Aeon Towers is extending its Rent-to-Own Program option for homebuyers.
The program was launched by Aeon Towers to give chance for aspiring clients who wish to acquire a prized unit at the property through monthly rental and it comes with as much as 10% discount on their purchase. The previous promotions and activities that took place last year have contributed in making Aeon Towers a desirable mixed-use development home seekers would love to invest or live in.
Rent-to-Own Homes: How the Process Works
If you’re like most homebuyers, you’ll need a mortgage to finance the purchase of a new house. To qualify, you must have a good credit score and cash for a down payment. Without these, the traditional route to homeownership may not be an option.
There is an alternative, however: a rent-to-own agreement, in which you rent a home for a certain amount of time, with the option to buy it before the lease expires. Rent-to-own agreements consist of two parts: a standard lease agreement and an option to buy.
Here’s a rundown of what to watch for and how the rent-to-own process works. It’s more complicated than renting, and you’ll need to take extra precautions to protect your interests. Doing so will help you figure out whether the deal is a good choice if you’re looking to buy a home.
Key Takeaways
A rent-to-own agreement is a deal in which you commit to renting a property for a specific period of time, with the option of buying it before the lease runs out.
Rent-to-own agreements include a standard lease agreement and also an option to buy the property at a later time.
Lease-option contracts give you the right to buy the home when the lease expires, while lease-purchase contracts require you to buy it.
You pay rent throughout the lease, and in some cases, a percentage of the payment is applied to the purchase price.
With some rent-to-own contracts, you may have to maintain the property and pay for repairs.
About Aeon Towers
Aeon Towers is the iconic and flagship mixed-use development of FTC Group of Companies housing not just premium condominium units but also commercial spaces and soon a 5-star hotel and serviced apartments. The hotel component is eyed to be the next choice of accommodation for residents and visitors in the coming years as tourism in Davao City will be on full swing once more.
“We are very excited now that the pandemic is at ease here in the city and we are able to cater more clients in and out of Davao who are eager to invest at Aeon Towers. Rest assured we will support the city’s efforts in promoting Davao City as a venue for tourists and MICE activities,” Aeon Luxe Properties President and CEO Ian Cruz said.
Message us at www.facebook.com/AeonLuxeProperties to know more details about the promo.
