The Rent-to-Own Program

What is Rent to Own?

Rent to Own is a program that helps individuals get on the path to home ownership, even if the banks have said no.  Some examples of these types of individuals include those who:

  • Are self-employed
  • Have little or bad credit
  • Have gone through bankruptcy
  • Have been denied financing by the banks

Rent to Own means that you have signed a lease for a specified length of time (typically 1-3 years) and that you also are given the exclusive option to buy the property. You pay a 4% down payment (an “option fee”) at the beginning of the lease; this fee is credited back to you as part of your overall down payment when you purchase the home at the end of the term.  In addition to this, each month a portion of your rent will also be set aside and credited back to you when you buy the home, as part of your down payment.

Our clients are individuals who are able to afford a mortgage, but for a variety of reasons, are not able to qualify for one right away.

How does the program work?

1. Our clients fill out an application form.

2. Once our clients have been through the application and approval process, we send them out with our real estate agent to shop for a home that fits their criteria and meets their budget

3.  We set our clients up in the home for a term of approximately one to three years

4.  Throughout the length of the term, we work with our clients to achieve two goals: one, to save up enough of a down payment to purchase the home at the end of the term and two, to build up enough credit so that they can successfully obtain a mortgage.  The first goal is achieved by providing a minimum down payment of 4% at the beginning of the term, and monthly rental credits (a premium that is added to the monthly rental amount but counts towards the overall down payment).  The second goal is achieved by having our clients go through our credit coaching program which will prompt them to actively work towards repairing their credit.

5.  At the end of the term if the two goals are realized (ie. a large enough down payment is saved and enough credit is built), our clients purchase the home and it becomes their own.


One Tree Real Estate Solutions is a proud founding member of the Canadian Association of Rent to Own Professionals


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