Home Rent to Own | Power of Sale/Foreclosure | Credit Management The Way Canadians Can Become Homeowners | Page 3

RENT TO OWN A CONDO: A DREAM
OR A NIGHTMARE?
The benefits of a rent-to-own condo are many. Firstly, regarding the
maintenance of the place, it is not a secret to anyone that furniture suffer
decay with the passing of years. Consequently, a simple change of water
pipes, or replacing faucets can cause regular expenses to your pocket.
Families in condos don’t have to worry about these issues as condo
managers have to deal with these problems. Renting a condo does not
pose any responsibilities regarding repair, renovation or even
maintenance of properties. In fact, renting to own a condo depends on
the lifestyle of each family. For example, for Canadians who feel
identified to the sense of community, the life in a condo is a good
scenario. It has been proven that people that rent a condo tend to coexist
much closer with the other similar families than when living in a house.
Regarding the condo legislation in Canada, it is very efficient and is not
that restricting. The usual limitations found in these rules are the amount of
persons per unit, the presence of pets, partying times, among others.
These and many more are very explained in the Canada Mortgage and
Housing Corporation Guide, which is found in every condo throughout the
country.