Bond finance

[Sharon]

Saw an advert for a firm called Move Smart offering tenant finance for raising a bond and payment of letting fees.Appears the tenant takes out a loan and the money is paid directly to a pre registered Landlord. Appears to be different from the Bond Assist insuarance based scheme.
Would be interested to hear any feedback or fish hooks on this.

[Tan]

It would be no doubt cheaper and easier to get a bank loan - unless for some reason the tenant can't. Do you want that tenant?

[Sharon]

As with lots of things depends on the property type and tenant type.

[MoveSmart]

Many landlords won’t wait around for a tenant to get a bank loan or a bond transfer. MoveSmart® offers 30 minute approvals and pays directly to the landlord so that the landlord has the confidence that the money is on the way.

Tenants are of course subject to credit criteria. It is not a product of last resort. It is similar to buying a TV on Hire Purchase.

Tenants using MoveSmart® may also have access to top-ups to repair damage during the tenancy or catch up with one rent payment if something goes wrong so that the tenancy continues. Great uptake from both tenants and landlords.

There are absolutely no fees to repay a MoveSmart® loan early or to make lump sum payments i.e when the tenants receives their bond refund.

[td91]

Sometimes coming up with bond is difficult. I've rented for a long time and bond at times used to be a problem.

For example paying $380.00 per week can be simple, however when you already have something like $1500 in bond locked away in DBH until you are released from your tenancy. But still having to come up with bond, letting fee, week in advance all at once which can add up to be nearly or over $2000 it's not always easy.

[MoveSmart]

That's exactly why MoveSmart® exists td91, to help ease some of that stress.

[Keys]

What did it cost to get MoveSmart as a registered trade mark?

[MoveSmart]

What did it cost to get MoveSmart as a registered trade mark?

Hi Keys, the standard cost of registering a trademark in New Zealand starts from $150.00 + GST.

[Keys]

Cost me $3.6k

Did you register your trademark?

[MoveSmart]

Cost me $3.6k

Did you register your trademark?

Hi Keys, yes we did.

[Keys]

Good oh.

(MAMC)

[donna]

Many landlords won’t wait around for a tenant to get a bank loan or a bond transfer. MoveSmart® offers 30 minute approvals and pays directly to the landlord so that the landlord has the confidence that the money is on the way.

Tenants are of course subject to credit criteria. It is not a product of last resort. It is similar to buying a TV on Hire Purchase.

Tenants using MoveSmart® may also have access to top-ups to repair damage during the tenancy or catch up with one rent payment if something goes wrong so that the tenancy continues. Great uptake from both tenants and landlords.

There are absolutely no fees to repay a MoveSmart® loan early or to make lump sum payments i.e when the tenants receives their bond refund.

There's a market for this product in NZ. It won't suit all tenants but there isn't a product out there that suits everyone so nice one MoveSmart.

cheers,

Donna

[MoveSmartBDM]

Good Morning All,

Just to rehash an old thread, MoveSmart laid low for a little while until we made a few changes to allow better lending criteria and sharper rates for tenants.
Launched back into the market 3 months ago and with great demand, plenty of PM companies getting on board to help tenants spread their move in costs, using MoveSmart as a bridging loan, 12 month spread of costs and also a type of insurance for landlords knowing they have a credit facility available should any damage be done that requires repair.

Hope to hear some questions or responses from people, all welcome,