Terms of Use

Effective date: May 7th, 2024.

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 ON THE PREVIOUS WINDOW, YOU ACCEPT AND AGREE TO BE BOUND AND COMPLY WITH THESE 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.


2. User. User 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 RentFund Credits (as defined below), is conditional upon timely and continued payment of Subscription Fees.

2.1 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


2.2 User hereby acknowledges and agrees that Subscription Fees paid by the User are fully non-refundable and do not comprise any portion of the RentFund Credits (as defined in Section 4 below).


3. Rent Payment Verification. User may submit documents evidencing rent paid for their primary residential residence (“Rent 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 Verification may only be completed for Rent Payments made within the immediately preceding thirty (30) day period. User hereby acknowledges and agrees that verification will not be completed for any Rent Payment made more than thirty (30) days prior to date documents are submitted for verification.


3.3 RentFund shall review documents submitted pursuant to Section 3.1 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 3.1 herein does not guarantee that Rent Payments will be successfully verified.

3.5 User 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.

4. RentFund Credits.


4.1.1 An amount equal to 5% of User Verified Rent Payments shall be recorded to the User RentFund account and displayed on the App as the available “RentFund Credits”.


4.1.2 The RentFund Credits shall be available to the User solely and exclusively as contribution towards the User Qualifying Home Purchase through RentFund’s Preferred Partners.


4.1.3 User hereby acknowledges and agrees that the amount of the RentFund Credits received by the User shall not be less than an amount equal to one (1) percent of the purchase price of the Qualifying Home Purchase. For example, in purchasing a home for $500,000.00, the RentFund Credits paid to the User shall in no circumstances exceed $5,000.00. Should amount of available RentFund Credits accumulated by the User exceed one (1) percent of the purchase price of the User Qualifying Home Purchase, the RentFund Credits paid by RentFund shall be adjusted such that the RentFund Credits paid shall equal one (1) percent of the purchase price of the Qualifying Home Purchase.

4.1.4 The RentFund Credits shall in no circumstances be paid directly to the User but shall be paid into the trust account of the Preferred Lawyer (as defined in Section 6 herein) retained by the User.

4.2 Fund Booster Feature.

4.2.1 User may enhance their RentFund Credits by utilizing the “Fund Booster” feature, which allows for verification of up to 24 months of past Rent Payments.

4.2.2 The Fund Booster feature is available at a cost of $7.99 per verified month, with a maximum of 24 months available for verification.

4.2.3 To use the Fund Booster feature, User must upload appropriate documentation such as bank statements and lease agreements proving they made these Rent Payments over the last 24 months. User cannot include previous payments that have already been verified on RentFund; only new Rent Payments that have not already been verified and credited can be used.

4.2.4 Verified Rent Payments through the Fund Booster feature will contribute to RentFund Credits in the same manner as regular Rent Payments, at a rate of 5% of Verified Rent Payments.

4.3 Credit Builder Feature.

4.3.1 The Credit Builder feature allows User to build their credit score by reporting their Verified Rent Payments to Equifax Canada.

4.3.2 The Credit Builder feature is available to the User at an additional price set out at; www.rentfund.com/pricing, and User must maintain the service for the entire duration of their lease agreement.

4.3.3 If User misses a payment under the Credit Builder feature, it will negatively impact their credit score unless written notice is provided to RentFund that the lease agreement has been terminated.

4.3.4 Consent to Terms of Use for RentFund Credit Builder

(a) Agreement to Report Rent Payments to Equifax Canada

Introduction
By using RentFund's Credit Builder feature, you acknowledge and agree to the following terms and conditions. Please read these terms carefully, as they outline how your rent payment information will be reported to Equifax Canada.

Terms and Conditions

(i) Reporting of Rent Payments
By using the Credit Builder feature, you consent to RentFund reporting your rent payments—whether on time, late, or missed—to Equifax Canada. This reporting will continue for the full duration of your lease agreement unless you provide proof of lease termination to RentFund.

(ii) Duration of Reporting
RentFund will report your rent payments to Equifax Canada on the date and time each payment is due. This reporting will continue throughout your entire lease period unless terminated as per the conditions outlined.

(iii) Impact on Credit History
a. On-Time Payments: Rent payments made on time will be reported positively and may enhance your credit history.
b. Late Payments: Late payments will be reported as such and could negatively impact your credit history.
c. Missed Payments: Missed payments will be reported and will negatively impact your credit history.

(iv) Lease Termination
If you terminate your lease, you must notify RentFund and provide evidence of the termination. Once RentFund has verified this information, we will cease reporting your rent payments to Equifax Canada.

