Peak 10 Ask Rhove Anything
Our answers to questions about Rhove and Rentership from Peak 10 residents.
January 15, 2021
To help our first-ever renters turning into owners in Dayton learn more about the Rhove experience, we hosted an Ask Us Anything webinar for Peak 10 residents to connect with our Co-Founders.
We kicked things off by diving into Rhove's mission: to expand access and opportunity for ownership in our communities. We believe our democracy is stronger when everyone has ownership, and we're thrilled to expand that ownership now in Dayton.
Then, we answered Peak 10 residents' questions about Rhove, the app, and more. Here's what we learned:
Calvin Cooper, Rhove Co-Founder & CEO, explains Rhove's mission and purpose.
What is Rhove?
Rhove is a new category of housing that combines the flexibility and amenities of renting with the financial value of owning a property. Rhove is about more than just financial benefits, though. It’s about the fairness, citizenship, and social responsibility that come with participating in the growth of our communities.
What is RNT?
RNT is an asset that represents a fractional stake in your apartment building. The value of RNT is tied to the value of your entire apartment community––if the value of your apartment community increases so too does RNT. RNT also earns a fixed 5% annual return (what we call an RNT Return). This 5% RNT Return is distributed into your Rhove account in cash payments on a monthly basis just for being a stakeholder.
How does RNT make me money?
You can earn cash from RNT in two ways:
First, RNT earns a 5% RNT Return, so every second as a stakeholder you'll earn cash. Plus, you can continue earning RNT Returns even if you move out of your apartment.
Second, you’ll also receive a cash payout each time Peak 10 has a capital event. If the property appreciates in value and is sold or refinanced, a portion of that value gets distributed to all of the property’s stakeholders (that’s you). This means the more RNT you buy and own, the larger your potential payout will be.
Ok, then how does Rhove make money?
Great question! Right now we make money in two ways:
We charge our property owner partners for using our software.
We charge transaction fees for one-time RNT buys—we waive these fees when you set up Monthly RNT buys (which is also a great way to grow your stake over time).
How do I get RNT?
It’s easy! Just download the app and create an account. You’ll get 5 free RNT just for living at Peak 10, plus 5 Bonus RNT every month you pay rent on time. And yes, that continues every year.
A brief tutorial led by Rhove Co-Founder Jon Slemp on how to set up a Rhove account and pre-claim RNT at Peak 10.
A Bit Deeper
With RNT, do I own a piece of my apartment or the whole building?
RNT is linked to the value of the entire property; and in the case of Peak 10 RNT, that includes all three buildings in the neighborhood! That means when you claim your Peak 10 RNT that Park Layne, The Rockwood, and The Riverstone could contribute to the value you earn. If their value appreciates, so does the value of your Peak 10 RNT.
What happens to my stake if I move out?
That’s really up to you! You can hold onto your stake even after you move out and you’ll still earn a 5% RNT Return from it. You’ll also receive a stakeholder payout if the property is sold or refinanced. The thing that changes is your ability to buy more RNT—only current, eligible residents at Peak 10 can buy stakes in the property.
What happens if Peak 10 is sold to a new owner who doesn’t use Rhove? Do I still get a payout?
Yes, you will still receive a payout from the sale of the property regardless of who it is sold to. We hope you’d introduce us to the new owner so we can help you continue to own a stake in the place you call home 🤝 but it’s not necessary. As soon as the capital event occurs you’ll receive your share of the proceeds for your stake.
Will Rhove make my rent go up? Does it impact my lease?
Nope. Rhove is all about providing renters with access and opportunity to tap into the value being created in our community. You pay the same rent as all your neighbors, and you won’t be penalized for not participating (except, you know, missing out on that value). 💸
As for your lease, Rhove won’t impact it at all. We’re a third party app, so rent payments, changes to the property, unit maintenance, etc. are not facilitated by us. In fact, you can create an account right now, receive free RNT every month (plus your RNT Return), and it won’t have any effect on your lease.
How does Rhove use my data? Will it be sold to third parties?
We don’t collect any more data than we need to turn renters into owners. All of the information we ask for helps us track who lives at what property, and it will never be sold to third parties.
Wait, isn’t this like Rent to Own?
This is not Rent to Own. RtO agreements consist of weekly or monthly payments with the option to purchase your property at some point during the agreement. Rhove gives you the ability to own a stake in your apartment right now, and earn financial value from the place you call home. It also allows you to sell your stake instantly, any time. No 30-year mortgage necessary. Seriously.
We know—it’s crazy that this hasn’t been done before.
It's More Than Finance
Trust us, we know it’s exciting to finally earn value from your apartment. Being a stakeholder means turning your rent into a stronger financial future—who wouldn’t want that?
But Rhove is about so much more than just finance. It’s about strengthening our democracy by providing everyone with ownership, and giving everyone the same opportunity to benefit from the growth of our communities.
Here’s to turning every renter into an owner 🎉
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