Having the depo does reflect the financial strength for sure. You may ask banker on those who can pay higher upfront payment for car loan compare to lower group. Statistic doesn't lie. But your side has leveraged on credit card auto debit which mitigated yoir risk in certain extend. Tenant ll borrow more via cc for sure going forward. With rental also can pay via credit card, it ll make the gen Y cc debt to go higher, definitely. They may not terminate the card until really everything gone wrong as they may still want to pay rent via credit card as source to enjoy life and to have roof on top their heads. Your estimation of 5 to 10pc of bad apples could be a bit of optimistic. Being involved in behaviour credit scoring works, and if I set the income n age group right (guess your customer segment), 10 to 20pc ll be a more realistic. 10pc fees charge cannot even cover your more 1.5months when default happens in his last two months not to say if happen in early month. Well, not to be worried, the expected loss equal to PD x EAD x LGD. PD part you cannot do anything as you don't do filtering for ppls who take up this scheme, but you can think more to mitigate your risk on EAD and LGD part. Smart fella like you guys surely can resolve it. Simply asking for two cc accounts instead of one will easily help on your LGD part. Good luck. No matter what, it is fantastic idea! Speedrent rock!

This post has been edited by MrHunter: Apr 13 2016, 01:01 AM

No luck on speedrent too. Place few properties there but all eventually rented via agents. Maybe more owners aware this app than tenants. . More marketing works are needed.