(v) Consent
By continuing to use the Credit Builder feature, you agree to these terms of use and understand that your rent payments will be reported to Equifax Canada as described.

By using the RentFund Credit Builder feature, you consent to these terms of use. Your continued use of this feature indicates your acceptance of these conditions and your understanding of the impact on your credit history.

4.4 Refund Insurance Feature.

4.4.1 The Refund Insurance feature allows the User to receive a full refund of all RentFund Subscription Fees paid from the date of the Refund Insurance purchase, provided the User does not complete a Qualifying Home Purchase using RentFund Credits. Pricing for the Refund Insurance is set out at: www.rentfund.com/pricing

4.4.2 To be eligible for the refund, the User must notify RentFund in writing through the App that they do not intend to use their RentFund Credits for a Qualifying Home Purchase.

4.4.3 The refund of Subscription Fees under this feature shall only apply to Subscription Fees paid after the purchase of the Refund Insurance. Fees paid prior to the purchase of the Refund Insurance are not eligible for a refund.


5. Qualifying Home Purchase. A purchase for which the User shall be eligible to receive the RentFund Credits must be a purchase of Residential Real Property (as defined in the Excise Tax Act, RSC 1985, c E-15) that is situated in Canada (a “Qualifying Home Purchase”). For clarity, User shall not be eligible to receive the RentFund Credits for any purchase other than a Qualifying Home Purchase.


5.1 To initiate request of the RentFund Credits, the User shall submit to RentFund through the App, copies of the fully executed and unconditional purchase contract and any corresponding amendments, addendums, or notices with respect to the Qualifying Home Purchase, as well as any other documentation RentFund may request.


6. Preferred Partners. RentFund maintains a list, available at www.rentfund.com (the “Preferred Partner List”), of preferred partners in three categories (1) Real Estate Agents (each, and “Preferred Agent”); (2) Mortgage Brokers (each, a “Preferred Broker”); and (3) Real Estate Lawyers (each, a “Preferred Lawyer”) (collectively the “Preferred Partners”).


6.1 User hereby acknowledges and agrees that eligibility to receive payment of the RentFund Credits, is expressly conditional upon User retaining the services of three Preferred Partners, one from each of the three categories listed in Section 6 herein, in completing a Qualifying Home Purchase. For clarity, User shall forfeit the right to receive payment of the RentFund Credits if they complete a Qualifying Home Purchase without the services of a Preferred Partner.


6.2 The Preferred Partner List shall be subject to change from time to time at the sole and unfettered discretion of RentFund. Should a Preferred Partner retained by User cease to be a Preferred Partner at any time prior to completion of the Qualifying Home Purchase, the User hereby covenants and agrees that it shall retain a new Preferred Partner from the then current Preferred Partner List. In no circumstance shall RentFund be liable for any expenses incurred by the User in terminating User's engagement with any previous Preferred Partner pursuant to this Section 6.2.


6.3 User shall promptly notify RentFund of each Preferred Partner retained by the User and shall provide any such documentation confirming these retainers as may be requested by RentFund. User further agrees that RentFund may, at RentFund’s discretion, contact Preferred Partners directly confirm User’s retainer.

7. Term and Termination.


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


7.2 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’s sole and unfettered discretion. Where such breach or default is reasonably capable of cure, termination shall be effective 10 days following written notice to the User where such default or breach has not been cured to RentFund’s satisfaction within said 10-day period.

(b) Termination by User: User may terminate these Terms at any time, effective immediately upon written notice to RentFund or upon deletion of the User’s account through the App.

7.3 Lapse of RentFund Credits Upon Termination. User hereby acknowledges and agrees that upon any termination of these terms, pursuant to Section 7.2 herein, any and all RentFund Credits accumulated by the User shall immediately lapse, and the User shall have no right to request payment from RentFund for any RentFund Credits. For clarity, should these Terms be terminated at any time, and User later re-commences Subscription, any previously accrued RentFund Credits shall not be retained nor carry-over.


8. Rent Fund's Responsibilities. For clarity, RentFund shall not be responsible for the following:


(a) Reminding, facilitating, or completing payment of User’s rent payments;

(b) Facilitating correspondence between User and any Preferred Partner;

(c) Assisting in search for or negotiation of purchase terms for User’s Real Property Purchase; and

(d) Any of User’s responsibilities, as set out herein.

