Soon, there will be virtual tenancy to skim the guarantee payment.

This post has been edited by icemanfx: Apr 13 2016, 10:10 AM

I'm not property agent, but i can see that speedrent has really cut out the middleman like property agent, i think speedrent should come out a platform that agent can also benefit from it so to create a win win to landlord-tenant-agent...

I think the success of this will depend on the number of tenants who are willing to use this platform, as landlord will go where the tenants are. So from tenant's perspective, what are the benefits for using this platform?
Tenants are actually paying 10% extra just so they can avoid the deposit upfront (correct me if I'm wrong), so for those who can afford the deposit, I don't see any benefits for using this platform. Even if I were to put the deposit saved in a fixed deposit, the interest generated will be far lower than the extra 10% I have to pay every month.

i thought so too but then maybe we underestimate the number of young people short of ready cash

agents can advert in speedrent and still pocket one month commission from landlord?

touch and go also practise 10% top up for car parks. a lot of people still uses it.

Speedrent tconcept is bypass and save the agent fee to benefit tenant and owner both side.
I will said property agent company also can provide the same service to tenant and owner, don see the necessary to include property agent in this idea.

I like this idea and coming i will try this services.

Even if this is true, there are other medium out there for you to borrow small sum of cash (Ex: Bank Personal Loan...) to pay rent deposit, which I think has much lower interest than the 10% extra you have to pay every month. And if you can own a credit card, I don't think there's any problem for you to get Bank Personal Loan approved.

any different with ibilik if bypass agent?

Actually this is a platform for rental. Tenant most likely can still proceed to pay the deposit in full if they willing and afford to do so.

Speedrent just provide another alternative for those not afford/willing to do so, but yet want to rent a house, by leveraging their credit card repayment capability.

For landlord, one will trade off the bulk upfront deposit collection with a rental receive on time service.

For tenant, one will trade off the bulk upfront deposit payment with 10% rental surcharge.

Willing landlord, willing tenant, no absolute gain for either party.

This post has been edited by samkps: Apr 13 2016, 09:24 AM

And they have other free services for tenant.. From phone line to Astro. Furniture moving.. Etc. they gain commission from the service providers. Owner also happy no need worry especially dealing with expat.

This post has been edited by HELLO HELLO: Apr 13 2016, 09:29 AM

If speedrent concept is try to eliminate or exclude agents to be part of the system, it will eventually not growing but ended up just surviving or to be ceased.

I can't see that rental price is fixed like selling items in alibaba or taobao. It is still need a negotiation that agent needed to be third party to provide the services to connect the parties.

At this stage, speedrent chance to succeed, i guess is 20/80

I presume the platform provide avenue for landlord and tenant to have direct communication and negotiation?

This post has been edited by samkps: Apr 13 2016, 09:39 AM

Save half month rental but to get landlord himself to do the filtering & negotiation and also the preparation of tenancy agreement? personally would rather give agent to do it if rental price is not high..

If rental is RM1000, with speed rent is gonna be RM1100, wondering need to pay GST or not... else RM1160, that's a lot of money for genx/y/z assuming there are already poor to cough up 3k deposit. If the place is rented for 2 years, it is extra payment of RM2400

I presume Speedrent shall provide the tenancy agreement service as well. But it is true enough, some landlords may not have time to deal with all this but some don't mind to have direct communication with the potential tenant. Speedrent provide an alternative choice for the latter group I suppose.

I have advertised my condo in speedrent some months ago, the response is quite lukewarm.

Yes speedrent do provide tenancy agreement service and it only cost RM19.90
i just visited their web page. "Create, Sign Agreement, Pay Stamp Duty With Speedsign For Only RM19.90!"
Speed Rent tenancy agreement

This post has been edited by godlikexioo: Apr 13 2016, 09:59 AM

Even if I am an agent, I would use this app to cater to my clients, when it adds in more features and services. With multiple properties to handle this becomes very helpful. Next you could launch a concierge service for VVIP users who needs the service as they may not be physically around to take care of their properties; cleaning, re-deco to rent easier etc.

Mind to share further?

Speedrent is too fast in cutting out agents from the initial development...
for tenants to look thru their database, no much choices.. so it will be less inquiry to the landlords.
Speedrent really need to fork out a lot of development budgets in promoting their platforms to all the landlord..but i doubt with iproperty, mudah, ibilik etcs. are they able to compete..because rental price is not really a "fixed" price products, and with the additional 10% charges, will tenants happy to pay for the charges?