RentFund is a company that facilitates the conversion of your rent payments into a down payment for a home. Our mobile application allows users to access this unique offer. Members are required to verify their rent payments each month through the mobile application to receive their 5% cashback credit.
RentFund Members refers to users who have opted to enroll in the unique savings program offered by RentFund by paying a monthly or yearly membership fee. As RentFund Members, individuals gain exclusive access to a range of benefits, including participation in the innovative savings program.
Key features of RentFund Membership include:
RentFund Members actively contribute to the collaborative and supportive community fostered by RentFund, benefiting from financial tools and resources tailored to help them accomplish their goals.
RentFund agrees to provide a 5% cashback credit on each verified rent payment. This credit can be utilized exclusively for a down payment on a home purchase through RentFund's preferred partners.
Preferred Partners are essential collaborators within the RentFund platform, comprising a network of trusted professionals crucial to the home purchase process. RentFund members are encouraged to engage with these partners to avail exclusive benefits, particularly a 5% cashback credit upon successful home purchase. This incentive is designed to enhance the financial advantages for RentFund members and foster a seamless home-buying experience.
Key features of Preferred Partners include:
Preferred Partners play a pivotal role in RentFund's commitment to offering valuable benefits and support to its members throughout the home-buying process.
Cash Back Guarantee is an assurance from RentFund that members will receive the 5% cashback credit, provided they follow all the terms and conditions outlined in the agreement. RentFund is committed to delivering this financial benefit to all our members who fulfill their obligations as per the specified terms.
Key features of the Cash Back Guarantee include:
This updated definition reflects the commitment of RentFund to provide a guaranteed cashback credit, contingent on members meeting their responsibilities as outlined in the agreement.
The 5% cash back credit can only be used as a down payment on a home that is 100 times the credit value. For example, if you have $5,000 in cash back credit, you qualify to purchase a home valued at $500,000 or more ($5,000 x 100 = $500,000). All other funds earned using RentFund are accessible and can be used however users see fit.
To participate, users are required to undergo identity verification. This includes providing a government-issued photo ID and a selfie. Additionally, users must link their bank account to verify rent payments or provide alternative documentation such as a lease agreement, rental property details, payment history, and bank statements.
Payment Verification is a process implemented by RentFund to ensure the accuracy and legitimacy of payments made by users. Under this system, users are required to verify their payments within a specified time period corresponding to the month in which the payment was initiated. For instance, if a payment is made on January 1st, 2024, the user is granted the entire month of January to complete the verification process.
The purpose of Payment Verification is to enhance security, prevent fraudulent activities, and maintain transparency in financial transactions within the RentFund platform. Users are encouraged to promptly verify their payments through designated channels to confirm the successful completion of the transaction and to resolve any potential discrepancies. Failure to complete the Payment Verification within the stipulated time frame may result in temporary account restrictions or other measures to safeguard the integrity of the RentFund platform. This process not only protects users but also contributes to a trustworthy and reliable payment ecosystem within RentFund.
RentFund reserves the right to modify these terms at any time. Users will be notified of changes, and continued use of the service after modifications constitute acceptance of the updated terms.
RentFund may terminate or suspend a user's access to the service at its discretion, especially in cases of violation of these terms or fraudulent activity.
If you have any questions or concerns regarding these Terms, please contact us at firstname.lastname@example.org.
Thank you for choosing RentFund!