9. Representations and Warranties.

9.1 RentFund's Representations and Warranties. RentFund represents and warrants to
User's that:


(a) It is a corporation duly incorporated and validly existing in the jurisdiction of its incorporation;

(b) It is duly licensed or registered to carry on business in every jurisdiction in which such license or registration is required for purposes of these Terms, except where the failure to be so licensed or registered, in the aggregate, would not reasonably be expected to adversely affect its ability to perform its obligations under these Terms;

(c) It has the right, corporate power, and capacity to enter into these Terms, to grant the rights and licenses granted under these Terms and to perform its obligations under these Terms;

9.2 User’s Representations and Warranties. User represents and warrants to RentFund that:

(a) User is of the legal age of majority under applicable law to form a binding contract with RentFund and meet all the foregoing eligibility requirements;

10. Limitations of Liability and Indemnification.


10.1 USER UNDERSTANDS AND AGREES THAT USE OF THE APP, ITS CONTENT, AND ANY SERVICES OR ITEMS FOUND OR ATTAINED THROUGH THE APP IS AT USER’S OWN RISK. THE APP, ITS CONTENT, AND ANY SERVICES OR ITEMS FOUND OR ATTAINED THROUGH THE APP ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. THE FOREGOING DOES NOT AFFECT ANY WARRANTIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.


10.2 NEITHER RENTFUND NOR ITS PARENT, SUBSIDIARIES, AFFILIATES, OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, CONTRACTORS, LICENSORS, LICENSEES, SUPPLIERS, OR SUCCESSORS MAKE ANY WARRANTY, REPRESENTATION, OR ENDORSEMENT WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, SUITABILITY, ACCURACY, CURRENCY, OR AVAILABILITY OF THE APP OR ITS CONTENTS. WITHOUT LIMITING THE FOREGOING, NEITHER RENTFUND NOR ITS PARENT, SUBSIDIARIES, AFFILIATES OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, CONTRACTORS, LICENSORS, LICENSEES, SUPPLIERS, OR SUCCESSORS REPRESENT OR WARRANT THAT THE APP, ITS CONTENT, OR ANY SERVICES OR ITEMS FOUND OR ATTAINED THROUGH THE APP WILL BE ACCURATE, RELIABLE, ERROR-FREE, OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT THE APP OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.


10.3 RENTFUND CANNOT AND DOES NOT GUARANTEE OR WARRANT THAT FILES OR DATA AVAILABLE FOR DOWNLOADING FROM THE INTERNET OR THE APP WILL BE FREE OF VIRUSES OR OTHER DESTRUCTIVE CODE. USER IS SOLELY AND ENTIRELY RESPONSIBLE FOR ITS USE OF THE APP, INTERNET, AND DATA SECURITY. TO THE FULLEST EXTENT PROVIDED BY LAW, RENTFUND WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY DENIAL-OF-SERVICE ATTACK, DISTRIBUTED DENIAL-OF-SERVICE ATTACK, OVERLOADING, FLOODING, MAILBOMBING, OR CRASHING, VIRUSES, TROJAN HORSES, WORMS, LOGIC BOMBS, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT MEMBER’S COMPUTER EQUIPMENT, COMPUTER
PROGRAMS, DATA, OR OTHER PROPRIETARY MATERIAL DUE TO USER’S USE OF THE APP OR ANY SERVICES OR ITEMS FOUND OR ATTAINED THROUGH THE APP OR TO USER’S DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.

10.4 EXCEPT WHERE SUCH EXCLUSIONS ARE PROHIBITED BY LAW, UNDER NO CIRCUMSTANCE WILL RENTFUND NOR ITS PARENT, SUBSIDIARIES, AFFILIATES OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, CONTRACTORS, LICENSORS, LICENSEES, SUPPLIERS, OR SUCCESSORS BE LIABLE FOR NEGLIGENCE, GROSS NEGLIGENCE, NEGLIGENT MISREPRESENTATION, FUNDAMENTAL BREACH, DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING, BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT, BREACH OF CONTRACT, BREACH OF PRIVACY, OR OTHERWISE, EVEN IF THE PARTY WAS ALLEGEDLY ADVISED OR HAD REASON TO KNOW, ARISING OUT OF OR IN CONNECTION WITH USER’S USE, OR INABILITY TO USE, OR RELIANCE ON, THE APP, ANY LINKED WEBSITES OR SUCH OTHER THIRD-PARTY WEBSITES, NOR ANY APP CONTENT, MATERIALS, POSTING, OR INFORMATION THEREON.

10.5 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, USER AGREES TO DEFEND, INDEMNIFY, AND HOLD HARMLESS RENTFUND, ITS PARENT, SUBSIDIARIES, AFFILIATES, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, CONTRACTORS, LICENSORS, SUPPLIERS, SUCCESSORS, AND ASSIGNS FROM AND AGAINST ANY CLAIMS, LIABILITIES, DAMAGES, JUDGMENTS, AWARDS, LOSSES, COSTS, EXPENSES, OR FEES (INCLUDING REASONABLE LEGAL FEES) ARISING OUT OF OR RELATING TO USER’S BREACH OF THESE TERMS OR USE OF THE APP.


