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 Speedrent, Guarantee Deposit Scheme (ask opinion)

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JianNinety
post Apr 12 2016, 12:01 PM

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Hmm, if tenant cannot cough up 3 months deposit can still get credit card? Assuming gen X/Y is the target segment.
JianNinety
post Apr 12 2016, 12:22 PM

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QUOTE(wheimeng @ Apr 12 2016, 12:17 PM)
We built this with Gen X/Y in mind. But ever since we launched 4 weeks ago, the requests came from various groups because it also address the need of managing cash flow or conserving emergency savings.

If tenant's credit card has exceeded its credit limit, and unable to pay that down - it is the first indicator to a highly probable financial distress. With cash payment, it's hard to know anything.

Another benefit to this - totally seamless and automated solution. No more bank checking on rent payment or to call up to chase for rental.
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Seems like a well thought out business model. Wish you smooth sailing in the future. thumbup.gif thumbup.gif thumbup.gif
JianNinety
post Apr 12 2016, 04:23 PM

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QUOTE(cybertechmkteo @ Apr 12 2016, 04:15 PM)
thanks for all the explanation and sounds good for owner, but for tenant will they fork out additional 10% just to fork out the processing fee?

so far do u have any successful tenancy that you've already done?

btw, what about the half price for the 1st month rental? mind to explain a bit?

thx.
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1. Tenants can't pay 3 months deposit.
2. Tenants pay 10% extra rental.
3. Tenants reduced savings because pay extra rental.
4. Reduced savings, tenants can't pay 3 months deposit.

Hmm, seems like a vicious cycle in the making. Kesian all the tenants. This arrangement like only benefit owners and Speedrent.

This post has been edited by JianNinety: Apr 12 2016, 04:23 PM
JianNinety
post Apr 12 2016, 05:12 PM

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QUOTE(aaron1717 @ Apr 12 2016, 04:26 PM)
maybe when you are an property owner who wanted to rent out your house... you will be looking for things like this as well?
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I am just looking out for the tenants also ma.

QUOTE(natman @ Apr 12 2016, 04:28 PM)
What u say if tenants stay 1 mth with 50% off and no deposit but paying extra 10% for service ?

there is no agreement and nothing so tenant may move out from 1 unit to another unit or place ?
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1 month 50% discount then 11 months +10% so its still 60% increase assuming tenancy agreement is 12 months.

No agreement stopping tenant from moving out? Tenancy agreement?
JianNinety
post Apr 12 2016, 05:19 PM

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QUOTE(natman @ Apr 12 2016, 05:18 PM)
the problem is no agreement or if there is one ?
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Read back post 5. Got tenancy agreement.
JianNinety
post Apr 12 2016, 05:25 PM

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QUOTE(samkps @ Apr 12 2016, 05:19 PM)
A big loophole..

Let say market rental RM 2k, I rent the first month, pay RM1k rental, then move out the second month, can? Need to pay fine? I cancel the credit card, can you sue me? Court case because the rental of RM 1K?

Tenancy agreement can tie someone from moving out?  sweat.gif  sweat.gif
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Sorry cannot tie someone from moving out. My error.

 

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