As a real estate agent in NYC doing sales and rentals I can say that heavily incentivizing the landlord to participate is critical to this getting anywhere. In my market the tenant normally pays the broker fee, first months rent, and the security deposit upfront. Landlords put rental security in interest bearing escrow accounts until the end of the lease term or until the tenant damages the rental beyond normal wear and tear. I’m not sure how that would work with a crowd sourcing platform covering the security in exchange for rewards. I’m also curious to know how fast that rentberry security deposit could be delivered to the LL for a typical $3500 NYC rental. It doesn’t seem sustainable in a high rent market. Not to mention subsidized tenants on veteran programs or section 8, rentberry crypto wouldn’t be simplifying payments for those tenants or for those landlords who are getting program checks. I’ll have to look into it. The bidding wars on the rentals seem to be a selling point for landlords but bidding wars are a possibility with any good rental property.
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