Rent-to-Own Help Centre

At PublicSquare, we welcome all customers up to the age of 55, including first and second-time homebuyers.

We regret that we cannot assist customers aged 55 or over at this time. This is due to our duty of care and banking restrictions, as we need to ensure that you will likely be eligible for a home loan at the end of your rent-to-own lease term.

We prioritize open communication and transparency so that everyone is fully informed at every step of the way.

Thank you for your understanding and consideration.

PublicSquare currently serves homebuyers nationwide.

Our Deposit Stacker product is available in all states.

Rent-to-Own is currently offered for properties in Queensland and New South Wales, with launches planned for other states, including Victoria, subject to local laws and regulations.

For qualified homebuyers, Deposit Stacker is typically the preferred option, allowing you to purchase a home upfront with up to $60,000 in deposit support.

For more information about available homes, and the products linked to each home, please visit the homebuyers search page on our website.

At PublicSquare, we take a compassionate and individualized approach to each application. 

We are committed to working with you to fully understand your unique situation and determine the best path forward. 

Our ultimate goal is to help you obtain a home loan with a lender and we recognize that removing a bankruptcy from your credit report is a critical step towards achieving that goal, 

For your own sake, we must be 100% confident that you have the viability to obtain a mortgage after four years. So if you present as a bankruptee, it will be harder for you to receive approval.

Additionally, we are legally obligated to conduct a competitive application process on behalf of property owners who tend to prefer applicants with clean credit histories.

Bills and utilities for PublicSquare properties work the same way as typical rental properties. 

PublicSquare or the owner of the property takes care of all the usual landlord costs that landlords, such as insurance, rates, and the NBN connection, while you connect and pay for your own utilities including electricity and internet. 

To get a full breakdown of the estimated costs for a specific type and price of home, you can complete the pre-approval process and speak with your application manager.

Bond for rent to own homes works just like regular rental properties. We normally cap it at $2,000 to make it a little easier on you. However, in some rare cases, the owners of the rent to own properties will require 4x the rental portion of your weekly payment.

At PublicSquare, we help you build up a deposit to buy your home by paying an upfront Kickstarter and then weekly contributions. 

If you opt for renting to own,  your weekly contributions (50% on top of rent) will accumulate into your deposit, which you can use when you're ready to buy the home. 

We aim to help you accumulate a deposit amount of at least 10-15% of the home's final purchase price before the end of your 8-year lease. 

You can also bolster this amount using your savings or cash gifts you receive from friends and family. 

For a complete picture of the deposit you can accrue with PublicSquare, we recommend checking out our interactive calculator.

Although not a requirement of all lenders, many will ask to see 5% of genuine cash savings as part of your eventual home loan application. For those who accept rental statements as proof of genuine savings, PublicSquare will provide the necessary documents.

Your 'buying power' is the maximum value of the property you can afford in terms of weekly payment serviceability. 

After you complete your pre-approval, we will provide you with an estimate of your buying power which will depend on your income and living expenses. 

Fill out our preapproval form, and we will provide you with an early determination of your buying power range.

We also recommend having a play with our online calculator to see what you might reasonably afford. 

One of the great benefits of our rent-to-own program is the flexibility it offers. You have the option to purchase the home at any time after three years and before eight years. 

We'll keep you up to date about how much deposit you've accumulated, so you'll know how much you can put towards your purchase. 

When you're ready to exercise your option to purchase, please let us know at least a couple of months in advance. This will give us enough time to get the ball rolling and ensure a smooth transition from renting to owning. 

It's important to refer to your contracts for the exact details of how to exercise your purchase option. Our team will also be available to answer any questions you may have and guide you through the process. When the time comes, we can provide you with some helpful data about your home and suburb valuation to give you an idea of the current market value of your property. 

This can be useful when communicating with your lender and calculating your deposit amount. Just like buying a home the regular way, you will probably need a mortgage. After notifying us, this should be the first step in the process of purchasing your home. 

At PublicSquare, we're committed to helping you achieve your dream of homeownership. If you have any questions about the purchase process or anything else related to our rent-to-own program, please don't hesitate to ask.

Please visit our calculator at THIS LINK.

The calculator will help you estimate the costs and benefits of renting-to-own your new home. 

You can choose from any of the properties we offer via our home listings page, email or SMS promotions.

Due to high demand, we recommend getting pre-approved as soon as possible so that you're on our mailing list. 

This way, when new properties become available in your region and open for application, you will be the first to know via our notifications.

Having a good credit score is an important factor when it comes to financial stability. That's why we generally prefer applicants with a credit score of 600 or higher. 

