Ah I see. That's quite a bit ain't it at 60% per annum.
On the other hand, I would rather not rent to someone who can't fork out the deposits.

Thanks for all the feedback, I try to respond to every query possible because this helps us to strengthen our business case.

@max_cavalera – we are raising money now ☺

@cybertechmkteo – we are very transparent. We launched 3-4 weeks ago, and on a very low profile manner. So far we closed a few deals. On ½ month rent – by using Speedrent, landlord and tenant deal direct without hiring agent. The 1-month commission is saved. We encourage landlord to incentivize tenant to rent direct. From tenant POV, rent through agent or direct? I think it’s an easy choice.

@natman – yes, it’s 3 months, just like your cash deposit buffer period.  There is tenancy agreement. And if they move out in a month, our guarantee kicks in. there is no charges to owner.

@jianninety – it’s a trend that younger generation prefer lifestyle. Just because they pay less 10% does not necessary equate to 10% savings in bank, but I don’t deny your logic. We are currently thinking of NCD sort of discount, if good payment record, following years will get reduced rates. The vision is to build a safe, transparent and automated rental platform where everyone be a good actor.

@samkps – you rightly pointed – regardless how nasty tenant, whether you get cash or speedrent scheme, your risk exposure is the same. And we are raising $ from investors to make sure we have great credibility. Speedrent pays on time regardless if we successfully charge credit card or not. I personally put in RM500k into it to get this running, so hopefully it’s sufficient. We will have ways to deal with defaults later on.

@maraippo @satrianeo-x – I’m not sure if you have kids, but I suspect my kids will have problem saving money because it’s just hard to save now. But do I think my kids would be bad tenants? I don’t think so. It’s just an unstoppable trend. I do know many people voice the same opinion and I respect that. Point taken. 

@psyduck89 – just residential only.

@shadow_walker – why not? ☺


      good one i hope you a great success ahead
@kira90 well, even if it’s not through speedrent, we still can do it somewhat.

@hello hello -

Thanks for all the feedback, I try to respond to every query possible because this helps us to strengthen our business case.

@max_cavalera – we are raising money now ☺

@cybertechmkteo – we are very transparent. We launched 3-4 weeks ago, and on a very low profile manner. So far we closed a few deals. On ½ month rent – by using Speedrent, landlord and tenant deal direct without hiring agent. The 1-month commission is saved. We encourage landlord to incentivize tenant to rent direct. From tenant POV, rent through agent or direct? I think it’s an easy choice.

@natman – yes, it’s 3 months, just like your cash deposit buffer period.  There is tenancy agreement. And if they move out in a month, our guarantee kicks in. there is no charges to owner.

@jianninety – it’s a trend that younger generation prefer lifestyle. Just because they pay less 10% does not necessary equate to 10% savings in bank, but I don’t deny your logic. We are currently thinking of NCD sort of discount, if good payment record, following years will get reduced rates. The vision is to build a safe, transparent and automated rental platform where everyone be a good actor.

@samkps – you rightly pointed – regardless how nasty tenant, whether you get cash or speedrent scheme, your risk exposure is the same. And we are raising $ from investors to make sure we have great credibility. Speedrent pays on time regardless if we successfully charge credit card or not. I personally put in RM500k into it to get this running, so hopefully it’s sufficient. We will have ways to deal with defaults later on.

@maraippo @satrianeo-x – I’m not sure if you have kids, but I suspect my kids will have problem saving money because it’s just hard to save now. But do I think my kids would be bad tenants? I don’t think so. It’s just an unstoppable trend. I do know many people voice the same opinion and I respect that. Point taken. 

@psyduck89 – just residential only.

@shadow_walker – why not? ☺

@kira90 well, even if it’s not through speedrent, we still can do it somewhat.

@hello hello -

It is a brilliant idea. At time, I had a potential tenant from Speedrent, she was not able to pay the 2.5 months deposit, but didn't materialized as the tenant could not afford to pay the 2.5 months in one go. If this scheme launched earlier i would be able to close the deal.

@ycs – 3 consecutives failure = termination, and can start to evict.  We don’t perform verification at the moment; everything is between landlord and tenant. We are try to keep as a payment platform.

@mthc – yes, we play a role of payment processing only. The actual is still between you and tenant.

@max_cavalera – thanks for your support, and we need more!!!

@takuro82 – yup, that’s why we need to get more support, and raise $$ to fuel the growth. We are mainly focusing in Klang Valley at the moment.

Check out our launch video last year: https://www.youtube.com/watch?v=4uKO0AQRuyQ

Oh yeah u know why i support ur idea? Coz last time i was con got fella wanna rent from me say he works as exec bla bla bla...then turns out hes an odd job worker....cook i think...then after 2 month mia no more pay rent...naand run away stealing mah washingg machine and other tenant shoes...

So if upfront you guys request credit card autodebit u indirectly screen the tenant 1st...cc minimum income oso at least 2k-2.5-3k....and its not easy to approve cc banks only approve if ur decent working guy with credible proven salary...

I dunwan get cheated again by tenant saying hes an exec and turnout another jobless bum/failed guy and go steal mah house stuff again 😁👌🏻

In your opinion, would she make a good tenant? Did you think she was financially 'bad'?

Just want to see what you thought about unable to pay deposit.

In your opinion, would she make a good tenant? Did you think she was financially 'bad'?

Just want to see what you thought about unable to pay deposit.

This business model attract low credit rating tenants, landlord has no incentive to evict defaulter until after 3rd month rent is paid, could last as long as reserve is available to pay landlord.

If this payment platform fold, landlord will leave without any protection.