Rent-to-Own
Start with Rent, End with Ownership
The Rent-to-Own program is an alternative path to home ownership. The process starts the same as our Affordable Housing Program in that we look for properties that can be renovated into homes. But instead of ownership from the beginning, we enter into a lease-purchase agreement with participants. Where for a set period of time a portion of their rental payments will be credited towards the purchase price. This reduces financial barriers and facilitates home ownership to folks who may otherwise not have had the opportunity.
Our Rent-to-Own Process
Property Identification and Assessment:
Identify vacant or dilapidated properties suitable for rehabilitation, including a thorough assessment focusing on structural integrity, safety, and potential for energy-efficient upgrades.
Comprehensive Renovation Plans:
We use renovation plans that include structural repairs, plumbing and electrical system overhauls, roof replacements, and insulation improvements to enhance energy efficiency and safety. Our quality assurance protocols include regular site inspections and compliance checks to ensure our renovations meet county standards.
Property Renovation
We renovate identified properties based on our comprehensive plans. We ensure that construction meets high quality standards and energy efficient practices. We conduct regular site inspections and compliance reviews to maintain quality and safety standards.
Financial Counseling and Home Ownership Education
Ongoing financial counseling and education is provided every step of the way. This includes information on budgeting, savings, and debt management strategies. Workshops and one-on-one sessions are also provided on topics such as mortgage financing, home maintenance, and legal responsibilities.
Participants Enrollment in Lease-Purchase Agreements
We provide financial counseling and education for enrolled participants. The agreements clearly outline the terms, conditions and provide guidance on ways to build equity.
Successful home ownership starts with the right information and practices. Our support services arms you with the tools you’ll need to own your home and manage your finances.