However, we still encourage anyone with a lower credit score to apply for pre-approval and provide any relevant information about their financial situation when asked. 

We review each application case by case, so we're happy to hear about any details related to your credit history. If you've had credit defaults in the past, it's worth noting that they'll usually be cleared from your credit history after five years. 

This means that even if your credit score is currently lower than we'd like, PublicSquare may still be an opportunity for you to get started in the housing market while you work on improving your credit. 

That being said, we also take your future financial health seriously. If we believe that your credit history will continue to impact your eligibility for switching to a mortgage, even after several years, we may have to decline your application for your own best interests.

If you are choosing to rent to own your property, you may not be eligible for the First Home Owners Grant to use towards your Kickstarter payment because the property will initially be owned by PublicSquare or a participating landlord, not you. 

If you choose to buy a property upfront with a mortgage using PublicSquare's Deposit Stacker initiative, you will be eligible for all applicable grants and home loan support in your state including the new homebuilder grant if the property is brand new.

Our goal is to ensure that every customer we work with ends up in a better position than where they started.

If you are unable to obtain a home loan in years 4 through 8 of your tenancy, we can sell the property without charging you a sales commission. This allows you to recover as much of your contributions as possible.

For example, if the market value of your home exceeds the minimum sale price and we sell the home because you cannot secure a mortgage, you will receive a full refund of all your contributions to date, including your weekly payments. The only expenses you will pay will be a $5,500 marketing fee to cover advertising and photography costs, incurred by listing the property on realestate.com.au. 

Importantly, if the final sale price is less than the minimum sale price, we will reduce your contributions to make up the shortfall.

More Information

You can check the minimum sale price calculations on the calculator page. Furthermore, agents typically charge 2.75% in commissions for selling residential properties, which can amount to a $25,000 for a standard home. However, under our Future Mortgage Guarantee, we waive this fee entirely.

To be eligible for the guarantee, you must apply for a home loan and be declined by at least three lenders, including one competitive option provided or referred by PublicSquare. We will provide you with a copy of our Future Mortgage Guarantee terms and conditions before you commit to a property, ensuring you have a chance to review the details. We keep it as straightforward as possible, with all terms and conditions fitting on a single page.

PublicSquare understands the importance of obtaining a home loan as soon as possible within years 4 though 8 of your tenancy agreement.

We aim to provide a transparent and supportive home buying experience which helps to make the process as seamless as possible.

We also strive to ensure that we are only approving customers who are likely to be eligible for a mortgage down the road. 

While PublicSquare offers guidance and support throughout the process, we cannot make any guarantees regarding your ability to obtain a mortgage. 

However, we can refer you to a mortgage broker and work with you and the broker to best prepare for mortgage eligibility. 

You can also opt to sell the property in the open market, which can earn you reimbursements for the majority of your contributions. 

If you try to get a mortgage but can't get one, we offer a Future Mortgage Guarantee that can help you either obtain a mortgage from a lender or broker referred by PublicSquare or sell the property on your behalf with minimum costs, 

PublicSquare or the appointed Property Managers will follow the standard Rental Tenancy Agreement rules for conducting physical inspections of the property. 

This usually means that twice every year during the lease, the Property Manager at a reasonable time of the day, after at least two days' notice, will enter the Property and check the Property's state of repair.

This is to ensure that the property is being maintained in good condition and to address any repair needs in a timely manner. If any defects are found during an inspection, the Lessee will be notified in writing and given a reasonable amount of time to make any necessary repairs in accordance with the terms of their lease agreement. 

Interest rates do not affect your lease agreement with PublicSquare. This provides you with protection against changes to the Australian cash rate. 

However, when the time comes to exercise your purchase option, you will need to secure a mortgage, and the interest you pay on your mortgage will then depend on the interest rates of the day.

To lock in your selected Rent-to-own property, you will be required to pay the Kickstarter fee equalling 1.1% of the Initial Home Value (incl. GST). 

Paying this fee demonstrates you are serious about becoming a homeowner. It allows us to prioritize you over other applicants and get to work facilitating the paperwork between you and the participating landlord.

So as an example, if the property you've chosen is $700,000, your total Kickstarter Fee will be $7,700 (Incl. GST)

This fee shall be fully refundable to you within 10 business days if you elect not to move forward with renting-to-buy a property, and, DO NOT execute any subsequent agreements facilitated by us, incl. the Agreement to Lease.

In summary, PublicSquare's 1.1% Kickstarter Fee is a much easier and more manageable amount to save when compared to a home loan deposit which may also require LMI.

