This startup gives renters a financial stake in their apartments

When someone rents an apartment in a new complex in Columbus, Ohio, they can now also get a financial stake in the building. The property is the first to partner with Rhove, a startup that wants to help shrink the wealth gap between renters and homeowners by offering “rentership,” an asset that grows with the value of the property.

“We’re creating a new situation where every renter is a stakeholder,” says Rhove cofounder Calvin Cooper. “Everybody living at the property is going to be granted a financial stake in the building, and they’ll be able to buy more on their own terms. So what we’re creating is a situation where renters are given many of the financial benefits of ownership while maintaining the flexibility of renting.”

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Story excerpt provided by Fast Company.

Written by Adele Peters.

Originally published July 2, 2020.

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