Home Rent to Own | Power of Sale/Foreclosure | Credit Management The Way Canadians Can Become Homeowners | Page 6

RENT-TO-OWN PROPERTY: A PROFITABLE
CHOICE FOR CANADIANS
This option is also known as “lease purchase”. It allows tenants to buy the
house they are leasing. In order to do that, they would pay a few more
dollars over the normal rent payments in the local market. Many Canadians
think this option involves interest rates but it actually does not. The only thing
you pay besides your normal rent is an amount of money to create a fund
which would work as down payment until the property is finally bought. That´s
why you