Terms of Use

Effective date: January 6th, 2025.

1. Applicability. These terms and conditions of service (these "Terms") are the only terms which govern the agreement between you (the “User”) and Rent Fund Inc. (the "RentFund") (RentFund and User referred to collectively herein as the “Parties”).

BY USING RENTFUND (AS DEFINED BELOW), AND BY CLICKING THE “I ACCEPT” CHECKBOX, YOU ACCEPT AND AGREE TO BE BOUND AND COMPLY WITH THESE TERMS AND OUR WEBSITE TERMS, FOUND AT WWW.RENTFUND.COM/WEBSITE-TERMS AND OUR PRIVACY POLICY, FOUND AT WWW.RENTFUND.COM/PRIVACY, INCORPORATED HEREIN BY REFERENCE. IF YOU DO NOT AGREE TO THESE TERMS OR THE PRIVACY POLICY, YOU MUST NOT ACCESS OR USE RENTFUND.

1.1 RentFund Product and Service. RentFund offers products and services that allow Users to benefit from their rent payments including but not limited to: (a) Building Credit: Establish or improve your credit score by demonstrating responsible financial behavior. (b) Qualifying for a Mortgage: Enhance your mortgage application with a positive rent payment history. (c) Accessing Cash: Unlock financial products and services based on your creditworthiness.

2. Users shall sign-up and subscribe to RentFund at the monthly rates set out at: www.rentfund.com/pricing (the “Subscription Fees”). User hereby acknowledges and agrees that RentFund may change the amount of the Subscription Fees from time to time, and that use of RentFund and User ability to receive the benefits from RentFund (as defined below), is conditional upon timely and continued payment of Subscription Fees.

2.1 Subscription Plans. RentFund offers various Subscription Plans with access to different features and benefits from RentFund. Users may upgrade or cancel their Subscription Plan at any time.

2.2 User hereby consents and agrees to provide all personal information and complete identification verification as requested by RentFund during the RentFund sign-up process. User further acknowledges that such personal information and identification verification is required to obtain Subscription, and that all personal information is collected and maintained pursuant to the RentFund Privacy Policy available at: www.rentfund.com/privacy

2.3 User hereby acknowledges and agrees that Subscription Fees paid by the User are non-refundable, except as provided in Section 4 below.

3. Reporting Rent Payments. Users may submit documents evidencing rent paid for their primary residential residence (“Reporting Payments”) through the RentFund app, available at: app.rentfund.com (the “App”).

3.1 The App shall provide means and direction for User to submit documents from time-to-time evidencing Rent Payments.

3.2 Reporting Time. Users understand and acknowledge that rent payments reported within thirty (30) days of being made are more accurately reported and allow RentFund to provide additional benefits.

3.3 RentFund shall review documents submitted pursuant to Section 3 herein to verify Rent Payments. Rent Payments that are successfully verified shall be referred to herein as “Verified Rent Payments”.

3.4 User hereby acknowledges and agrees that verification of Rent Payments shall be conducted in the sole and unfettered discretion of RentFund, and that submission of documents pursuant to Section 3 herein does not guarantee that Rent Payments will be successfully verified.

3.5 Users shall receive notice of successful or unsuccessful Rent Payment verification through the App. If applicable, RentFund may also request additional documentation to verify Rent Payments through the App.

3.6 Data Security. RentFund stores and secures Users information as described in our Privacy Policy, available at www.rentfund.com/privacy.

4. Refund Policy. Users who are not satisfied with RentFund’s product or service after thirty (30) days of paying their RentFund Subscription Plan are eligible to receive a full refund. Refunds are to be processed immediately upon request by the Users.

4.1 Cancellation Policy. Users may cancel their Subscription Plan anytime.

4.2 Guarantees. Users understand that RentFund does not guarantee any specific results, such as a particular credit score increase or mortgage approval, by using the Services. The benefits Users receive may vary depending on individual circumstances and other factors. 

5. Features. RentFund offers various features to enhance the Users experience and maximize the benefits of reporting rent payments. All the features RentFund offers are available at: www.rentfund.com/features. Users acknowledge that by agreeing to the terms herein they are agreeing to the specific terms for each Feature RentFund offers.

5.1 Feature Updates. RentFund will update Features from time to time and Users may lose certain control or use cases in some circumstances. 

5.2 Restricted Access to Features. Users may lose access or be restricted from using certain features at RentFund sole discretion.

