I think Flow's long-term plan is to offer an alternative to mortgages, i.e. rent-to-own with increasing fractional ownership without actually taking out a loan. I think there is a similar startup in the UK.

Not sure why you need tokens here, they are only redundant for loyalty points. The most naive idea is that the tenant receives tokens as a reward for each month of rent paid, and hopes that in the "crypto" bull market these tokens will rise in price so much that it will be possible to buy an apartment ;)

EDIT. The model that makes sense: the more reward tokens you accumulated the larger will be the discount if you'll decide to buy the apartment you are renting. If these tokens will be listed on the secondary markets their price will become linked to the residential real estate prices in the properties operated and owned by Flow.