What kind of drugs is this business idea on?

I have no issue with an alternate way for tenants to cover their bond obligations however trusting a company like this to make a fair determination on payout is a different matter.

A better solution would be for finance companies to lodge the bond and charge the tenant interest or an annual fee either way the bond can't be pulled even if the tenant fails to make payments. The risk then sits with the company making money from the deal not the landlord.

 

what i meant was if we move away from the bond board holding bonds.

land lord can start demanding deposits and hold it them self.

 

Ah. I doubt that things will go back to LL holding deposits.

 

I did not read the article, but seeing a bond must be lodged, and what chance does anyone think the govt is going to give up on holding a piggybank like that and the associated interest.....

The govt wins all round, they never get the rough end of the stick.

 

Interest made on bond holdings is actually used to fund tenancy support services- a very rare example of the government appropriately using these sorts of funds.

 

What about interest on trust monies ? what about the money they hold for roads e tags, what about for fines etc etc

The point is, they win, try clawing anything back from them without a fights, or in this case, scraping of some service, all these bright ideas people come up with would be bright if they left the funds govt get alone, until then, it is pushing a s*** cart up hill

 

Homevesting is the future of housing

Snug have posted this up as an interesting investment option. Is anyone familiar with it?

I also note that Fairy Floss Real Estate on Facebook is owned by Snug, though it appears to have started as a normal Fb group to bypass estate agents. That's a new development, it'd seem.

 

Agreed that is probably the bigger issue. I understand and broadly agree with the concept of the bond being a "test" for want of a better term, but it is worth noting/remembering that when moving between two rentals the tenants effectively have two bonds outstanding. They haven't received the current one, are paying a new one, plus two weeks rent generally, whilst more than likely covering current rent and moving costs. Potentially they are carrying an effective 12 week (if not more depending on how far away they are from moving) rent liability. Yes people do it all the time, but a strong past rental history both financial and behavioural would be a better indicator for me than requiring a bond loan or something like this.

- Luke