5.3 Quick Cash. (a) Availability: Quick Cash is a feature that allows eligible Users to access financial support when needed. This feature is available only on the RentFund Standard Plan and Premium Plan, which can be viewed at www.rentfund.com/pricing. (b) Application and Approval: To access Quick Cash, Users are required to apply. Approval to use Quick Cash is in RentFund's sole discretion. (c) Interest: The financial support accessed through Quick Cash is interest-free as long as the User maintains their RentFund Standard or Premium Subscription Plan. If the User stops paying for their RentFund Subscription Plan, they will be charged 19.99% interest per annum on the outstanding Quick Cash balance until the loan is paid back to RentFund in full.

5.4 Simple Pay. (a) Functionality: Simple Pay allows Users to pay their rent using a credit card. (b) Fees: The fee to process rent payments using Simple Pay can be viewed at www.rentfund.com/pricing. (c) Payment Responsibility: Users understand that RentFund is not responsible for making rent payments if a credit card is declined. Users will be notified immediately of any declined transactions and are responsible for ensuring timely payment of their rent. (d) Payee Management: To use Simple Pay, Users must add a payee to whom the rent payment will be sent. Payees can be added, edited, and deleted in the RentFund App at the User's sole discretion. (e) Automated Payments: Users have the option to automate their monthly rent payments through Simple Pay. This automation can be canceled at any time in the RentFund App. (f) Payment Processing: All payments processed through Simple Pay are securely handled using a third-party payment processor, Stripe (stripe.com).

5.5 Credit Builder. (a) Functionality: Credit Builder allows Users to report their rent payments to Equifax Canada (equifax.ca) to build their credit history. (b) Timely Reporting: To maximize the benefits of Credit Builder, rent payments must be reported in a timely manner, ideally no later than thirty (30) days after the payment has been made. (c) Lease Agreement Duration: Users must use Credit Builder to report all rent payments for the entire duration of their lease agreement. (e) Impact of Missed or Late Payments: Missed or late rent payments will negatively impact the User's credit history. Users understand that RentFund is not responsible for any missed or late rent payments. (f) Pricing: The price for the Credit Builder feature can be viewed at www.rentfund.com/pricing.

5.6 Place Finder. (a) Functionality: Place Finder assists Users in finding a place to rent by providing access to listings and resources. (b) Fees: The fee to use Place Finder can be viewed at www.rentfund.com/pricing. (c) Refund Policy: If RentFund does not find a place to rent for the User, the User may request a refund on the fees paid for this feature. The decision to refund will be at RentFund's sole discretion. (d) No Guarantee: RentFund does not guarantee that Place Finder will successfully locate a rental property for the User. (e) Third-Party Listings: Place Finder may utilize third-party listings and resources. RentFund is not responsible for the accuracy, availability, or content of these external sources.

5.7 Instant Approval. (a) Functionality: Instant Approval is a feature that allows Users to get approved for a rental property when they are applying. (b) Application and Approval: This feature requires Users to apply, and approval for this feature is under RentFund's sole discretion. (c) Pricing: The price for the Instant Approval feature can be viewed at www.rentfund.com/pricing. (d) Budget: Upon a User's approval for Instant Approval, they will be able to qualify for rental properties that fall within their budget. Properties outside of the User's budget will not qualify to be used with the Instant Approval feature. The budget of a User is decided by RentFund upon the User's application. (e) No Guarantee: RentFund does not guarantee Users will be approved for any property they apply to, only properties that fall within the criteria given to Users when applying the Instant Approval feature in the RentFund App.

5.8 Deposit Assistance. (a) Functionality: Deposit Assistance provides assistance to Users with their damage deposit for a rental property. (b) Application and Approval: To access this feature, Users are required to apply and be accepted at RentFund's sole discretion. (c) Damage Responsibility: If the damage deposit is used to fix damage to the property, the User will be responsible for paying RentFund the difference in costs incurred. (d) Deposit Loss: Upon the loss of the entire deposit due to damages to the rental property, Users are required to pay back the amount plus 19.99% interest per annum until the amount is paid back in full. (e) Fees: Users will be charged a fee to access the Deposit Assistance feature, which will be set by RentFund upon application. Users are required to pay this fee for the duration of their lease agreement. If Users default on payment, RentFund will begin charging 19.99% interest per annum on the deposit amount until paid back in full.

5.9 Move Assist. (a) Functionality: Move Assist is a feature that RentFund offers its Users to assist in the process of moving. (b) Application and Approval: To access this feature, Users are required to apply. Approval for the use of Move Assist is at RentFund's sole discretion. (c) Fees: Upon approval, Users will be provided with a fee payable to utilize the Move Assist feature. (d) Refund Policy: Fees for the Move Assist feature are non-refundable.

