SPEEDRENT TECHNOLOGY

COMPANY DETAILS

End-to-end: The company operates a free-to-post platform www.speedhome.com and mobile app to allow tenants and landlords to deal directly. Homerunners services are provided for free by a ground team deployed to conduct key collection from landlords and show the house to the prospective tenants. Landlord and tenant complete the tenancy process by login in http://speedmanage.com/ draft and sign the tenancy agreement digitally. Upon tenancy is concluded, SPEEDHOME assist the rental collection, eviction and dispute resolution for the landlords.

Zero Deposit: Collecting “2+1” rental deposits was the common practice required by landlords but the young generation or young families who are generally low in bank savings were struggling to rent immediately. Zero Deposit allows qualified tenants to move in with just one month's rent which saves up to 75% of cash outflow. This is only possible due to the superior insurance protection provided to the landlord.

Credit Checking: SPEEDHOME is the only rental platform which has 3-years of proprietary data to operate the machine-learning powered credit checking process for better screening process. Since the deployment, the platform managed to record a 50% reduction in rental default.

Insurance Protection: SPEEDHOME had assisted landlords to claim more than RM800,000 worth of insurance compensation due to malicious damage and default rental payment by the tenant. More than 15% of our customers purchased more than 1 insurance policy with SPEEDHOME and this indicates that landlords believe the insurance is far more superior in protection than conventional tenancy deposits.

Rental Collection: SPEEDHOME assists landlords to collect rental from tenants via FPX, Online Banking, Credit Card or direct bank-in. SPEEDHOME processes the payments next business day to landlords without charging any fee. SPEEDHOME will call tenants on rent overdue and evict tenants via the homerunners team.