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Tuesday, December 31, 2013

Bitcoin rent arrears

I have just read of an interesting case that Landlord Action are looking to fight where a landlord and tenant have an specified rent to be paid in Bitcoins drawn up on their tenancy agreement. 

The virtual currency seemed to suit the pair of IT whizzes to begin with. However, the rocketing of the value of the currency has caused the situation to sour.  The tenant stopped paying earlier this year and demanded that the tenancy agreement be altered. Unsurprisingly the landlord wasn't so keen and is now wanting the massive rental arrears caused by the currency's super inflation to be cleared. 

It will be interesting to see which way this one goes.

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1 comment:

Paul said...

To me it seems no different to having a property in the UK, and then putting the rent as being payable in EUR, without including a fixed exchange rate, foolishness from both parties imho.