THE BIRBECK BUILDING SOCIETY.

Waikato Times, Volume II, Issue 94, 5 December 1872, Page 3

THE BIRBECK BUILDING SOCIETY.

To those of of your readers to whom the term "rent" lias a more or less horrible significance, the following facts will be interesting as illustrating " a new system of baying a house without money." The following is the argument used in the public announcement made by the above-named society in many of the English journals. Most persons are familiar with what; is known as the "three years' system" of the pianoforte makers, by which any one who hires an instrument, and pays its hire for that period, becomes the absolute owner of the [pianoforte. Previously to the introduction of this plan, it was almost as difficult for those of limited incomo to buy a good pianoforte as to buy a house, and persons went on year alter year paying for the hire of an instrument, and consequently expended as much money as woidd have bought ihe pianoforte several times over. Substitute the terms "piano" and "house," and your readers will appreciate from sto-n experience the forcc of these remarks.. Accordingly, the Birbcck Building Society say:- —What will hold good for pi ancfortes will hold good for houses; and tliero are many who would, no doubt, avail themselves of the opportunity if it was iflbrded tliem, of becoming the owner of a house in the sann way as they have already become the owner of a piano, lut a house being a more expensive article to purchase thnn«i piano, the directors propose to let houses for a period of twelve and a-half yea.-s, at the end of which time, if the rent b> regularly paid, the house will become the absolute proper, y of the tenant without further payment of any kind, excepting the law charges for the title deeds. The rent, payable by tL» tenant includes ground rent and insurance for the whole term Twelve and a-half years are nominally taken as I ho extreme limit, therefore though special arrangements may be made by choosing ashorter period at an increased rental, or a longer p-riod at a lower rental. And the advantages of this 'new sustain are summed up as follows : — Persons of limited income clerks, shopmen, and others may, by becoming tenants of such a society, be placed at once in a posit ion of independence as logards their landlord ; moreover their rent cannot be raised, aul they cannot be turned put of possession so long as they pay their rent cannot be raised, and they cannot be turned out of possession so long as they pay their rent. Another clause in the agreement is, that if eiveiumbinces compel them to leave the house,before tlie.completion of their twelve» ) au(l a-half years tanancy, tlicy can sublet the house for the remainder of the term, or they can transfer their right to another tenant. And fatalh' beyond, the simple payment of rent, no liability or responsibility of any kind is incurred, Accordingly, the directors make arrangements with the owners of houses in various parts of London and the suburbs,'by which they are enabled to afford to the'members of the satfetjtta very wide choice in the select ion both of house? and the Tocality in which they are situated ; and the terns on which houses can be placed on the register are to be obtained from the manager. And, as capitalists may be inclined to enquire still further into the system under whio'i the society works, with an ulterior yieiy of attempting a similar venture here, I have no dout they will bo enabled to obtain the required information: from Mr Ravenscourt the manager, 29 and 30, Southampton; Buildings, Chancery Lane, London. In the meantime, those who hold the privilege of viewing propeetively the constant and gaunt skeleton of Kent staring them in the;face, and, shutting, out from the horizon all that would be hopeful in their future, and grinding them down to a condition of moral serfdom', would welcome'the institution of an establishment similar to the Birbeck Society in thoir midst as an opportunity not to be thrown away.