Interesting rental concept
Mar 15th 2009, 3:06 am
#1
Concierge
Thread Starter
Joined: Feb 2007
Posts: 29,625
Interesting rental concept
http://www.james.ae/newsdetails.php?nid=384
they pay the landlord with two cheques and you pay them back with 12
they pay the landlord with two cheques and you pay them back with 12
Mar 15th 2009, 4:12 am
#2
BE Enthusiast
Joined: Nov 2008
Posts: 390
Re: Interesting rental concept
http://www.james.ae/newsdetails.php?nid=384
they pay the landlord with two cheques and you pay them back with 12
they pay the landlord with two cheques and you pay them back with 12
Mar 15th 2009, 4:16 am
#3
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Interesting rental concept
Mar 15th 2009, 5:23 am
#5
BE Forum Addict
Joined: Aug 2007
Posts: 3,287
Re: Interesting rental concept
I'd say its extremely risky, bearing in mind the amount of people leaving.
If they are still in business in a years time I will be surprised.
If they are still in business in a years time I will be surprised.
Mar 15th 2009, 6:06 am
#6
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: Interesting rental concept
In reverse:
My landlord was telling us what happened to his brother... basically, "a company" came along and rented out his villa and then sub-let it to tenants (billed as being the managing director of the company) at less than the market rate. Rent paid in 2 cheques to the landlord, paid in 1 cheque by the tenant.
They did this with about 20 villas and then didn't honour any of the landlords' second cheques, pocketting a huuuuge amount of money.
When the landlords complained to the rent committee it was ruled that the tenants could stay, seeing as they'd paid up. Poor landlords.
Mar 15th 2009, 6:11 am
#7
BE Forum Addict
Joined: Aug 2007
Posts: 3,287
Re: Interesting rental concept
lol!
In reverse:
My landlord was telling us what happened to his brother... basically, "a company" came along and rented out his villa and then sub-let it to tenants (billed as being the managing director of the company) at less than the market rate. Rent paid in 2 cheques to the landlord, paid in 1 cheque by the tenant.
They did this with about 20 villas and then didn't honour any of the landlords' second cheques, pocketting a huuuuge amount of money.
When the landlords complained to the rent committee it was ruled that the tenants could stay, seeing as they'd paid up. Poor landlords.
In reverse:
My landlord was telling us what happened to his brother... basically, "a company" came along and rented out his villa and then sub-let it to tenants (billed as being the managing director of the company) at less than the market rate. Rent paid in 2 cheques to the landlord, paid in 1 cheque by the tenant.
They did this with about 20 villas and then didn't honour any of the landlords' second cheques, pocketting a huuuuge amount of money.
When the landlords complained to the rent committee it was ruled that the tenants could stay, seeing as they'd paid up. Poor landlords.
but in this scenario, if the 2nd cheque bounced from 'the company' after 6 months, 'the company' wouldn't really have much benefit, seeing as the tenants are paying monthly..
Mar 15th 2009, 6:14 am
#8
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: Interesting rental concept
I just thought I'd share another "interesting rental concept" with you.
