As technology progresses, our lives are made that little bit easier with each advancement. Technological enhancements pervade all our lives and in almost every part of the human condition. Our society runs on Tech and would collapse if it were removed somehow. There are a few secluded parts of the world that are untouched by the modern world that would probably survive and even prosper but the rest of us would need to learn a new way of living at best and most of us would perish.
So for good or bad, Tech is here to stay, at least we hope. We rely on it from the smallest aspects of our day to day existence to the largest and buying a house is, for most people, the biggest purchase of their lives. Business and banking have always been at the forefront of the world of technological advancements and FinTech, or Financial Technology, may be a relatively new term but it’s a process that has been going on for a long time.
Property Crowdfunding is a form of shared ownership that allows people from all walks of life to enjoy the benefits of property ownership. This form of FinTech seeks to connect a potential home buyer with a collection of investors so they can all purchase the home together for the buyer to live in as their own. Rent is applicable on the portion of the property that is owned by the investors and the buyer can buy more shares on demand as their circumstances change.
The technology facilitates this transaction by finding the right mix of purchasers and investors and managing the ongoing transactions that would be involved in a landlord/tenant relationship in the long term so everybody involved can relax and enjoy the experience.