“This Apartment Has a Story”. Meet the Tenant of PARQ Penthouse 61 — the First Property Sold on Binaryx Marketplace
Meet Roman — a real estate professional and Bali lover who rents the first apartment tokenized by Binaryx Platform.
Every month, he pays $2,050 to PARQ Ubud — the administrator of the residential complex where the apartment is located. This company, serving as the Binaryx Management Oracle, puts the money on the smart contract and distributes it among the property owners as rental income. This is how every investor earns passive income on Binaryx Platform.
Roman has kindly agreed to answer a few questions about himself, his attitude to the idea of tokenization, and about living in a tokenized apartment. Spoiler: he loves it!
– Roman, why did you decide to come to Bali?
– It’s my third time here, and the longest one, currently. I’ve been here for a year so far, and I love everything about Bali: the place, the people who come to the island and work from here, the food, and much more. That’s why I decided to come here again.
– Where did you find this apartment? What caught your attention?
– This is a nice question. I was in Bali during the corona time and learned about this PARQ project, so I’ve known about it for at least 2 years. I first visited it when no one was living here and nothing was ready.
When I was back home, I already knew about this apartment — and when I had a plan to come to Bali again, I knew where I should go. I contacted a PARQ manager and asked them about the possibility to rent something here.
– You’ve been living in this apartment for almost one month. How do you like it so far?
– I lived in 3 other apartments in PARQ and I like this one the most. This is the best apartment because there’s an amazing view here which others don’t have. It’s a very quiet place and I have everything that I need here: a bed, a sofa, and a kitchen. I like the infrastructure of the PARQ area. I love everything about this place!
– How much do you pay per month? Have you signed a long-term rental agreement?
– I’ve signed a rental agreement for 1 year. I pay over $2,000, it’s more than 30 million IDR (Indonesian Rupiah, the local currency).
[Editor’s note: Roman’s monthly rent is $2,050. $350 of this sum is spent on property management, utilities, maintenance reserve, and so on. $1700 is put on the smart contract and distributed among property token owners, which gives the 12% APR. We will explain the numbers in more detail in future posts.]
– Do you know that this apartment has been tokenized and sold to 200 investors from across the world using the blockchain? How does it feel to live in such an apartment?
– Of course, I know. I know the team, I know the guys who do this stuff with the apartment. I like this idea of tokenization a lot. Yes, I had a chance to buy a piece of this apartment, but I was on a trip to Singapore and I didn’t find the time to do it. Wow, this apartment was sold out in 14 hours — I just didn’t have a minute to buy a piece! But I really like the idea of tokenization. It’s very nice to touch this idea of something from the future, this business model. I like to live here, and this apartment has a story.
– What do you think of tokenization?
– I like the idea of tokenization. The second time when I was in Bali and then came back home, I really wanted to start a project with the tokenization of real estate. But I didn’t find a nice team for that, and the government was not so ready, the laws just wouldn’t let that go. So I didn’t find a nice team, but you did it and that’s a very good thing!
– Say hi to the apartment’s co-owners!👋
– Hi, nice to meet you! If you have any questions about the apartment, let me know. Ask the team and they will forward your question to me. You’ve made a great choice to invest in this apartment!
