The Round-Up Volume 12: RNT For The Win!
For the first time ever renters officially own part of their community. Congratulations to everyone at Gravity for becoming the first renters in the world to own a stake in their apartment.
July 30, 2020
Real estate just got more inclusive.
Everyone at Gravity is now a stakeholder. Let that sink in… one day you’re just a renter, cutting a check to your landlord, and the next you’re opening the Rhove app to claim your first 50 Gravity RNT at no cost. 🤯
To our friends at Gravity, congratulations. You’re pioneers. The first to experience this unique opportunity and usher us into a new era of real estate––one that provides access and opportunity for everyone to participate. Now you pretty much know how Neil Armstrong felt. 🥾🌒
If you’re wondering why this is such a big deal, well, ownership is about so much more than finance. It expands our sense of citizenship and social responsibility. And that’s why we envision a world where every renter is an owner.
Welcome to The Round-Up, let's jump in.
RNT For The Win!
As the articles and shout-outs keep pouring in, it’s clear we’re not the only ones excited about Rentership.
Find out why innovation consultancy Canvas8 labels Rhove as a disruptor that’s changing the industry. 💡 National Real Estate Investor covers Rhove’s vision to turn every renter into an owner. And Spectrum News 1 put together a cool feature with some footage of Gravity and interviews with excited Rhovers!
The Optimist Daily has an in-depth article about how Rentership is a “Back to Better” solution that offers a “glimpse of what the future of housing might look like” and creates a world that works better for more of us. It’s a big statement. And we couldn’t agree more. 😎
The federal government is working through another round of coronavirus relief that’s expected to include more $1,200 stimulus checks. The proposal comes as enhanced federal unemployment and some statewide eviction moratoriums are set to expire at the end of July.
Although the federal moratorium on evictions might be extended in the relief efforts, some tenants are forming unions to protect themselves.
The Wall Street Journal writes that “beyond merely depressing sales, the crisis has uprooted the ways people work, learn, relax and consume.” It’s proving tough to manage for some small businesses, which are running low on cash as they begin bracing for a prolonged crisis. Amid a metric ton of uncertainty, many of us are left wondering how much of this ‘new normal’ will turn into lasting change.
Add this to the list of things Covid-19 is messing with: Our ability to afford homes. Due to the economic impact of the pandemic, 43% of renters say they will not be able to achieve homeownership in five years or more. This is despite home sales holding up surprisingly well through the summer sales season—further highlighting evidence of an uneven economic recovery. With yet another once-in-a-lifetime recession hitting the Millennial generation, homeownership appears to be pushed further out of reach for many of us.
When apartments or homes go on the market, highlighting local attractions and points of interest is a great way to attract potential buyers or renters. Forbes offers 15 ways to leverage local points of interest when selling a property, including a key piece of advice from Rhove’s very own Co-Founder and CEO, Calvin Cooper:
“Do more to empower renters financially. Millennials have zero net real estate wealth, and economic inclusion is something that everyone is thinking about. Go beyond the typical amenities and adopt solutions that help renters in your communities save money, build wealth and share in the prosperity of real estate development.”
Said another way, instead of putting in another bench press, golf simulator, or smart appliance into an apartment, empowering renters to create financial value alongside property owners is of the utmost importance.
Amazing Neighborhood? ✅
Offering Rhove? ✅
The Jerome features 54 beautiful apartments for rent in the heart of Victorian Village, with secure parking and top-of-the-line finishes including hardwood floors, stainless steel appliances, a washer and dryer, granite countertops, and so much more.
We couldn’t be more excited that everyone is now a stakeholder at Gravity. It’s literally as easy as claiming your stake in the Rhove app. So go and get your first 50 Gravity RNT at no cost—it’s yours just for living there.🚀
For those who don’t live at Gravity, know that this is only the beginning. You can refer your apartment and we’ll work to bring Rentership to you ASAP. We envision a world where every renter is an owner, and it couldn’t be coming at a more urgent time. Like we’ve said before, ownership goes far beyond finance. Ownership has strong intrinsic value, it viscerally connects us to our community. It expands our sense of citizenship and social responsibility. Yeah, it’s that important.
So join us in celebrating Rhove Day this weekend, August 1, as renters are receiving their rewards just for paying rent.
Have a great weekend.
Quote of the Week
“For people who don't have the means to go out and buy a house especially during the pandemic and everything, I think it's a great program and there's something for, like, the younger generation to be a part of. So I did see it as a benefit, owning a stake in your home and staying here long term and you know, trying to find some benefit out of renting."Julius K., a freshly minted stakeholder at Gravity.