Rendity is an innovative Fintech Startup based in Vienna, which allows investors to invest in high quality real estate projects via crowdinvesting through its platform.
Crowdinvesting is the practice of raising capital through the internet from a large number of people. This way of raising capital has been established for the funding of companies worldwide, and also allows anyone to invest in real estate.
Due to legal constraints Crowdinvesting platforms in Austria may only offer investments via subordinated loans. In the event of default subordinated loans will only be paid back if there are sufficient funds to cover any senior debt such as bank loans.
The registration and use of our platform are free. We are financed by the specific intermediation and operational compensation from the real estate developers.
All of our rental properties are managed by a professional property managers. The individual sponsor is responsible for all leasing efforts in collaboration with external real estate agents.
The return is a risk adjusted interest of the invested capital. It is determined by our risk assessment, which consists of an evaluation of the project and the sponsor (market situation, project situation and capital structure).
Our development projects have a predetermined term during which the invested capital cannot be refunded. The sponsor may, however, payback the loan at any time. In case of premature repayment of the loan Rendity will inform investors accordingly.
Each loan has a fixed duration. Therefore, funds can usually not be repaid before the end of that duration.
At the end of the subscription period, the loan amounts provided by our investors are made available to the issuer, regardless of whether the financing target has been fully achieved or not.
In the event that the sum of the loan amounts provided differs from the funding aim, the loan agreements are nevertheless concluded and the difference to the funding aim is provided either by the issuer itself or from other sources of capital, so that the financing is concluded successfully in any case.
As an investor you will receive an attractive yearly return. You can find the specific return of a project in the respective loan contract and project page.
With development projects investors receive the return at the end of the term.
With our rental projects investors receive a quarterly distribution of the rental returns and also a share of the appreciation, if any, when the rental property is sold after the holding period.
Each project has its own overview page in the login area. There you can find the most important information and conditions. In addition, an exposé will be created for each project. Investors will receive regular updates about the progress of the real estate project.
The Rendity Rating is an assessment system ranging from A to E. It enabled investors to quickly compare projects across the platform. The Rendity Rating measures the relative risk-adjusted return of the individual projects. B-rated projects will have a higher inherent risk than A-rated projects. Thus, B-rated projects will generally have a higher return than A-rated projects due its relatively higher risk. The rating does not imply that investing in one project is fundamentally better, worse, or better suited for an individual investor.
Any person, 18 years or older, who has a European bank account can make investments on our platform. Companies with a bank account within the European Union (EU) can also invest.
If you invest as consumer according to the Austrian Konsumentenschutzgesetz (KSchG), you have the right to withdraw your investment within 14 days from the contract date. If you make use of your right to withdraw your investment, we will refund the invested capital within 10 working days from the date of your notice of withdrawal. You can withdraw your investment via your dashboard or by sending us an email.
After investing in a project, you can actively participate by making suggestions for improvements and by giving feedback. Moreover, you will receive quarterly updates on the progress of the real estate project you invested in. We point out, though, that there is no legal claim to participate in the planning process of a project.
KYC stands for Know Your Customer and describes legal regulations for banks and financial institutes to check the identity of their customers in order to prevent any form of money laundering.
All repayments of your invested capital and returns are made to the provided bank account.
In order to avoid money laundering, our payment service provider is obliged to match the provided IBAN with your identity.
In order for our payment service provider to verify that you are the account holder, you must upload a confirmation stating your IBAN and name. This can be:
The Investor-Wallet is an individual virtual payment account, which is used to make investments. The invested capital, thus, remains in your sphere of influence throughout the whole funding period. You may also charge your personal Investor-Wallet at any time even if you plan to invest in particular projects only at a later time. The underlying bank account is a non-interest-bearing insolvency-protected fiduciary account with BNP Paribas.
For investments via our platform, we need to carry out enhanced customer due diligence measures regarding politically exposed persons. Politically exposed person means all natural persons who are or have been entrusted with prominent public functions and immediate family members, or persons known to be close associates, of such persons.
In case the minimum funding amount is not achieved within the subscription period, the money paid in by you will immediately be refunded to your bank account. As the fiduciary account is non-interest-bearing, we cannot pay any interest for the period between the payment and repayment of the capital in cases, where the minimum funding amount is not achieved.
Current Balance: This is the amount which is currently available on your wallet. Which means it is either not invested in any of our projects yet or the 14-day withdrawal period is still running.
Available Funds: This is the amount you can invest.
Committed Funds: Committed Funds are any funds that are currently invested in one of our projects.
Rendity handles the majority of the administrative work, especially the communication with the “crowd”. However, to guarantee the highest possible customer satisfaction, it is necessary to update the investors about the progress and vital information about the project.
The selection of experienced real estate developers is paramount to Rendity. Thereby we can offer investements in high quality real estate projects. Every single project is screened and thoroughly assessed by external advisors before it is listed on our platform. As an international crowdinvesting platform we offer our entire content in German and English, and also on mobile devices. Through the use of state of the art technology we cannot only display information in a transparent and comprehensible way, but also achieve a very high standard of security regarding the payment process.
In case the minimum funding amount is not achieved within the subscription period, the collected funds are transferred back to the investors. This also means that the developer has to find other ways to raise capital.
It usually takes approximately one month from handing in the project until it goes live for funding. However, the project itself as well as the quality of the documents handed in are critical for the timing and success. As we put a lot of emphasis on the optimal mix of projects on our platform, the exact timing is decided individually for every project.
We want to establish a basis of trust between the investor and the real estate developer. This can be achieved more easily when people know, who they are dealing with. Thus, detailed information on projects and their developers are only available after sign up.
To sign up you only need to provide your e-mail address and a password. If you want to invest you are required by law to open an investment account and disclose further information. The collection and use of your personal data exclusively takes place within the limits of statutory provisions and in consideration of the current data protection laws. For further information on data protection please see our imprint and visit our blog.
Your contribution helps to realize the specific real estate project. This helps you to have a direct relationship to the underlying asset, as opposed to closed investment funds, where the investor has little knowledge as to where the money is actually invested in. Based on the loan agreement you have a claim against the debtor in the amount of your capital contribution. This claim includes the repayment of your contribution upon completion of the loan period as well as an attractive interest rate.
A separate insolvency protected bank account is created for each project. Only after a successful crowdinvesting campaign, namely reaching the funding limit, the funds are transferred to the real estate developer. In case the funding limit is not achieved, the money is transferred back to the investor. The bank accounts are handled by payment service provider Lemonway. All bank accounts handled by Lemonway are held by BNP Paribas SA based in Paris, France. Due to the fact that the account-keeping bank is situated in France, money transfers to and from BNP Paribas SA within the European Economic Area are considered cross-boarder payments according to EU Regulation No 260/2012 on establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation. SEPA credit transfer is treated no different to a domestic transfer. Thus no additional fees apply.
For more detailed information on possible risks please refer to our risk notice.
A market crash in the real estate sector does not have any effect on your claim for timely payment of the capital contribution including interest against the real estate developer. However, we cannot guarantee that a market slump may have negative repercussions for the real estate projects listed on Rendity. (For risks regarding the qualified subordinated loan agreement see above)
The claim for timely payment of the capital contribution including interest shall remain in principle unaffected. (For risks regarding the qualified subordinated loan agreement see above).