Futurerent is creating a blockchain-based real estate lending platform that enhances transparency and security in property transactions. The platform streamlines the loan acquisition process for real estate assets, mitigating inefficiencies and risks inherent in traditional financing methods.
Funding
$10.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PFSCFounders
Product
Problem
Property investors often face challenges in accessing the equity tied up in their rental properties without resorting to traditional loans or refinancing, which can impact their credit scores and involve lengthy application processes. This can limit their ability to quickly capitalize on investment opportunities or address immediate financial needs.
Solution
Futurerent provides a financing solution that allows property investors to access up to $100,000 of their rental income in advance per property, with a maximum of $500,000 per client, without impacting their credit score or requiring a traditional loan. Instead of borrowing, Futurerent enters into a concurrent lease agreement, providing a rental prepayment in exchange for a fixed portion of the property's future rental income. The tenant continues to pay rent to the property manager as usual, and the property manager then transfers a portion of the rent to Futurerent each month until the agreed-upon amount is repaid. This approach offers a fast and simple way for investors to unlock equity for renovations, deposits on new properties, or improved cash flow, with funds available in as little as 48 hours.
Target Audience
Futurerent primarily targets property investors in Australia who own professionally managed rental properties and seek to access equity quickly and easily without the complexities and credit score impacts of traditional financing methods.
Features
- Advance of up to $100,000 per investment property (maximum $500,000 per client)
- No impact on credit score, as it is not a loan
- Fast application process, completed in minutes with minimal paperwork
- Funds disbursed in as little as 48 hours
- Repayment through a fixed portion of the existing rental income
- Seamless integration with property managers, who handle the monthly transfers to Futurerent
- Repayments pause if the property is vacant or the tenant is in arrears, eliminating out-of-pocket expenses
- No income verification required, making it suitable for self-employed investors