We explore the concept of rent-to-own real estate in Canada, comparing it to car leasing and explaining how it bridges the gap between renting and owning property.
- Rent-to-own offers two main agreement types: a lease option agreement where tenants have the choice to buy, and a lease purchase agreement where they're obligated to buy at the end of the term
- The typical structure includes an upfront option fee (1-5% of home price), monthly rent payments with a portion going toward the future purchase, and a predetermined purchase price
- This strategy is particularly beneficial for people who can't qualify for traditional mortgages due to insufficient down payment, low credit scores, or non-traditional income sources
Sign Up For The Next Webinar Realist
Join the best community in Canadian Real Estate realist.ca
Attend a Meetups Meetups
Nick
Instagram.com/mybuddynick
tiktok.com/@mybuddynick
twitter.com/mybuddynick89
Dan
twitter.com/daniel_foch
instagram.com/danielfoch
tiktok.com/@danielfoch
See omnystudio.com/listener for privacy information.
