Show HN: Colibrin – Get up to 15% of your rent back. (AMA in comments)(colibrin.com)

Show HN: Colibrin – Get up to 15% of your rent back. (AMA in comments)

https://www.colibrin.com

14 comments

somid38 anni fa

Hello everyone, back in 2016 I started researching how to improve the residential rental estate space and realized that long-term renters are the gold of the industry. Similar to good drivers in the car insurance industry, and inspired by cash-back programs from credit cards, and airline mile points -- I figured we could create a new financial instrument that exists between the world of renting and owning property.

For our generation, it is unfortunate that rent prices are increasing faster than wage hikes. This is partly due to the influence that pension funds, sovereign funds, and other retirement funds have had on the real estate landscape. To keep returns high on pension funds, they invest in REITs that increase the rent price of our generation. In a way, the retirement fund of a previous generation is making the living expense of the current generation impractical.

Colibrin sends landlords very long-term tenants, and it gives renters a 401(k) fund-like-experience that they can cash out when they move out. Overall, renters can get 10% to 15% of their cumulative rent payments when they move out, and hopefully will use that to buy their next home.

We're still in the early days, so if you wish to join - this is the time. Please let me know you if you have any questions. I can be found at omid+hn [at] colibrin [dot] com

Thank you all, I feel privileged to have welcomed Colibrin to the world via HN, this is our first public mention.

hackerfan1238 anni fa

Brilliant idea! I have been renting for the past 15 years and for a good chunk of it in between of two stretches of 3-4 years, was in the same building. Would have been great if I could have made some savings off of those stays! Excited to see this being rolled out :)

fiatjaf8 anni fa

Amazing idea. I hope you succeed.

Are you a global network or just US? I have small properties to rent on Brazil and would like more long-term renters.

somid38 anni fa

We can be global -- I will go ahead and shoot you an email

fiatjaf8 anni fa

I'm still waiting for the email.

cimmanom8 anni fa

The site says there's no long term lease lock-in. If that's the case, how are you decreasing the vacancy rate?

somid38 anni fa

Because the renter fund grows -- by the time they move out the fund will be a huge reward to let go off.

dimodi98 anni fa

where does the xtra money for renters come from? Imagine rental properties are already efficient

shahryc8 anni fa

I think some rental properties are definitely underutilized

somid38 anni fa

Underutilized, and the high rate of tenant switches causes all sorts of unnecessary expenses

makia8378 anni fa

seems from the lower vacancy rate. I'm curious what is the average rate for each state or county in US or abroad.

somid38 anni fa

This varies dramatically, some areas like Rittenhouse in Philadelphia has an average of 10%, while other locations have a 3% vacancy rate -- the national average in the US is typically 7%

somid38 anni fa

Great question, when tenants switch apartments landlords have to absorb the missing weeks of rent while they are cleaning and repairing the unit. Landlords also have to find a new tenant and cover lots of other costs. Overall, property owners have to spend 20% to 45% of their cash-flows on tenants. In a way, right now long-term renters are subsidizing short-term renters.

tuffon8 anni fa

How do I sign up to be one of the first renters on the platform?