UNSANITARY HOUSING 59 



cottages and by a general oversight and protection of property from 

 damage. Loss of revenue by non-payment of rent is guarded against 

 by the society having liens on the tenants' investments. The 

 greater the efforts of the tenants in the direction of economy, the 

 larger the rent bonus is likely to be. Most of the societies have not 

 been at work long enough to get the full economic advantages of this 

 system, or to allow of a final estimate being made of what these will 

 prove to be. After meeting all charges and paying five per cent, 

 interest on capital, the older societies up to now have been able to 

 declare a dividend of Is. to Is. 6d. in the pound on rent. Each 

 society creates a sinking fund at the rate of ten per cent, per annum, 

 which, capitalized at three and a half per cent., will give the sum 

 expended on the property in sixty years. 



