Rental Startup Rentberry Enters Its Last Week Of Funding On StartEngine

The rental real estate market is lagging as the world becomes increasingly digitized, with technology playing a dominant role in major industries. Start-ups such as Rentberry have been capitalizing on this opportunity to revolutionize the rental market across the U.S. and internationally. The long-term rental platform leverages patented technology to create a seamless and hassle-free rental experience for tenants and landlords alike, thereby potentially saving billions in move-in costs and rental deposits. 

The start-up has created a niche service since its inception in 2015, raising more than $21 million in capital from high-profile angel investors including Zing Capital, Google and McKinsey & Company. 

Rentberry is currently raising capital through a Regulation A offering on the equity crowdfunding platform StartEngine. The campaign has already raised over $11.3 million from about 7,000 retail investors. 

The offering is priced at 87 cents per share with a minimum investment of $300.15

Digitized Rentals: The Future of Real Estate 

Decentralized platforms digitizing the entire rental marketplace are poised to be the next disruptive innovation in real estate. Despite technology dominating most sectors, long-term rentals are still operating in stone-age fashion, as pointed out by Rentberry CEO Oleksiy Lubinsky. 

The rental market is expanding rapidly, particularly with home ownership becoming less affordable as average 30-year mortgage rates top 7%. Approximately 44 million properties were rented across the U.S. in 2021, with aggregate rental expenditure topping $694 billion. These figures will likely increase in the near term as Gen Z enters the workforce. In fact, over the next decade, 5 to 6 million households will likely become new renting households. Roughly 46% of the population under 45 years of age prefers renting thanks to the reduced hassles and maintenance expenses. Digitized and automated rental experience will likely boost this number further. 

Rentberry has been charting steep growth since its inception less than a decade ago as it achieved more than 8 million people in its user base in 2021. Also, the platform processed approximately 24 million properties last year and is expected to rise 1.5 times to 60 million by the end of this year. It currently has a $7 billion yearly market opportunity.