The standard lease term (i.e. the length of the lease) is eight years but can be extended further through a renewal if agreed to by yourself and the participating owner. 

After four years in the lease, you can buy the home from the participating owner. Alternatively, you can request a sale of the property in the open market. 

If plans change and you need to exit the lease earlier than four years, please reach out to our friendly support team to help you explore your options which may involve reassigning your lease and buy-option to another family.

At PublicSquare we are committed to providing you with a transparent, straightforward experience that empowers you to make informed decisions about your future home. 

After you've been fully approved and have selected a property, we will provide you with a copy of the lease for your review. 

The lease is a legally binding document that covers all the important information that is already available to you on our website including the Kickstarter contribution, weekly rental payments and contributions, deposit accrual and your options to purchase the property or request it to be sold in the open market. Both of which, you can do after four years of living in the property. 

Additionally, before you sign the lease, PublicSquare requires you to seek some legal advice to ensure you fully understand the details of our agreement. 

Your application manager will simplify the process of obtaining legal advice by providing you and your lawyer with all the materials you need in a single file that includes step-by-step instructions. 

The cost of engaging a lawyer for a legal advice report is usually around $1,000 and typically requires only a couple of hours of work from your lawyer. 

If you don't have a lawyer, we can recommend one to you without any conflict of interest.

The owner of your selected property will be responsible for covering maintenance and repair costs during your tenancy under typical RTA lease agreement arrangements. The owner will also be obligated to keep the property insured.

If you are selecting a pre-existing property, before you make an offer, you will have several opportunities to inspect the home and identify any defects. PublicSquare will also engage a qualified building and pest inspector to attend to the property, and we will provide that report to you before you commit to the deal. 

If significant repairs are needed in the first few years, you can choose a different property or if you think it's manageable, you discuss the matter with PubicSquare to determine how these costs might be dealt with between the parties.

At PublicSquare, we assess your serviceability based on your income minus the cost of renting a PublicSquare home and paying your weekly contributions, as well as your current debts and living expenses. 

Having sufficient income to cover these expenses is necessary to obtain pre-approval. To estimate your weekly costs, visit our Calculator page, which provides an estimate based on your desired property price. 

Our team is available to answer any questions you may have after you've been pre-approved. 

We welcome all potential homebuyers to apply, no matter their background. International citizens are also welcome. 

As an online platform, PublicSquare does not offer office appointments like banks. Instead, we provide a range of convenient and efficient ways for customers to connect with our customer service team after they have been pre-approved. 

Customers can chat with the team via the online messaging service, speak to them over the telephone or video call, or access our comprehensive knowledge base here on this website. 

When you inspect and move into a home, you will meet the property manager face to face and can answer questions specific to the property. All questions specific to our rent-to-own or commission refund products should be directed to your PublicSquare Application Manager after you have been pre-approved, 

At PublicSquare, we understand that owning a pet is an important part of many people's lives. That's why we're proud to offer pet-friendly rental properties that allow you to bring your furry friends along with you. 

When renting a property with PublicSquare, you may keep up to two (2) pets in the Property in accordance with all laws and regulations (including any body corporate by-laws). 

However, if you have pets that are greater than 20kg in weight, you will need to seek written approval from the Lessor or their agents. 

This is to ensure that the property is suitable for your pets and that there are no issues with noise or damage to the property. It's important to note that while we do allow pets in our rental properties, it's your responsibility to ensure that your pets are well-behaved and don't cause any damage to the property. 

You'll also need to make sure that you clean up after your pets and keep them under control at all times. If you're interested in renting a pet-friendly property with PublicSquare, please let your Application Manager know. 

We'll be happy to provide you with more information and answer any questions you may have about our pet policy. Thank you for considering PublicSquare. We look forward to helping you find a home that both you and your furry friends will love.

If you're a new Australian who is awaiting Permanent Residency (PR) or Citizenship, you may be wondering if you're eligible for our rent-to-buy homes product. 

We understand that being forced to rent can be frustrating, especially when you have the means to own a home. That's why we've designed our program to help you achieve that dream, even if you're not yet a permanent resident in Australia. 

At PublicSquare, we're committed to making home ownership accessible to as many people as possible, regardless of their legal status. To be eligible for our rent-to-buy homes product, you don't have to be a permanent resident in Australia. 

However, it's important to note that not having an Australian income history may affect your eligibility. If don't have a consistent income history in Australia, we may require additional documentation or proof of income from your home country to assess your eligibility for our program. 

We want to ensure that you're able to make your rent payments on time and that you're a good fit for the program. Once you become a permanent resident or citizen, you'll be able to purchase the home you're renting through our program.

