Latest venture looks at buying shares in a house

cannot afford a house of their own.

Cashing up their investment would require investors to find willing buyers for their shares through the ‘‘secondary market’’ Janse said Property Crowd would facilitate.

Just last week, BNZ announced it was partnering with the Youown shared home ownership business, which cobuys homes with families, charging them for the service, and taking a share of any capital gains they make.

There is also The Ownery, which operates a similar model to The Property Crowd.

‘‘We wanted to solve two problems,’’ said Janse. ‘‘How to get a foot up onto the property ladder for those that want it and how do we provide long-term sustainable rental properties for those who simply want a warm, dry home with a roof over their heads.’’

Janse said people would be able to invest as little as $100, effectively banding together with others to buy a property, which would be rented out, and managed by an property manager.

In return their would get a share of income, after management expenses and propertyrelated costs, as well as a share in any capital gains.

The aim was for long-term ownership, and investors who wanted their money back would sell their shares to another investor.

‘‘Having lived in cities overseas where long term rental properties are well established I could see that we needed something similar in New Zealand,’’ Janse said.

‘‘We firmly believe this is a viable alternative for those wanting to invest in property but don’t necessarily have the $100,000 entry fee saved up, and for those wanting long-term, dependable rental properties.

‘‘As the Government moves to introduce new requirements around rental stock, we believe there is a great opportunity for The Property Crowd to offer quality well maintained homes that are more than just meeting the bare minimum standard and that provide long term homes for tenants.

‘‘We’ve sourced our first house in Auckland and we’re actively seeking more housing stock at the moment.’’