Frequently Asked Questions

• What type/size/quality of properties can you offer for rent to own?

We work with high quality family homes that are located in sought after neighborhoods, such as, for example, Hamilton Mountain. They usually have 3+ bedrooms, 1 or 2 bathrooms, a fenced yard and are in excellent condition. To get a better idea about the types of houses we offer for rent to own in Hamilton and surrounding areas please check out some of our past projects.

• What are the areas where you offer rent-to-own programs?

We offer rent-to-own programs in the following cities: Hamilton, Ancaster, Dundas, Waterdown, Stoney Creek, Grimsby, Binbrook, Brantford, St. Catherines, Niagara Falls, and Welland. Some of these areas are more expensive than others which can limit your choice depending on your family income.

We’ve also partnered with rent-to-own providers in Durham Region, Kitchener-Cambridge-Waterloo, and Barrie area so we are able to accommodate rent-to-own requests in these areas as well.

Please note that we are not able to provide rent-to-own programs for properties in rural areas.

• Are there any income requirements to enter a rent-to-own program?

At the current time, due to the housing market conditions, the entry criteria for our rent-to-own programs is the minimum of $84,000 in verifiable gross annual combined family income ($7,000 per month). Please note that this is gross income, i.e. income before tax, not your “take home” paycheck.

Exceptions to this rule can be made for families that may be under $84,000 (but not less than $72,000) in gross annual income at the time of entering their rent to own program, but there is a strong evidence that the minimum of $84,000 will be reached by the time of the buyout.

Please note that acceptance decisions are made on case by case basis and, besides your family income, are based on multiple aspects of your financial and credit situation.

• Why do I need a downpayment to enter a rent-to-own program?

The upfront payment required at the beginning of the rent-to-own program is more correctly called a buyout option fee. It becomes part of your downpayment at the time you buy out your home. Your upfront payment helps to ensure that you have enough money to buy out the property. The upfront option fee secures the property for you for the time of your rent-to-own program and guarantees the buyout prices outlined in your contract. Your upfront payment is also a sign of your serious commitment to your rent-to-own program.

• My credit is not that good. Can I be accepted into a rent-to-own program?

Yes, in most cases a rent-to-own program is a great solution for repairing a bad credit. We will connect you to a credit adviser who will work with you on improving your credit standing in the eyes of mortgage lenders. You will learn how to strategically develop your credit history in a way that will allow you to qualify for home financing sooner. Please note that it usually requires from 2.5 to 3 years to repair bad credit given that you follow the advice of your credit counselor. However, in some rare situations, we will not take on a tenant-buyer with certain credit issues if we feel they cannot be resolved in our program.

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If you have other questions, or if you are still not sure that a rent-to-own program would be the best path to home ownership in your specific situation, please fill out our online contact form. After you submit your information we will send you our educational brochure “A Complete Guide to Rent-to-Own”. This brochure is likely to answer all of your questions. You will also receive instructions on how to proceed with your initial assessment and application.