What is “Rent2Own”?
This is a situation where a property owner rents a property to a tenant / buyer for a set period of time –usually 1-3 years. Upon expiration of the lease / rent agreement, the renter would then have the option to purchase the home, and that option is written into the lease agreement.
Key Benefits of our Rent2Own Program:
1. A portion of the “Rent2own monthly rent” is actually put towards the purchase of your future home.
2. The Initial Rent2own deposit money is credited towards the down payment when / if you decide to purchase the home.
3. Minimum cash down to move into your future home
4. Profits from appreciation: Since the sale price is locked in before closing (as specified in your agreement), any increase in property value will mean that your equity (what you owe minus what it’s worth) is increasing in the home.
5. All credit issues are welcomed
- Bad / good credit OK
- Foreclosure OK
- Bankruptcy Ok
- Collections notices OK
- New immigrants OK
6. Move into your new home right away, no long waiting times sometimes as early as one week.
7. No taxes, less liability: Since you do not own the home (yet), you will not have to pay property taxes and your liability exposure will be dramatically reduced.
8. Peace of mind: You will have full control of the home and can maintain or improve it however you wish.
- Stop paying rent forever
- Owning vs renting – the big debate
- Credit Score high and keep interest low – the ins and out of credit scoring
- Should you own your home or rent?
Who is Rent2own For?
Is the number one reason why people consider Rent2own. Bankruptcy can leave you stranded with nowhere to go. TREP will help you put your life back together with our Rent2own program.
2) Bad credit or No Credit:
Your credit score is not stellar for many reasons beyond your control. The TREP Rent2own program will help you rebuild your credit and help you get into your own home fast.
Sometimes it is very difficult to buy a home when you are self- employed. Often you are asked to come up with a large down payment for a house, which is often very difficult to do. TREP Rent2own program will make it easy to buy your home now.
4) Lost Your Employment:
Like many people, you have recently lost your job. Let Trep’s Rent2own program fill the gap and allow you to still buy a home for you and your family.
You are new to a city or province and believe you know where you want to live but aren’t sure of the Real Estate market, yet want the option to rent and possibly own your house. Trep’s Rent2own program is a perfect fit for for you.
6) Down Payment:
You just don’t have a significant down payment. Like may others you find yourself in this frustrating position. Let Trep’s Rent2own program alleviate the stress and get you moving into your new home right away.
7) Divorce / Life Changes:
Divorce can be a financially draining event. TREP’s Rent2own program offers immediate solutions for those those caught in these tough circumstances.
8) New Immigrants to Canada:
It is difficult to establish credit when you are brand new to a country. TREPS’s Rent2own program understands that this is very difficult. Let us put together a program to get you and your family into a nice home and get your credit established quickly.