How does the rent-to-own model work?

In our rent-to-own model, tenants sign a lease agreement that also acts as a progressive purchase contract. A portion of each monthly rent payment is allocated towards building equity in the home. This continues until the tenant buys back the property value.

What percentage of the rent goes towards building equity?

80% of each monthly payment is directly applied to equity in the property. This rate ensures that tenants can build a significant stake in the property over time while also covering necessary expenses and maintenance.

What happens if a tenant decides to move out before they fully own the home?

If a tenant decides to move out before gaining full ownership, they can sell their accrued equity in the home back to us or to other GenRent tenants.

How are the properties valued, and who performs these valuations?

Properties are valued annually by independent certified appraisers to ensure fairness and market relevance. These valuations help us update property prices accurately and keep tenants informed of their investment's current market value.

What kind of properties does the company invest in?

We focus on residential properties in stable and emerging neighbourhoods that show potential for growth in property values. We prioritise 1 and 2 bedroom homes that appeal to a broad range of tenants.

What criteria do you use to qualify tenants, considering they might have low or no credit scores?

We select our tenants based on a lottery system. We believe that anyone who can pay rent should be able to own a property. For this reason, we do not evaluate tenants based on their credit score, employment history, income stability, or rental history. This approach allows us to fairly include those who may be excluded by traditional housing markets.

How do you handle property maintenance and management?

20% of tenants’ monthly payments are allocated to fund property maintenance and management. We have a dedicated property management team that handles all aspects of maintenance and repairs. This team works to ensure properties are well-maintained and tenant issues are resolved promptly, providing a high standard of living for our tenants.

What happens if a rent payment is late or missed?

We appreciate life does occasionally get in the way. Tenants have two weeks to pay any outstanding amounts. If tenants continue to be in rent arrears, they can be evicted under ‘section 21’ notice.

How does the company mitigate risk associated with tenant defaults?

We mitigate risk through rental insurance policies. These strategies help manage any financial impacts from tenant defaults and ensure the stability of our investment model.

What steps should I take if I’m ready to start the rent-to-own process?

Please register your interest by signing up to our Waitlist.