By Paul Adede
Rent-to-own is a rental purchase model that allows a prospective home buyer rent the house they intent to purchase for a certain period of time with the rental payments going towards clearing the house purchase price.
Superior Homes has set the maximum lease period to be 3 years. Rent to own was conceptualized to give potential home owners an opportunity to live in their houses as they pay for it over a period of time without taking up mortgage.
Start Off
A rent-to-own agreement means the vendor has committed to sell their property to a tenant and the tenant has agreed to purchase the property for a pre-determined price within the 3 years’ time frame. This process starts by identifying the house of choice then doing a payment of a minimum of 50% of the purchase price before occupying the house.
Monthly Installments
Upon payment of a minimum of 50% of the purchase price, the balance of the purchase price is broken down into equal monthly installments to be paid within a maximum of 36 months (3 years).
Interest
Interest on the balance of the purchase price is restricted to 10% and charged on a reducing balance. This therefore means that the aforesaid balance of the purchase price that is structured into equal monthly rental payments incorporates the 10% interest.
Completion
Ownership of the property will transfer to the Tenant Buyer following receipt of the final payment of the purchase price.
Do you have rent to own homes in mombasa
I am interested
Hello Rubby, Apologies for the tardy response,
Please share your contacts and we shall get in touch?
I need more details on this
I am interested in your Rent to own plan. How do I go about it?
Hello staffod, Apologies for the tardy response,
Please share your contacts and we shall get in touch?
I need a TPS house in Nairobi. I will appreciate your guidance on this. Thanks
Hi Esther, You can call our sales team on +254 724 253 258 and they can discuss options.
Interested in a rent to own house in Nairobi and it’s neighbourhoods
Hi Jamlick, You can call our sales team on +254 724 253 258 and they can discuss options.
This is interesting and would love more details as to how this works and what are the properties , you have and the said plan.
Hi Francis, You can call our sales team on +254 724 253 258 and they can discuss options.
Kindly email me the rent to own options breakdown, nice plan: carolmugure50@gmail.com
Hi Carol, You can call our sales team on +254 724 253 258 and they can discuss options.
What are the average cost of homes in rent to buy homes?
Hi Martha, you can call our sales team on +254 724 253 258 and they can discuss options.
I am interested in the rent renown plan. Kindly furnish me with any further details.
You can call our sales team on +254 724 253 258 and they can discuss options.
interested
You can call our sales team on +254 724 253 258 and they can discuss options.
hi, i am interested. can i get more details?
You can call our sales team on +254 724 253 258 and they can discuss options.
Hi, I am interested. What options are available in Nairobi?
You can call our sales team on +254 724 253 258 and they can discuss options.
Interested. Kindly confirm locations for these kind of projects.
You can call our sales team on +254 724 253 258 and they can discuss options.
I cannot call since its too expensive to call currently. Can you please send to me some houses and the payment plans.
Hello Christine. Apologies for the tardy response, We shall get in touch with you via email
Im interested
Hello Caroline, Our sales team will reach out to you.
Regards