InRento, the real estate crowdfunding platform regulated in Lithuania, sent its Q3 2026 investor update on October 22, 2026. It is the first quarterly letter from new CEO Bernardas Preikšaitis, who took over on September 15, 2026. The headline is strong funding growth, up 76.4% on the same quarter last year. But the letter also discloses that two Polish projects, Harfowa 10 in Warsaw and J48 in Łódź, have delayed interest payments and are in recovery, while the platform’s public pages still show 0% defaulted projects. Below: the numbers, what the letter says about the two projects, what I could and could not verify, and what it means if you are considering InRento.
Disclosure: this article contains an affiliate link. If you invest through it, I may earn a commission at no extra cost to you. That does not change the figures below, and a bonus is never a reason to invest by itself.
A note on sources: the letter is an email to investors. I did not find it on InRento’s blog on October 22, 2026, so the figures below are as reported by InRento and I could not check them against a public document.
The quarter in numbers
| Metric | Q3 2026 | 1 Jan to 30 Sep 2026 |
|---|---|---|
| Investments funded | €23.49 million | €56.88 million |
| Investor earnings (interest and capital gains paid) | €2.08 million | €5.14 million |
| Principal returned to investors | €4.25 million | €12.13 million |
Funding in Q3 2025 was €13.31 million, so the quarter is 76.4% higher on InRento’s figures. As of September 30, 2026, InRento reports:
| Measure (30 September 2026) | InRento figure |
|---|---|
| Total funded since inception | €129.36 million |
| Actual annual return | 11.56% |
| Active loan portfolio | €92.78 million |
| Late interest | €44,007.08 |
| Defaulted principal | €0 |
Source: InRento Q3 2026 investor update (October 22, 2026). Q3 and year-to-date figures are from the company’s September 30 reporting snapshot.
Four projects realised in Q3
| Project | Principal repaid | Projected return | Actual return |
|---|---|---|---|
| Stay Express Hotel, Vilnius | €958,970 | 9.00% | 9.60% |
| H2O, Kaunas | €414,700 | 9.90% | 10.19% |
| A32, Katowice | €350,000 | 9.25% | 10.34% |
| D31, Vilnius | €727,000 | 10.75% | 11.07% |
The four repayments add up to €2,450,670, which matches the €2.45 million in the letter. Returns are project-level averages, so individual investors and tranches may differ. For A32 in Katowice the final repayment was late because of the notarial process, and investors received €10,658.60 in contractual late-payment penalties.
Where the new money went
According to the letter, about half of the summer financing was in Poland, and the first Finnish project, Noa Villas (an operating resort in Lapland), raised €5 million. Romania is described as a growing part of the portfolio, with Royal Palace in Bucharest as the example. InRento says it now operates in eight European markets, and notes that diversification across markets does not by itself guarantee investment security.
Harfowa 10 and J48: what the letter says
- Harfowa 10, Warsaw: after an unsuccessful property sale, the project owner could not pay the interest. In September InRento issued a notice terminating the loan agreement and demanded repayment of the outstanding debt. It says it is pursuing further recovery measures, including potential mortgage enforcement.
- J48, Łódź: the owner’s planned property sale, meant to cover the overdue interest, was delayed. After the payment deadline was missed, InRento started formal recovery of the overdue interest and penalties on October 1.
Both loans are secured by first-rank mortgages. The letter itself adds that recovery can take time and that mortgage security does not guarantee repayment or remove the risk of capital loss.
What the letter does not say: how much is outstanding on each project, the loan-to-value, how long recovery is expected to take, any estimate of loss, or whether any money has been recovered so far. The only amount it discloses is €44,007.08 of late interest as of September 30, so the principal exposure of the two loans cannot be read from the letter.
Delay or default?
InRento’s table shows defaulted principal of €0 and the letter speaks of delayed interest payments. Yet for Harfowa 10 the loan agreement has been terminated and repayment of the debt demanded. So “0% defaults” is accurate under InRento’s own definition, but I would read it as “no principal formally defaulted yet”, not “no problem loans”. On October 22, 2026, the page text I reviewed on InRento’s homepage still showed 0% defaulted projects, and the Harfowa 10 project page showed no notice of delay. The letter also promises project-specific updates as the situations develop, so the next ones are worth reading.
The 11.56% headline return
The letter does not define “actual annual return”. It matches the figure on the homepage, and the realised-project returns above are project-level averages. As a rough check using only the letter’s own numbers: Q3 investor earnings of €2.08 million, annualised (about €8.3 million), over the €92.78 million active portfolio is roughly 9%. This is not an official figure, because earnings include capital gains and the portfolio changed during the quarter. The point is only that the average of finished projects is not what an investor should assume for a whole portfolio after late interest, idle cash and tax.
One small reconciliation point: at the end of the first half InRento reported €34.03 million funded in 2026 (Q2 update, July 8, 2026). Adding the €23.49 million from Q3 gives €57.52 million, while the new letter says €56.88 million year to date. The €0.64 million difference is not explained and may be a reclassification.
What this means if you are considering InRento
- Regulation: UAB Inrento is listed in the Bank of Lithuania register with crowdfunding service provider licence No. 9, granted on November 10, 2023. According to InRento’s FAQ, investments are not covered by deposit guarantee schemes, and the FAQ itself says you may lose some or all of your invested funds. A licence is not protection against losses.
- Security and exit: the FAQ says mortgage-based protections do not guarantee that your capital will be repaid in full. The secondary market works as a bulletin board: there is no guarantee you will find a buyer or sell at your preferred price, and a 2% fee currently applies to sales.
- Ticket and tax: the minimum is €500 per project (InRento FAQ). In its tax notice of February 10, 2022, InRento said interest of non-Lithuanian residents was taxed at 15%, with lower treaty rates available on request through the DAS-1 form and a tax residency certificate. Check the current rate with InRento.
- Recovery takes time: the letter itself says recovery can take time and that mortgage security does not guarantee repayment.
- New CEO, stated priorities: earlier information from borrowers, closer monitoring of milestones and repayment plans, and clearer investor updates. The test will be how Harfowa 10 and J48 are communicated and resolved.
- Practical: if you start, spread a small first investment across more than one project and treat the overdue projects as a reminder that returns are not guaranteed.
Sign-up bonus
InRento runs sign-up bonuses for new investors from time to time. A bonus only applies if you register through the promo link: a link to InRento’s regular page will not trigger it, so use this promo link and check the current amount, minimum investment, period and country restrictions on InRento’s own website before you invest. I keep the offers I have checked on the Cash-back & Bonuses page. The bonus is small next to the capital at risk, so decide on the projects, not the promo. For context on how crowdfunding compares with other asset classes, see REITs vs real estate crowdfunding.
Sources
- InRento: Q3 2026 investor update (email to investors, October 22, 2026; not publicly posted at the time of writing)
- InRento: Q2 2026 Investors Update (July 8, 2026)
- InRento homepage statistics (checked October 22, 2026)
- InRento milestones, including the CEO change on September 15, 2026
- InRento: Harfowa 10, Warsaw project page (checked October 22, 2026)
- InRento: FAQ (checked October 22, 2026)
- InRento: Important information about taxes (February 10, 2022)
- Bank of Lithuania: crowdfunding service provider licence, UAB Inrento (checked October 22, 2026)
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Real estate crowdfunding carries risk, including the possible loss of some or all of your capital, delays in payments and limited liquidity. Figures are from the sources listed and are time-stamped as stated; check current terms directly on the platform before investing. This article contains an affiliate link; if you sign up through it, I may earn a commission at no extra cost to you.
