We firmly believe that all Canadians deserve a place they can call home. Our main goal here at NV Property Management is to transform our current renters into future home owners through our unique and customizable Rent to Own Programs.
Our unique Rent to Own program provides individuals and families the opportunity to move into their dream home today and have the option to purchase it at a later date.
We realize that every family has a different combination of assets, limitations and dreams. Our job is to understand your unique needs, so we can formulate the perfect Rent to Own program for you. We have evaluated the merits of various Rent to Own concepts and decided to implement and adopt only the most valuable. You will not be trying out something new and unproven. Instead, you will have your chance to become a home owner. That is our pledge to you!
Our customized Rent to Own program will take care of the whole process from assessing your needs, finding you a home, fixing your credit, saving for down payment and purchasing your own home. Our Rent to Own program will walk you through this process from A to Z.
So stop worrying about your financial situation or your credit score! After all, we are here to help you make the right decisions. This program gives you the ability to move into your future home and enjoy it, while saving for a down payment or repairing bruised credit.
Our Rent to Own Program Advantages
Built in Equity
- You lock in your future purchase price today
- You are protection from a fluctuating market
- Any upgrades you make to the home increase your future equity
Flexibility
- You have the opportunity to exercise your option to purchase at any time during your term
- You are under no obligation to purchase the home at the end of your lease
- You have the ability to make any cosmetic changes, that you wouldn’t be allowed to implement in a standard rental housing unit
- You choose your own home
- You are not limited to purchasing a single family home; you can purchase a multi-family unit, if you are looking for extra income
Peace of Mind
- Live in your future home today
- Have professionals assist and guide you every step of the way (this will help prevent costly mishaps)
- Experience home ownership before purchasing your home
- If you are new immigrant, we will help you establish your credit
- If you went through a divorce, we will show you how to rebuild your credit
- If you went through a bankruptcy, we will show you how to restore your credit
- If you are a new graduate fresh out of school, we will help establish your credit
How Does a Rent to Own Program Work?
1. Initial Consultation
First you will be greeted by one of our Rent to Own professionals and have a chance to review our programs and determine which one is best suited to you.
During this consultation, we will run some preliminary calculations and review a basic Rent to Own scenario with you. If you have any questions, and we are confident you will have some, now is the time to voice any and all concerns. We want to know all about your intentions and expectations, so that we have the opportunity to tailor one of our many programs to precisely fit your selection.
2. Determine Purchase Price Range
Once you have selected one of our custom-made Rent to Own programs, you will need to meet with a licensed mortgage broker to go over and evaluate your current financial situation. At this meeting, they will review your credit report, assess your income and expenses, as well as discuss any other details, such as the availability of the down payment.
Based on the information provided by you, the mortgage broker will be able to determine the price range best suited for your purchase. He will then recommend a term for your option and also suggest an estimate of what your monthly expenses will be, once you move into your new home.
From now on, we will work directly with you to establish and/or restore your credit, create a financial plan and put together a budget. Our team is here to ensure you will have all requirements of your purchase option fulfilled by the end of your term (as a tenant).
3. Go Shopping!
Now that we have a Rent to Own program customized to your needs, and we have determined the price range that your new home should fall into, it is time to shop! You will be paired with a licensed real estate agent, who will help you find your dream home or you can work with a listing agent.
The agent will then assist you with finding homes in your desired neighborhood, book viewings, submit offers and negotiate the best terms for your purchase. Although you will not own your home from the start, we believe that it is very important for you to be involved in every step of the home buying experience.
4. Move in to your home
We have purchased your dream home on your behalf and it is now time to move in! At this time you will be required to sign two documents:
- Lease Agreement This is your standard lease agreement, which outlines the terms and conditions of your lease, as well as your monthly rental costs.
- Option to Purchase: This document is your official option to purchase. It will include the predetermined purchase price of your home, the term of your option.
5. Exercise your Option
You are now approaching the end of your Rent to Own term, and it is time to get yourself ready for the closing day! At this time you will have the opportunity to meet again with a licensed mortgage agent to set up your personal mortgage.
What makes our program different
Customized Service
Our Rent to Own programs are individually tailored to suit your personal needs. We work with a dedicated team of professionals, who will help assess your current situation, make recommendations and work with you step by step to ensure your success.
One-on-One Coaching
We’d be delighted to help you calculate your options – right over the phone or in person. Find out exactly how much house you can afford by using our home affordability assessment services. Learn how low your monthly payments could be when using different program options and build the program that is right for you.