11. Taxes. RentFund shall have no liability or responsibility for withholding or remitting any income, payroll, or other federal or provincial taxes for the User. User is solely responsible for these withholding, remitting and registration obligations, and shall indemnify RentFund from and against any order, penalty, interest, taxes or contributions that may be assessed against RentFund due to the failure or delay of User to make any such withholdings, remittances or registration, or to file any information required by any law.


12. Miscellaneous.


12.1 Further Assurances. Upon a Party's reasonable request, the other Party shall, at its sole cost and expense, execute and deliver all such further documents and instruments, and take all such further acts, as reasonably necessary to give full effect to these Terms.


12.2 Entire Agreement. These Terms, including the RentFund Privacy Policy and Website Terms and conditions (available at www.rentfund.com/privacy / www.rentfund.com/website-terms) all related exhibits, schedules, attachments, and appendices, constitutes the sole and entire agreement of the Parties regarding the subject matter contained herein and therein, and supersedes all prior and contemporaneous understandings, agreements, representations, conditions, and warranties, both written and oral, regarding such subject matter.

12.3 Notices. All notices, requests, consents, claims, demands, waivers, and other communications under these Terms (each, a "Notice") must be in writing and addressed to the other Party at its address set forth below (or to such other address that the receiving Party may designate from time to time in accordance with this Section). Notices sent in accordance with this Section will be deemed effectively given: (a) when received, if delivered by hand, with signed confirmation of receipt; (b) when received, if sent by a nationally recognized overnight courier, signature required; (c) when sent, if by facsimile or email, in each case, with confirmation of transmission if sent during the addressee's normal business hours and on the next business day if sent after the addressee's normal business hours; and (d) on the 1st day after the date mailed by certified or registered mail by the Canada Post Corporation, return receipt requested, postage prepaid.

Notice to RentFund: Email: [email protected]

Physical Address: 10001 Bellamy Hill Rd, Edmonton, AB T5J 3B6


12.4 Interpretation. For purposes of these Terms: (a) the words "include", "includes" and "including" are deemed to be followed by the words "without limitation"; (b) the word "or" is not exclusive; (c) the words "herein", "hereof," "hereby", "hereto", and "hereunder" refer to these Terms as a whole; (d) words denoting the singular have a comparable meaning when used in the plural, and vice-versa; and (e) words denoting any gender include all genders. Unless the context otherwise requires, references in these Terms: (x) to sections, exhibits, schedules, attachments, and appendices mean the sections of, and exhibits, schedules, attachments, and appendices attached to, these Terms; (y) to an agreement, instrument or other document means such agreement, instrument, or other document as amended, supplemented, and modified from time to time to the extent permitted by the provisions thereof; and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. The Parties drafted these Terms without regard to any presumption or rule requiring construction or interpretation against the Party drafting an instrument or causing any instrument to be drafted. The exhibits, schedules, attachments, and appendices referred to herein are an integral part of these Terms to the same extent as if they were set forth verbatim herein. Unless otherwise stated in these Terms, all dollar amounts referred to in these Terms are stated in Canadian currency.


12.5 Headings. The headings in these Terms are for reference only and do not affect the interpretation of these Terms.


12.6 Severability. If any term or provision of these Terms is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of these Terms or invalidate or render unenforceable such term or provision in any other jurisdiction.

12.7 Amendment and Modification. These Terms may be subject to change from time to time at the sole and unfettered discretion of RentFund. User is hereby advised to regularly check for updates or revisions to these Terms, which shall be available at: www.rentfund.com/terms.

12.8 Waiver.


(a) No waiver under these Terms is effective unless it is in writing and signed by the Party waiving its right.


(b) Any waiver authorized on one occasion is effective only in that instance and only for the purpose stated and does not operate as a waiver on any future occasion.


(c) None of the following constitutes a waiver or estoppel of any right, remedy, power, privilege, or condition arising from these Terms:


(i) any failure or delay in exercising any right, remedy, power, or privilege or in enforcing any condition under these Terms; or


(ii) any act, omission, or course of dealing between the Parties.

12.9 Successors and Assigns. These Terms are binding on and enures to the benefit of the Parties to these Terms and their respective permitted successors and permitted assigns.

12.10 Choice of Law. All matters arising out of or relating to these Terms are governed by and construed in accordance with the laws of the Province of Alberta, and the federal laws of Canada applicable therein.