The above video from Globe & Mail provides an easy to understand explanation of the traditional Rent to Own option available to hopeful home buyers. Some time back, we had also written a blog post on Rent to Buy Mississauga Condos. which summarizes how this process typically pans out for landlord-cum-sellers and tenant-cum-buyers.
In this option, the landlord or seller extends the opportunity to buy the property after a period of time at a predetermined price, The tenant or buyer is required to pay an upfront option deposit which is mostly non-refundable. A portion of the monthly rent can also be applied towards the down payment to purchase the property.
However, this model is not everyone’s cup of tea. As newcomers and other first time buyers settle into their jobs etc. they may not want to be tied to a particular property and stand to lose money if they eventually do not wish to buy the same property any more.
To help people avoid these and other related issues, Team Kalia came up with a unique Rent Now-Buy Later program that provides peace of mind to prospective buyers in the various what-if situations.
Team Kalia’s “Rent Now-Buy Later” program
Here’s How We Help You Fulfill Your Rent to Own Dream!
As part of our unique Rent Now-Buy Later Program, we can assist you with finding a suitable property to rent for 1-2 years (max). Closer to the end of your lease term (or earlier depending on your readiness to purchase), we will start sending you for sale listings that closely match your needs. We will arrange for showings so that you can cherry pick the home or condo you would like to buy.
As a Buyer, when you Buy your home or condo with Team Kalia, you DO NOT pay us any fee or commission, as the Buyer Broker fee or commission is typically covered by the Seller in Canada.
Amit is a full time local REALTOR® with RE/MAX Real Estate Brokerage Inc. in Mississauga. RE/MAX is Canada's #1 real estate company. Team Kalia serves property sellers, first time buyers, investors, landlords, new immigrants and non-residents in Mississauga including Square One City Centre area. Team Kalia offers a 30 Days Sold Guarantee to Sellers. They also provide tenant finding services to their investor clients.