At least one local developer has struck on an ‘innovative’ way to rent out their property: rent to own.
Just like TV and Furniture in the 80s, you can rent to own a condo.
Under the plan, 15 per cent of a tenant’s monthly rent goes into a credit account. That money can then be used in the future for a down payment on a new Bosa home purchase, to a maximum of three per cent of the home’s value.
This should appeal to someone who is having difficulty finding a unit for 15% less and putting the money away themselves.