 This means that you'll have the opportunity to build up a deposit while living in your home and waiting for your PR or citizenship status to be approved. So you can settle into your own home many years sooner. 

If you're interested in learning more about our rent-to-buy homes product, please visit our website. We're here to help you achieve your dream of home ownership, even if you're not yet a permanent resident in Australia. 

Life can be unpredictable, but PublicSquare is here to help. 

We understand that circumstances can change, and we offer a hardship policy that includes options for payment deferrals or selling the property if needed. 

It's important to understand that PublicSquare and the participating owner (where applicable) have a financial interest in helping you retain your home and lease agreement if you miss some payments. 

In other words, it's not in anyone's interest to kick you out of your home. So if something goes wrong and you need to defer some payments, we will do as much as possible to help you through it. 

In times of financial hardship, PublicSquare may be able to provide you with more options compared to banks, landlords, or real estate agencies. 

As part of our hardship policy, which you can access on our website, solutions to payment defaults will depend on your unique circumstances and may include temporary payment deferrals, or, if things get really bad, selling the property, which could result in returning most of your contributions to date. 

If you are at risk of defaulting on your payments, we are here to help, and we won't judge you. Please reach out to our support team as soon as possible to arrange a phone call or coffee.

At PublicSquare, we aim to support customers of all income levels. However, it's important to note that we must ensure you have adequate income levels to afford your selected property while you prepare to buy it. 

To become a member of our community, we request verification of your income history to ensure stability throughout your time with us. 

Eligibility for home loans is also required for our evaluation process. We work with you to make the application process as seamless and inclusive as possible.

PublicSquare requires potential customers to complete a pre-approval form on their website before beginning the application process. 

This form assesses various factors such as purchase power, savings levels, and the availability of PublicSquare services in the customer's region to determine eligibility. 

The form takes around 5 minutes to complete and customers receive their results instantly via email. This process helps ensure that customers are eligible and ready to start their home-buying journey with PublicSquare.

If the property is pre-existing, PublicSquare will help you negotiate the initial home value with the owner. 

If the property you have selected is brand new or yet to be built. In that case, the initial home value will usually be the same as the price paid by PublicSquare or the participating owner to acquire the property.

However, if the property is being bought off the plan, and the contract price was agreed to by PublicSquare or the participating owner some months ago, it may be reasonable to expect a slight price increase when signing your lease. However, it is also our prerogative to advise the owner to match the starting home value to their purchase price on the basis that they are already receiving a good deal.

Wherever relevant, we will make sure you get an independent valuation report to help you make an informed decision about the initial home value. And, ultimately, you will always get the final say on whether you agree with the price and want to proceed. 

After 4 years of leasing the property and before 7 years, when it‚Äôs time to complete your purchase, an independent valuer will assess the property value according to the prevailing market conditions. As the Homebuyer, you will be responsible for paying the price of this valuation, which normally ranges from around $800-$1800 depending on your region and may be payable in instalments. 

The final purchase price will be the valuer's price, or the Initial Home Value plus 5% annual capital appreciation, whichever is higher. 

If either party disagrees with the valuation, there will be options under the lease for ordering a second opinion and taking the average of the two. In this case, the party that disagrees will pay for the second valuation.

For reference, Australia's national average is **6.8% for houses** and 5.9% for apartments (CoreLogic, 1993-2018). However, it could be higher or lower during your lease. 

If you're worried about the growth of your property dipping under 5% per year during your lease, just remember that you control when you purchase the property within a 4-7-year timeframe, so you can keep an eye on housing prices and exercise your option when it makes sense to you. 

Regardless of whether you're renting-to-own or obtaining a buying a property through PublicSquare the traditional way with a mortgage (and PublicSquare's $15,000 commission rebate), fluctuating property prices is a risk you should carefully consider. For a complete picture of the costs involved with PublicSquare, we recommend checking out our Calculator

It is important that you make informed decisions about the properties you choose. 

When you've completed your final application and been approved for your chosen property, your Application Manager will provide you with a range of materials regarding the property, such as an independent valuation, and building and pest inspection report for pre-existing properties. 

For new properties, information about the home inclusions and estate is available at any time upon request. 

Please review these items carefully because just like buying a property the traditional way, you will ultimately be responsible for agreeing on the initial home value and state of the property.

The participating landlord will be legally obligated to buy and maintain landlord's insurance for your property for the full duration of your lease. 

Normally the policy would include building insurance, flood insurance, and some level of contents insurance. If you require more coverage for your contents, you can speak with the Property Manager about increasing the sum insured. 