5.10 Instant Ownership. (a) Functionality: Instant Ownership is a feature that allows Users to potentially qualify for a mortgage based on their current rent payment amount and history. This feature allows Users to explore potential homeownership opportunities by leveraging their rental history. (b) Application and Eligibility: (1) Users are required to apply for Instant Ownership through the RentFund App. (2) A minimum of 24 months of verified rent payments is required to be considered for Instant Ownership. (3) RentFund may require additional information from Users to assess their eligibility, including but not limited to income, employment status, credit history, debt load, and living expenses. (4) Meeting the minimum requirements does not guarantee approval. (5) Approval for Instant Ownership is at RentFund's sole discretion. (c) No Guarantee: RentFund does not guarantee that Users will be approved for a mortgage through the Instant Ownership feature. Approval is subject to various factors and the policies of third-party mortgage lenders.

5.11 Down Payment Assist. (a) Functionality: Down Payment Assist is a feature that allows Users to get assistance with their down payment for a home purchase. (b) Application and Approval: Users are required to apply for Down Payment Assist through the RentFund App. Approval for this feature is at RentFund's sole discretion. To be approved for Down Payment Assist, Users must meet the following requirements: (1) Be a first-time home buyer. (2) Use RentFund's lending partner to obtain a mortgage. (3) Use RentFund's real estate buyer agents to purchase a home. (c) Fees: The fee to use Down Payment Assist will be determined by RentFund upon approval of the application. (d) No Guarantee: RentFund does not guarantee that Users will be approved for Down Payment Assist.

6. Term and Termination.

6.1 Terms. These Terms shall continue in perpetuity until terminated pursuant to these Terms.

6.2 Termination. (a) Termination by RentFund: RentFund shall have the right to terminate these Terms upon User’s breach or default with respect to any of User’s representation, obligations, or responsibilities as set out herein. Such termination shall be effective immediately upon written notice to the User, where said breach or default is not reasonably capable of cure in Rent Fund. (b) Termination by User: The User may terminate their subscription and these Terms at any time by providing written notice to RentFund through the App. However, termination does not entitle the User to a refund of any Subscription Fees already paid, except as outlined in Section 4. (c) Effect of Termination: Upon termination of these Terms by either Party, the User will no longer have access to RentFund services, including the ability to Report Rent Payments for verification or any other various benefits from RentFund. Any Verified Rent Payments will be forfeited unless otherwise agreed in writing by RentFund.

7. Disclaimer of Warranties.

7.1 RentFund provides its services on an "AS IS" and "AS AVAILABLE" basis. RentFund makes no representations or warranties of any kind, express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement.

7.2 RentFund does not guarantee the accuracy, completeness, or reliability of any information provided through its platform or that its services will meet the User’s specific requirements or expectations.

8. Limitation of Liability.

8.1 To the fullest extent permitted by law, RentFund shall not be liable for any indirect, incidental, consequential, special, or punitive damages, including but not limited to loss of profits, data, or goodwill, arising out of or in connection with these Terms or the use of RentFund services.

8.2 RentFund’s total liability to the User for any claims arising out of or related to these Terms or RentFund services shall not exceed the total amount of Subscription Fees paid by the User in the twelve (12) months preceding the event giving rise to the claim.

9. Indemnification.

9.1 The User agrees to indemnify, defend, and hold harmless RentFund, its affiliates, officers, directors, employees, agents, and representatives from and against any claims, liabilities, damages, losses, or expenses, including reasonable legal fees, arising out of or in connection with the User's use of RentFund services, breach of these Terms, or violation of any law or the rights of any third party.

10. Governing Law.

10.1 These Terms shall be governed by and construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein, without regard to its conflict of laws principles.

11. Dispute Resolution.

11.1 Any dispute arising out of or in connection with these Terms or the use of RentFund services shall be resolved exclusively through binding arbitration in accordance with the rules of the ADR Institute of Canada, Inc. The arbitration shall take place in Calgary, Alberta, and shall be conducted in English.

12. General Provisions.

12.1 Entire Agreement. These Terms, along with the Privacy Policy, constitute the entire agreement between the Parties and supersede all prior agreements or understandings, whether written or oral.

12.2 Severability. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

12.3 Waiver. No waiver of any provision or breach of these Terms shall be deemed a waiver of any other provision or subsequent breach.

12.4 Force Majeure. RentFund shall not be liable for any failure or delay in the performance of its obligations due to causes beyond its reasonable control, including but not limited to acts of God, natural disasters, government actions, or labor disputes.

12.5 Assignment. The User may not assign or transfer these Terms or their rights and obligations hereunder without the prior written consent of RentFund. RentFund may assign or transfer these Terms without restriction.

13. Contact Information. For questions or concerns regarding these Terms, please contact RentFund at: 

Email: support@rentfund.com 

Mailing Address: RentFund Inc. Suite 2200, 555 - 4th Ave. SW Calgary, Alberta T2P 3E7