bumped, liked and congrats esp putting yr own money where your mouth is..

it's been a while.. just to share some random thoughts with the sincere hope that both speedrent & speedsign will take off successfully in a big way..

i let the agents do the filtering, but often i close the deal myself.. comm still applies of coz..

commie rental i.e. corporate & retail leasing will still have a small window to explore, coz staff / employee may wanna earn some moolah dealing direct with owners.. the middle range corporate tenant will also prefer to deal direct eith owners, but MNCs usually have their own panel of sourcing agents..

the penetration strategy of zero-down for tenant is a calculated risk not only for the system vendor, but also for the landlord.. by the law of probability given the normal considerations, it may work.. afterall this is a platform, if harnessing the owners / tenants community gains traction from this campaign, it can monetize the traffic for cross-sell to other product and services.. there are many start-ups going purely for flipping-strategy, high burn-rate to accelerate traffic. they will target investors for exit / divestment based of the traffic-CPC-keywords valuation method then only think abt how to monetize the system itself.. i believe you and your team is not that short-sighted..

but bro, imho, this is truly susceptible to fraud attempts despite of the ID verification as there are many cloned cards out there.. i hope u have a manual pattern recognition to sieve it out, not entirely dependent on the automated check&balance.. the fraudsters are usually 2-3 steps ahead esp in the plastic industry.. i wud put a max exposure overall capping i.e. credit policy, as the parameter to control potential losses while being able to test out this solution..

keep it up, go on and disrupt the eco-system.. but communication is key, and engage all parties including the agents.. just my humble 2c..

i beg landlord not to be mistaken for being flexible in opting for this scheme..

more random tots..

system vendor offering "guarantee" scheme is quite daring but may attract some hardcore nip-ticking end-users i.e. unwanted publicity, or hit by a slew of genuine bad-tenants or organised fraudsters..

landlord participating in the scheme may be matched with touch&go tenants, damages / losses > the 3 mths cover..

not all tenants can accept the 10% premium due to the recurring nature as well as relatively bigger ticket size expenses..

maybe, just maybe..

stop-gap measures.. for system vendor, cap the total payout or failure rate.. run it as a campaign with definite timeline.. it is to promote brand awareness anyway..

as well as landlord, try to do min fittings / furnishings.. and in quite a few stratified buildings, they hv already implemented bulk metering for TNB supply.. the digitised system can cut-off the power supply remotely from the management office if it hits a threshhold of usage and when the payable remains outstanding.. all these are independent mitigation systems in manual tenant management if everything else failed..

for tenant, if speedrent can introduce card payments.. then it also mean that it is possible for the tenant to pay the security deposit by card.. they can roll by paying the min amt at lower than 10% charge.. work the math, it shud be cheaper by the end of the year, depending of how much is revolving and the term / duration of the tenancy.. it may solve the deposit part, as well as the top-heavy entry level.. but as is, who will bear the inter-change fee and at what rate, speedrent must earn their margin to be fair..

just my humble tots, still out of job now, retraining myself to stay relevant..

in all fairness, speedrent has identified the target market.. so called, under-served.. perhaps playing a bit on the desperation factor.. it is not a 1-fit-all solution..

it may create another set of problem with the trigger-free plastic generation.. guess what, the more creative ones will even do a balance transfer with zero-interest for 12 mths after swiping.. be it the mthly rental or the one-off security deposit charge..

it's all back to the discipline and integrity of the tenant, if it can be parked into a virtual account which is interest-free, the tenant may end up with forced-savings by the end of the tenancy coz he/she will be able to collect back the deposit refund that were paid by installments.. u get the drift..

yes, janitor boss.. how's yr arcadia trophy? heard quite immune to current sentiments.. maybe won't explode as anticipated, but may still fare better than rest of the commies.. those with holding power like janitor boss will not have to worry, as opposed to those bragging kings waiting to lausai even with a low-end prop..

haha.. thx for bringing back to the topic.. rusty liao, losing focus..

speedrent only requires 50% off rental on 1st mth, commies usually gives 1 month fitting out period.. sure janitor boss hope speedrent will do a commie version lah, untung 1/2 mth.. kekeke..

anw, nice to c u again..

hi BJ commie king.. havent butterfly yet..? invisible but certainly not sleeping like me.. kekeke

hehe.. sure, cocoon senior himself is not too old, in fact the young and capable generation.. myself, trying to break out of the hibernation mode.. waiting to qualify for my janitorship..

back to the topic..

188 boss.. imho, for startups and esp with IT, i mean the technical implementation, anything is possible..

but the biz model and marketing is what sets it apart.. if speedrent oredi has the platform, they are 1 step close and faster than other startups, if the commie rental module shud ever be considered..

i personally think the space is even bigger than the resi.. in terms of ticket size, commie terms and the even esp the weight on agent-dependency ratio.. however, it may well be serving the agents esp on the the sourcing part.. i honestly think that there is a more prominent market gap here..

in a relativity study, iproperty tried to separate out its commie prop into another platform but failed to hit off as they have already trained the market too accustomed to rojak listings.. but ecer wonder why the "tried" to separate the platform..?

anw, i leave you with this office rental model with a twist.. http://flyspaces.com/

i think this is just a marketing initiative to add convenience and alternative to the tenant..

the main challenge (if that's is what;s intended), is to transforming the market, as in to "buy-in" to this transaction method.. this is dwelling into payment transaction services segment already which has even bigger implications..

in the end, if it has gained some form of awareness on the existence of its core biz app i.e. attention, then it may have served part of its purpose and this encourages continuous innovations, not just ideas, but those who really executes it..

like u said, the biz model and the self-regulating mechanics, has to go through the trial period i.e. proof of concept..

m2c..

here's anor one..

https://hostelhunting.com/my/

start-up is trending..