Elements Estates Rent/Purchase Case Scenario #1
Meet Judy, ELES token holder buying an apartment for her holidays and for potential passive income from renting out.
(All the persons and projects are fictive and are created only for the representative purpose to show some of the possibilities ELES token holders will be able to enjoy)
Meet Judy, Judy is a businesswoman from London, England. During the Elements Estates pre-sale Judy has bought and acquired 300.000 ELES tokens to buy an apartment for her holidays. She also plans to rent it to other people during her absence, to generate a passive income. She did this mostly because she is already planning to find an apartment in Greece or Cyprus for a purchase. Judy plans to enjoy the apartment herself for 2 months over the year and to put it for a rent for the remaining 10 months.
The ELES Tokens, together with the ELES Platform, give Judy the opportunity to vote on her favorite property in her chosen countries, Greece and Cyprus. She decides to go with Greece. She clicks on her desired country in the Elements Estates Pipeline section. She sees an eight-apartment Villa near the sea that can be voted on and acquired by the Elements Estates Fund, and can be voted on. The project is in its final stage and needs final refurbishments of the building.
In case the project gets the most votes of the community, the Elements Estates team acquires the real estate and starts renovation with the local SPV. When the building is finished and ready for sale, Elements Estates team represents the real estate in local real estate listings and also puts the real estate for sale on the ELES platform. All the platform users are informed about the listed real estate and can start changing their ELES tokens for ownership over the apartments, while the Fund, together with external partners, manages the maintenance of the building. And Judy does exactly that.
Judy likes the smaller apartment that is at that moment priced at 250.000 ELES tokens on ELES platform. She decides to change the tokens for the ownership of this apartment and simply starts the purchase procedure over the ELES platform. Through smart-contract Judy secures the apartment with down-payment of ELES tokens. As the Greece at the moment still does not have fully digitalized land registries and local legislation that would enable the fully digitalized ownership transfer, the last step — the contract signature that confirms the new owner — has to be done physically. She decides to do this after she will travel to Greece the next time.
In the meantime Judy has 2 options to make sure that she gets her dream apartment. She can purchase the apartment over the ELES platform that will then have this apartment signed to her and put it out of the sale process. Besides, she can also sign a digital contract with the fund to put her apartment to rent from October to July and provide all the utility services for this apartment (cleaning, passing the key etc.). When renting out this apartment, Judy will receive the payment in ELES tokens that she can then exchange to fiat currency through a partnering exchange, use it to rent, or purchase additional real estate from the ELES platform, or simply just save and grow with the value of company and its ELES value.
Judy had a plan and the money to purchase the aforementioned apartment in whole.
