that request.

We disclose personally identifiable information only when necessary to provide services requested by you, when required to do so by law, or when we believe in good faith that disclosure is reasonably necessary to protect the property or rights of Rhove, third parties or the public at large.

We may disclose non-personally identifiable aggregated information without restriction. However, we will not, and will never, rent or sell potentially personally-identifying and personally-identifying information to anyone without your request or consent.

Rhove is committed to protecting your personal information. We comply with all applicable laws and regulations regarding the collection, storage, and transmission of your sensitive financial information and any information that can be used to access your sensitive financial information. We take deliberate steps designed to protect your information in our possession. These steps include, but are not limited to, maintaining information security controls such as data encryption, firewalls, logical and physical access controls, and continuous monitoring. These controls are regularly evaluated for effectiveness against industry-standards internally and by independent security auditors.