In Detroit, renters are trapped amid ongoing disrepair in properties owned by RealT, a cryptocurrency real estate venture. The company sells fractional ownership to global investors, who remain disconnected from tenant concerns. Many tenants face eviction threats without notice, lack leases, and cannot contact a property management entity for urgent repairs. While RealT claims to revolutionize real estate investment, its approach has resulted in a deterioration of living conditions and confusion among renters regarding rent payments and property maintenance.
Detroit renters relying on RealT are facing unaddressed issues in their homes as the cryptocurrency-based ownership model has left them feeling abandoned.
With RealT having sold fractions of its properties to thousands of foreign investors, tenants struggle to identify management for urgent repairs.
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