Startup Rhove is offering renters a vested interest in their Apts

[Tom Anderson]

I recently read this article by Fast Company on a new real estate startup called Rhove out of Columbus, Ohio. The quick summary is they're offering renters in their buildings a small piece of equity on the property they're renting and calling it Rentership! I love this idea!

As more and more of the Gen Z population moves into the working class I don't see them wanting to own homes like generations of the past. They want to travel, they want experiences, they don't think about signing up for one job that they'll stick with for the next 30 years in the same area like previous generations. This makes them a generation of renters. 

Rhove is only offering them a $50 stakes per year but you could see how that could add up over time and it could help to drive renters in their buildings vs competitive spaces in the same neighborhood. Rhove also gives renters the ability to invest more if they're interested. 

Rhove founder and CEO Calvin Cooper also discusses the community and pride of ownership aspect beyond just the financial upside. ““Ownership is not just about finance, ownership is about citizenship, is about social responsibility. It binds us more closely to our neighbors." 

I have to imagine tenants that have a vested interest in the property will do more to take care of it and take serious pride in knowing they're a part of something bigger, not just a row on a rent roll excel sheet. 

While I don't know if Rhove has perfectly nailed the execution of this offering just yet, I do think they are headed in the right direction and I do think we'll see other Real Estate Investors following suit here. 

Interested in hearing what this community has to say about this? I'd love to do this in some of my rental properties in the future especially if I could legally do it to fund new projects and investments.