We’ve recently launched our very own Rent to Own scheme, which has generated a lot of interest among both landlords and tenants. Tenants in particular see Rent to Own as a great opportunity for them to get their foot on the housing ladder.

If you’ve not heard of Rent to Own, we’ve put together a short article here. If you’re a landlord considering Rent to Own, head here for more information.

If you are a tenant yourself, thisarticle is for you – we want to share the reasons why you might consider Rent to Own. Why should you take the step to become a Tenant Buyer? Read on to find out more…

Rent to Own is brilliant for those tenants who can’t currently raise the deposit

Do you have aspirations of owning your own home but are not currently in a position to purchase? Rent to Own is perfect for you! We have all heard the stories of tenants who would love to buy their own home but are forever trapped in a cycle where they cannot save for a deposit – this is where Rent to Own comes in.

With Rent to Own, part of the rent you pay each month goes to saving for a deposit which will be used to buy the property at the end of the pre-agreed period of time. This means you get to move into your dream house now rather than battling to save up for it in 5, 10 or even 15 years’ time. Furthermore, you’re actually saving to buy it each month during that timeframe!

Rent to Own is useful for those with poor credit

With Rent to Own there is no need to qualify for a mortgage straight away. This is great news for tenants who want to own their own home but currently have poor credit which might impact their ability to borrow

Rent to Own allows you to live in the home that you will purchase in the future whilst sorting out your credit record in order to get a mortgage at the end of the pre-agreed period. If you’re in this position, Rent to Own could be a fantastic opportunity!

Rent to Own can be beneficial for self-employed tenants

We deal with many self-employed tenants, who are thinking about buying and are in good financial position but are unable to get a mortgage as they need three years of ‘good accounts’ in order to satisfy the bank or building society’s requirements. With Rent to Own, these tenants are able to let the house with the option to buy after a few years. This gives time to further establish those all-important accounts ready to get a mortgage

Are you interested? Find out more information at Bricknells Rentals.

At Bricknells Rentals we are committed to creating a fair and equitable deal that will suit both the Tenant Buyer and the landlord. As you can see, there are many reasons for tenants to become Tenant Buyers. If you are a tenant that is interested in Rent to Own, why not register your interest with us? We would love to hear from you and we can show you the Rent to Own properties we currently have available. Get in touch with us today!