Topic: Housing Rentals Denominated in Bitcoins (Read 1366 times)
What is legal in your country to create a contract that is exchanged between zamindars and tenants, in exchange for bitcoin? Is it different from asking whether some non-native currency can be paid? How about gold bars? Where is the landlord? Where is the lawyer?
You are in Mono. A landlord or housekeeper and tenant should talk about exchange or exchange of Bitcoin. Yes it is necessary to do this. Because if a landlord and tenant starts using Bitcoin, then Bitcoin can be used to increase usage.
You will have check laws in your particular country regarding paying rents in bitcoins . It should be allowed in my opinion.
I'm tired of hearing "Yes, but until I can pay my rent and buy my groceries in bitcoins, they will never succeed..."
Is it legal in your country to design a contract between landlord and renter where the payment exchanged is denominated in bitcoins? Is this any different than asking if the payment could be denominated in some non-native currency? How about in gold bars? Where are the landlords on this forum? Where are the lawyers?
Is it legal in your country to design a contract between landlord and renter where the payment exchanged is denominated in bitcoins? Is this any different than asking if the payment could be denominated in some non-native currency? How about in gold bars? Where are the landlords on this forum? Where are the lawyers?
We do not need to call the landlords and lawyers in this forum. Common sense will tell us that if they are not into cryptocurrency or bitcoin they are not here so its just a waste of time waiting for them here. The contract between a landlord and the renter t use bitcoin as payment does not require legalities. But it is the willingness of the landlord to accept bitcoins and the capacity of the renter. We cannot just force them to do that if they do not want it.
In the country I have not allowed in this case, and I also hope that in my country as soon as possible to legalize bitcoin currency.
Absolutely, it's only a matter of time before people start to buy and sell real estate with btc. It is already happening..there are already sites for that..just Google buy real estate with bitcoin.
It's only a matter of time before the whole real estate market is dominated by Bitcoin and other major cryptocurrencies. It's so much easier to move millions using crypto than cash. Every day, more and more people will start buying and selling real estate using btc...you better believe it.
It's interesting that this thread came so close to predicting the future! Now 7 years later, and payments for long term rentals throughout the US are soon going to be paid in BERRY, the token released over the last few months by Rentberry.com.
In 2011 the idea of there being 1400 altcoins would have been hard to imagine let alone, another cryptocurrency other than BTC being the future medium for payment between Landlords and tenant, but now the Rentberry project have incorporated blockchain tech into their web platform and are close to finishing the development of their app - which will connect property owners and renters globally.
Currently their platform has thousands upon thousands of listed properties in the US, and expansion to other countries around the world will be commencing later in 2018.
Landlords are already able to make payments for e-signing contracts with tenants and listing multiple properties in BERRY, and soon tenants will also be able to pay for their rent using the token as well. Also built into the core of the Rentberry model, is the ability for token holders to earn roughly 7% interest in passive income from lending renters BERRY tokens to crowdfund their security deposits.
Unlike projects such as Bee, Rentberry aren't taking on big players like AirBNB head on - their target market is the long-term (think furniture-less) rental market.. a space which as of now hasn't been seriously considered by blockchain enterprises. For more info check out the Rentberry Telegram chat - https://t.me/rentberry
In 2011 the idea of there being 1400 altcoins would have been hard to imagine let alone, another cryptocurrency other than BTC being the future medium for payment between Landlords and tenant, but now the Rentberry project have incorporated blockchain tech into their web platform and are close to finishing the development of their app - which will connect property owners and renters globally.
Currently their platform has thousands upon thousands of listed properties in the US, and expansion to other countries around the world will be commencing later in 2018.
Landlords are already able to make payments for e-signing contracts with tenants and listing multiple properties in BERRY, and soon tenants will also be able to pay for their rent using the token as well. Also built into the core of the Rentberry model, is the ability for token holders to earn roughly 7% interest in passive income from lending renters BERRY tokens to crowdfund their security deposits.
Unlike projects such as Bee, Rentberry aren't taking on big players like AirBNB head on - their target market is the long-term (think furniture-less) rental market.. a space which as of now hasn't been seriously considered by blockchain enterprises. For more info check out the Rentberry Telegram chat - https://t.me/rentberry
Is it legal in your country to design a contract between landlord and renter where the payment exchanged is denominated in bitcoins?
Excluding rent control issues, can a landlord and a tenant agree to a rent price that is fixed at a specific exchange rate? I don't see why not.
A landlord in most, if not all, U.S. states could, I believe, set the rent for a property to be one ounce of gold per month, for instance.
The IRS will, of course, expect the landlord to report that income. They even list accepting bartered goods in exchange for rent in Example 2 of their Record Keeping for Business Barter Transactions document:
Quote
Example 2:
You own a small apartment building. An artist trades you a painting in return for six months’ rent-free use of an apartment. You must report the fair market value of the artwork as rental income on Schedule E Supplemental Income and Loss on Form 1040. Generally, this would be the fair rental value of the apartment for six months. You can claim your normal rental expenses associated with the barter of the apartment.
http://www.irs.gov/businesses/small/article/0,,id=215975,00.htmlYou own a small apartment building. An artist trades you a painting in return for six months’ rent-free use of an apartment. You must report the fair market value of the artwork as rental income on Schedule E Supplemental Income and Loss on Form 1040. Generally, this would be the fair rental value of the apartment for six months. You can claim your normal rental expenses associated with the barter of the apartment.
Why on earth would anyone forbid that ?
taxation, maybe? If government(s) decide to tax bitcoin transactions, they'll first have to recognize it's a currency, and allow it to compete with others on the exchanges.
Why on earth would anyone forbid that ?
I'm tired of hearing "Yes, but until I can pay my rent and buy my groceries in bitcoins, they will never succeed..."
Is it legal in your country to design a contract between landlord and renter where the payment exchanged is denominated in bitcoins? Is this any different than asking if the payment could be denominated in some non-native currency? How about in gold bars? Where are the landlords on this forum? Where are the lawyers?
Is it legal in your country to design a contract between landlord and renter where the payment exchanged is denominated in bitcoins? Is this any different than asking if the payment could be denominated in some non-native currency? How about in gold bars? Where are the landlords on this forum? Where are the lawyers?
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