Social rental platform: interview with Richard Saville, CEO of Break Your Lease
Australian entrepreneur Richard Saville created To break Your Lease, a new social platform app that allows people to list their apartment or take a lease for another rental. This is perfect for people who are facing financial difficulties or have a sudden change in their life and need to move quickly. The CEO will tell us more in this interview with TechBullion.
Please tell us your name and about you?
I am Richard Sullivan, an Australian businessman and application developer.
Early life – I was born in Australia and moved to New Zealand when I was young, where I attended primary school. I then returned to Australia to attend Queensland High School at St. Edmunds College. After graduating from high school, I obtained dual degrees in business administration and business administration. I then got another degree in Licensing Sales, Rental and Property Management before entering the real estate industry.
Career – From a young age, I always wanted to run my own business and be my own boss. After spending a few years learning management skills in the real estate industry, I started Reekko Entertainment, a company specializing in booking and management agency services.
Through Reekko Entertainment I have helped bring many well-known celebrities to Australia for performances, as well as manage their time in the country. These include, but are not limited to:
- Fatman Scoop: R&B Fridays at SinCity, Gold Coast, Australia (2019)
- Sean Paul & Crew: Ivy Rooftop, Sydney, Australia (2020)
- Shaggy & Sean Paul: Ivy Night Club, Sydney, Australia (2020)
- Sean Paul: GPO Night Club, Brisbane, Australia (2020)
Before the COVID-19 pandemic, I was also organizing tours and reservations for artists like J Cole, Cardi B, Kevin Hart and 50 Cent. These events will likely still take place after the pandemic, with dates to be announced.
Before the COVID-19 pandemic, I was already well into the development of an app to help landlords and tenants break their leases without the usual hassle. I identified a gap in the market, noticing that many of my friends were paying unnecessary amounts of money and rent while waiting for someone to take over their lease – that’s where my idea started.
Cancel your lease (www.breakyourlease.app) is a social platform connecting people and their leases to each other. Once the connection is established, they are encouraged to do their own research to make informed decisions to break or take the lease.
The app was launched in the Apple App Store in Australia and New Zealand in May 2020 and made available to those in the UK and US in August 2020. The app was released. coincided with the COVID-19 pandemic which has forced many people to break their commercial and residential leases. Recognizing the demand, Break Your Lease offered free ads for the first month to ease the financial burden on its users.
What is the breach of your lease?
Break Your lease is an application that works as a social connection platform. Its users list the rest of their residential or commercial leases for others to apply to take over the lease. Additionally, Break Your Lease lists vehicles, parking spots, and gym memberships. The more information the list has downloaded (i.e. photos and detailed descriptions), the better or faster the results of establishing a connection. Users exchanging messages are managed by notifications, which facilitates navigation.
What features and services make Break Your Lease unique from other rental apps?
The uniqueness of Break Your Lease App is its simplicity as a globally needed service. People need a quick and affordable process to get out of a lease or loan when life circumstances change. Break Your Lease provides a connection platform where people look for shorter leases and alternative ways to buy vehicles safely as financial approvals are done by the leasing agent.
Tenants owe a combined $ 57 billion in rent and utilities, could this be attributed to the COVID pandemic?
The size of the global rental market has seen a shift in population from cities to regional areas due to the impact of COVID-19.
COVID-19 has created a loss of jobs for some and the ability to work from home for others. Both have allowed people to move to cheaper rental areas. The coin of this proposition is that rental prices in these now sought after areas can push rental prices up and regional renters away from affordable living. A global response to COVID-19 has been to put in place moratoriums on rentals where tenants could not be evicted if they were financially affected by COVID-19 and mortgage ancestors to reduce financial hardship. These are expected to end globally in June 2020, when each country reassesses ongoing support. There will be more evictions, repossessions and the need for people to adjust their living conditions. Break Your Lease can help these people with an affordable social login platform to list leases and vehicle loans or rentals.
The latest stimulus bill includes $ 19.1 billion in rent relief funds, how can this help tenants ease this rent burden?
While the stimulus will support families a bit longer, the main issue is whether the government or families can bear the cost of living on an ongoing basis? Ultimately, people will have to make the decision to retrain or upgrade for a job and when and what the downsizing will look like. Is it about shrinking a family to one car or reducing the size of their house? Break Your Lease can provide an affordable social login platform for listing vehicle leases and loans, ultimately providing a quick fix while downsizing.
How is the Break Your Lease application beneficial for both the tenant and the lessor?
Break Your Lease is a resource that benefits both lessee and lessor. First, the renter will find the app user-friendly as they list their rental or vehicle loan. Getting in touch quickly with people looking for a rental or a pick-up vehicle and inquiries submitted directly to the rental company is an easy process. When the new tenant is approved by the landlord, there is a double gain, the tenant is released from the financial obligation to cover the rent until the end of the lease term. For the lessor, they retain control by controlling and choosing the incoming tenant. In addition, the lessor has not made any investment in the search for rental applications.
In which countries is the Break Your Lease app available and success stories to share with us?
The Break Your Lease app is widely used in Australia and works around the world.
Break Your Lease was launched in Australia in May 2020 and has gained over 700,000 users in six months. The momentum and adoption was quick and the leases didn’t last very long on the app. This is directly linked to the COVID-19 pandemic, which has seen students move out, people lose their jobs, move out and new people move in for the possibility of a shorter lease in these uncertain times.
Success Story # 1 – A couple who both adjusted to working from home, had little office space, no privacy for their confidential phone calls, struggled to work with each other. They wanted to move to a bigger location, but they still had 7 months left on their residential lease. They signed up on Break Your Lease and within two weeks they found a new home and found a connection that was verified and approved by their owner. The couple were grateful for the speed of the process as they had not encountered this work-life balance in their personal lives. Their work and personal life are much better for the changes they have made.
Success Story # 2 – A single person whose working hours were drastically reduced received the Government Supporting Wage Subsidy. He cut back on his man toys (his jet skis) to make sure he could pay off his mortgage rather than not being able to pay his expenses and worry about repossession.
We expect more registrations in the coming months with the lifting of government subsidies for covid.
Opportunities available for investors and partners at Break Your Lease?
The Break Your Lease app being sampled, tried, tested and running successfully in the Australian market with 700,000 downloads, the app is now being promoted to the global market. Partnerships are one option, they should be on a global level and in line with the business purpose: to provide a user-friendly service helping people in financial difficulty to forgo leases or loans.
For more information, visit the website: https://breakyourlease.app/