[Slaveatwork]

Originally Posted by ozymandias

I am assuming that he is the owner of the Condo. There is something like this called factoring and you woould be getting around 70% of the rental due for said period. You pay him up front for 70% of the amount recieved, he gets 30% less,

Factoring is exactly what it is, but I was under the impression this is only available for companies with receivables. Unfortunately, no secondary market for individuals.

The issue is this if any deal is to good to be true it usually is. The question then becomes the issue of the deal and the paperwork. There are no friends when deals are involved and it behooves one to check every detail before entering one.

1. Tenancy breaks tennancy , what then the cost to you. ?
It's a corporate contract with a reputable MNC. I have no worries on default.

2. Tennnacy deposit who holds it ?
Doesn't matter.

3. Maintanence and upkeep , if agreement novates to you, then you are responsible, are there any hidden issues.

4. Has he mortgaged the property ? Do remember that if he defaults on the property loan , then the bank has first rights on everything and that should I believe include the rental from point of default.

Good point on item 4