Challenges when renting your first home as an immigrant

[k2jo]

Hey everyone!

I'm conducting a survey to better understand the financial impact of rental deposits on new immigrants, especially around the challenges of paying both the first and last month’s rent when moving into a new home.

I’d love to hear from you if:

• It is easy for you to find a rental home
• Covering both deposits was financially challenging as a new immigrant.
• You would have preferred to use that money for other financial needs or goals as you settled into a new country.
• You’d be interested in a service that allows you to avoid paying the full deposit upfront by making smaller monthly payments.
• You’d find value in receiving rewards or benefits from your deposit for being a responsible tenant.

I personally felt some pain here and I would want to hear your experiences and thoughts below!

 

[Naturgrl]

How is information being used and for what purpose? What service would allow you to avoid paying deposit and who would allow that? What rewards or benefits are you thinking of?

 

[k2jo]

How is information being used and for what purpose? What service would allow you to avoid paying deposit and who would allow that? What rewards or benefits are you thinking of?

I'm doing a research on this problem to see if I can build this company. I work in tech and an immigrant myself. I personally experienced it and I'm trying to see if such service is needed actually.

I think with the rising cost, it will be good to not pay these deposits upfront so you can re-allocate the funds to something you actually need especially if you are a newcomer. Also thinking that if you actually do the deposits, would it be beneficial to you to get rewards like gift cards at the end of your tenant term or a service that helps you clean the property when you leave for your new home.

 

[Naturgrl]

I'm doing a research on this problem to see if I can build this company. I work in tech and an immigrant myself. I personally experienced it and I'm trying to see if such service is needed actually.

I think with the rising cost, it will be good to not pay these deposits upfront so you can re-allocate the funds to something you actually need especially if you are a newcomer. Also thinking that if you actually do the deposits, would it be beneficial to you to get rewards like gift cards at the end of your tenant term or a service that helps you clean the property when you leave for your new home.

So if you own rentals or property manager and renting out then you can implement monthly payments for deposits or your own rewards like gift cards. That is at the discretion of the home owner. Not sure why owners should give out gift cards to tenants leaving. What is the incentive for the owner? Owners will not pay for a service like that.

 

[k2jo]

So if you own rentals or property manager and renting out then you can implement monthly payments for deposits or your own rewards like gift cards. That is at the discretion of the home owner. Not sure why owners should give out gift cards to tenants leaving. What is the incentive for the owner? Owners will not pay for a service like that.

It's more for an incentive to ensure you have good relationships with tenants and to ensure that the property is well taken care of.

I'm thinking of a service that does both:
1. Tenants won't have to pay bulk upfront
2. Landlords create a better experience for their tenants

If there is no value for either side, that's also ok. I just want to validate it actually.

 

[steaky]

It's more for an incentive to ensure you have good relationships with tenants and to ensure that the property is well taken care of.

I'm thinking of a service that does both:
1. Tenants won't have to pay bulk upfront
2. Landlords create a better experience for their tenants

If there is no value for either side, that's also ok. I just want to validate it actually.

Wait until you own your rental apartments and you decide if you want to carry out those thoughts....

I think a better idea is a rent to own option. And when someone leave the home, they follow your advice to rent it out or sold....