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.”
Click here to read the complete story.
Story excerpt provided by Fast Company.
Written by Adele Peters.
Originally published July 2, 2020.