User:GreySmith Institute/RDI Timeline

Rental Deposit Insurance Timeline

 * As soon as financing available
 * Reserve Name for corporation
 * Open bank account in that name with bank
 * Contract a Major Consultant for an 11 month feasibility study
 * Set aside the BASE capital as required
 * Appoint a Managing Director and bring him up to speed
 * If the project proves feasible Hire a Lawyer to do a 1 month Legal analysis and Register the corporations
 * Rent an office and look for storage/program space for DMC
 * Appoint a Managing Director for DMC
 * Search out staff by contacting charities for secondment and recommendations
 * DMC Director will develop a business plan in conjunction with staff
 * RDI Board will review financial fundamentals of RDI every month
 * DMC Board will review stats and program reports every 2 months

Description of the Corporate Structure:

RDI is registered as an Guarantee type Insurance Corporation under laws of Alberta

Essentially what it does, is for a premium, supply a rental deposit for the next Rental suite, in lieu of the landlords rental deposit. Because this is purely a financial transaction, it minimizes its costs by recovering the previous damage deposit if possible, and putting the amount against the drawing account of the client, hopefully minimizing the drawn balance for the client so that they can do multiple rental deposits before their account is flattened.

Essentially it can do this because when the client buys the insurance policy, it concentrates a number of such policies together to make a Bond issue, and sells the bond issue on the International Market. The bond issues proceeds are then put into drawing accounts and interest is earned against a portion of them. The Insurance company pays its bills with the premium over the expense of paying the interest on the bond issue, and with the interest earned from the investments.

RDI is a purely financial institution, but owns a subsidiary DMC (Deposit Management Corporation) that runs a social program based around the need to teach renters skills to improve their home holding capabilities so that they are not constantly being moved, store material goods when kicked out, but have not yet rented the new place, and Help out with move-out and repair cleaning of site to give it back to the owner in good shape. The idea is to maximize the probability that the owner will return a rental deposit.

DMC or Deposit Management Corporation is meant to make RDI more cost-effective by increasing the likelihood that non-predatory Landlords will pay back their Damage Deposits by reducing the cost of preparing the old rental accomodation for re-rental.

The DMC program includes a Social Worker/Advisor that advises the clients whether to take the insurance and what DMC programs they should take.

DMC Programs may include:


 * A Budgeting and Rental Requirements course based on a Life Skills Course
 * A Clean-up and Repair course based on Landlord expectations
 * A Packing Course to teach you how to pack up for a move
 * A Loading course to teach you how to Load a vehicle to minimize damage
 * A Self-help group based on the idea that a move works better if you don't stress yourself out and have help/experience doing it
 * A Move-out Program with professional packers and movers
 * A Legal Team in case the Landlord is predatory and won't return your Damage Deposit
 * Note legal team is limited to nuisance cases and will not do a class action
 * A Housing Registry
 * A private predatory Landlord list
 * A Stats team (who's job it is to determine how much greater the demand is for rental accommodation than the supply)