What is Renting with Benefits?

Our new product - Renting withBenefits (RwB) - empowers you to co-invest in the Ascend Portfolio of homes and participate in the financial upside of that portfolio. This enables renters like you to reap the financial benefits of housing while removing the pains of owning a home - maintenance, repairs, and taxes, just to name a few.

We believe that turning renters into co-investors in their homes will result in better outcomes for you, us, and the community, for example, in the form of reduced repairs and maintenance, lower turnover and vacancy rates.

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How does Renting with Benefits work?

RwB works like any normal rental experience. You apply to rent an Ascend Home like any other home. Before you move-in, you pay the equivalent of a security deposit and first month’s rent. How we use that security deposit is where our rental product different than your average rental home. Instead of letting your security deposit sit in a dormant escrow account generating marginal returns, you will co-invest it in the equity of the Ascend portfolio of homes. This makes you a co-investor in your rental property, and you will benefit from the property’s financial performance. This is where you benefit like a co-owner without having to own a home.

That’s it.

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Your Investment with Ascend

You will own a share of the Ascend Portfolio, which includes your home and others. Your security deposit - a.k.a. Initial contribution - will be used to issue you shares in the entity that owns the home you are renting, and other homes in the Ascend Portfolio. Investing in a portfolio of homes has several advantages, like diversification of investment risk and returns, potential higher liquidity in the future, and more opportunity to invest and divest.