“RENT-TO-OWN” OPTIONAL PROGRAM

Explanation:

In a “Bear Market”, this program may be a viable way to buy/sell a house. Rent for twelve (12) months and receive 40% of the total rent you paid back at closing to purchase the home you are renting. Rent for three (3) months and receive 100% back at closing. No rebate is applicable beyond twelve (12) months. This Rent-To-Own program must be approved by each individual property owner/seller and cannot be combined or used in conjunction with any other special offers or promotions offered by Future Homes.

12 Month Rent-To-Own Example:
Estimated Property value $ 150,000.00
x Rent Factor of .70 = $ 1,050.00 Monthly payments (plus utilities).
Rent for 12 months = $ 12,600.00 Total paid for one (1) year.
Less 40% Rebate = $ 5,040.00 Accumulated for down payment at
closing.
Actual Rent Paid After 40% Rebate = $ 630.00 Monthly ($7,560.00 for 12 months)

Rent-To-Own for 3 Months Only and Get 100% Back for Down Payment at Closing


Rent-To-Own Terms:

  • First and last month’s rent must be paid, utilities transferred and post dated cheques issued prior to occupancy.
  • Personal contents and liability insurance will be the responsibility of the tenant during the lease if they desire to take out such insurance
  • The Rent to own option must be exercised on or before 60 days from the rental expiration date.
  • Above subject to change without notice, effective 02/19/07

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