|Rent to own policy in home loans|
05 June 2015
Rent to own is a policy where you get to buy a home on loan and the space is rented out for the desired time period. You thus get to earn profit from this rent that helps you to repay your home loan partly.
This policy is being promoted by housing finance construction companies for buyers who are purchasing property , houses, for investment purposes.
1) Before putting your precious investment money in such a scheme do find out whether the project is approved and has all the titles clear.
2) Will the rental public go to the space and stay, thus keeping the incoming rent going on for years. Locality of the houses.
3) Is the maintenance charge of society and additional service charges of this particular rent to own society reasonable other wise you end up paying from your pocket!
All the Best from Rizwana!