For added protection, we also advise our customers to take out a renters insurance policy.

In some limited circumstances, PublicSquare and the participating landlord may allow you to carry out renovations on your property. Before renovating the property, please obtain our written approval by contacting your property manager. They can assist you with the process and help ensure that your plans align with our policies and are approved by the owner who will have the final say. 

Living in the property yourself is a requirement of your lease. However, if you want to rent out a room to a flatmate, your Property Manager and the Owner may allow it with prior notification, as long as you continue to reside in the property yourself. 

By default, your lease contract prohibits subleasing, so if you sublet the property without obtaining permission from your Property Manager, you may be in breach of your lease. 

Additionally, insurance coverage may become void if the property is damaged, making you responsible for covering repair costs. Please contact your Property Manager to discuss your requirements.

The average property growth rate in Australia is 6.8% for houses and 5.9% for apartments per year; CoreLogic 1993-2018. 

In exchange for giving you control over when you can buy the property, PublicSquare or the participating owners require a minimum amount of appreciation per annum which you can view in the calculator, being just 4% after 6 years.

If the market doesn't perform well, and you don't want to buy the home anymore, you have the option of requesting a sale of the property in the open market and potentially receiving reimbursements for the majority of your contributions. 

Alternatively, you can continue living in the property for up to 8 years, to see if the market recovers, and you can exercise your buy option at a time that is convenient to to you. 

Regardless of whether you're renting-to-own or obtaining a traditional mortgage, fluctuating property prices is a risk you should carefully consider. For a full estimate of how the numbers work, please visit our calculator.

Our current initial home value limit for rent to own homes is set to $900,000.

If you are pre-approved, we will immediately let you know your estimated buying power on your pre-approval results page. This amount may increase after you submit more information during the final application. 

Our team is available to assist you in navigating the home-buying process and answer any questions you may have regarding our purchase limit.

The pre-approval and full application forms are designed to save all the answers, and you can revisit them at any time as long as you don't clear your browser history. 

Your answers and attachments will remain in place when you click the link in the last email we sent you. 

However, to ensure the security of your existing answers, we recommend keeping the form application browser window open on your device until you have fully completed the form.

If for whatever reason, you decide not to proceed with purchasing the property, PublicSquare can assist you with putting it up for sale. 

We aim to achieve the best possible sale price based on current market conditions and reimburse as much of your contributions to date as possible. 

We offer a future mortgage guarantee, in case you can't find your own home loan which allows you to request a sale of the home and recover up to 100% of your total weekly contributions minus a $5,500 marketing fee we need for marketing the property during a sale to a third party. 

See our calculator for more estimated figures based on the performance of the property.

One of the benefits of working with PublicSquare is that customers are not required to pay any upfront stamp duty or transfer duty fees, or only a limited amount less than $100.

This allows customers to focus on finding their ideal home without worrying about additional expenses. PublicSquare aims to make the home buying process as stress-free as possible and offers a smooth and hassle-free experience from start to finish. 

Just like buying a regular property, when completing your purchase of your PublicSquare home, you may be obligated to pay stamp duty costs required in your state or territory.

However, you may receive concessions applicable to your household circumstances and state of residence.

The only upfront expenses you'll need to pay before you move in are the 1.1% Kickstarter Fee, and standard rental bond (normally capped at $2,000), as well as a legal advice report which is usually around $1,000. 

You do not need to pay Lender's Mortgage Insurance (LMI) or Stamp Duty, which could save you tens of thousands of dollars upfront. 

However, LMI and Stamp Duty may apply when you switch to a mortgage and complete your purchase.

Wait times depend on the property selected and whether that home is still being built or has existing tenants who need to finish their existing lease term. PublicSquare understands that waiting can be frustrating. 

Additionally, some states and regions may not have any available properties at the time of your application. Please submit your application to ensure you are first to know when homes become available in your region.

Before you sign or pay anything, the PublicSquare team will work with you to determine your total weekly payment amount for the first year of the lease. 

Your payment amount will be comprised of your weekly rental amount plus weekly contribution, which will be equal to 50% of the rent.

So imagine you pay $600 in rent each week. Just add 50% ($300) as your weekly contributions, for a total of $900 per week. 

The rent amount is decided by the Property Manager who will perform a rental appraisal at the beginning of each lease year to align the rental portion with other similar properties in your suburb, and adhere with all local tenancy laws, which may increase rental caps and freezes. 

If either party disagrees with the rental appraisals, there will be options under the lease for ordering a second opinion and taking the average of the two. 

For a complete picture of the costs involved with PublicSquare, we recommend checking out our Calculator