How OpenHouse Works
OpenHouse operates through two distinct phases: a synthetic phase and a real asset phase.
Two Phases
Every property on OpenHouse moves through two phases.
Synthetic: The property hasn't been acquired yet. Your shares are backed by OpenHouse's treasury, and yield comes from treasury funds. You hold contractual rights—not ownership. You can buy and sell throughout this phase.
Real Asset: The property has been acquired and is held by an SPV. Your shares now represent economic rights in that SPV, and yield comes from actual rental income minus the 8% property management fee.
The same shares carry through both phases. There's no swap or migration.
Buying Shares
Connect your wallet or create an account
Complete identity verification (KYC)
Fund your wallet with USDC
Choose a property
Confirm your investment
The transaction completes in seconds. Your shares appear immediately.
Selling Shares
You can sell at any time through the liquidity pool. USDC is credited to your wallet immediately upon confirmation. A sell fee of around 1.5% is deducted from proceeds.
Yield
Yield is distributed monthly based on a snapshot of who held shares at a specific date.
In the synthetic phase, yield comes from treasury funds. In the real asset phase, yield comes from rental income after the 8% property management fee is deducted.
USDC goes directly to your wallet.
Fees
Buy fee: around 1.5% added to your investment.
Sell fee: around 1.5% deducted from proceeds.
Gas fees: none—OpenHouse covers these.
The only ongoing deduction from rental income is 8% property management. Other costs like insurance and maintenance reserves are funded from the initial raise.
On-Chain
Everything runs on Base, an Ethereum layer-2 network. Your shares are standard ERC-20 tokens, verifiable on BaseScan. OpenHouse covers all gas fees.
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