Section outline

  • PLAN & DO / WHAKAMAHI

    PLAN & DO / WHAKAMAHI learning intentions:

    • We are PLANNING to create a personal budget plan so that we can simulate real-world financial scenarios using Banqer
    • We are PLANNING to make informed financial decisions within the Banqer environment so that we can Set financial goals and track progress


    Banqer High


    Brief

    Once enabled, Property will progress your students from renting through to being home owners.

    At stage one (Renting) students will form housemate groups, search for a rental property, review the core principles of a tenancy agreement and start paying weekly rent. Stage two (Home-ownership) sees students progress to home ownership as houses become available to purchase with the deposit they are provided. Students can buy the houses they live in, or even become the landlord of their peers!

    Experience

    Your students will experience and develop an understanding of the following concepts:

    • Finding a group to rent with from their class and selecting a rental property.
    • The basic concepts included in a Tenancy Agreement.
    • Their responsibilities as a tenant, and the responsibilities of their landlord.
    • An appreciation for joint and several liability through random events that result in cost being incurred by all housemates as a result of the actions of one.
    • Managing their money to ensure weekly rental payments are made, and weekly living costs are covered as a group.
    • Searching for a house to purchase and navigating the mortgage process.
    • Their responsibilities as a homeowner (and potentially landlord).

    Impact

    Enabling the Renting Expansion will have the following financial impact on your students:

    • Students will pay weekly rent, or if they choose not to move out of home, pay board to their parents.
    • Students will pay weekly living costs.
    • Random renting related events will result in unexpected expenses and bonuses to students, and allow students to demonstrate their understanding of the concepts outlined above.

    Enabling the Home-ownership Expansion will have the following financial impact on your students:

    • Students are provided with a deposit that can only be used for purchasing a house.
    • Pay a mortgage and collect rent if their property is tenanted.
    • Continue paying weekly living costs.
    • Experience random homeownership related events will result in unexpected expenses and bonuses to students, and allow students to demonstrate their understanding of the concepts outlined above.