What is Rent-to-Buy? How Does Rent-to-Buy Work?

Rent-to-buy homes offer a new path to homeownership. With no hidden fees, set weekly rates, and an easy-to-manage payment system, rent-to-buy homes from PublicSquare provide a solution to rising property costs in Australia. But how does rent-to-buy work, and what are the benefits of renting to buy? If you’d like to find out more about how rent-to-buy works, feel free to contact us.

Rent-to-Buy Costs and Payments

With a PublicSquare lease agreement, you pay your weekly rental amount plus an additional 50% as a weekly contribution. Our rent-to-buy real estate system offers more stability, as you won’t have to worry about being evicted or the property being sold. With us, you’ll gain access to the benefits of a rising market and start building wealth through ownership. For a full list of figures and breakdowns, be sure to check out our homebuyer calculator.

Getting Started with Rent-to-Own

Forget about the standard 10%-20% deposit required by most lenders; PublicSquare only requires 1.1% to secure your home. This makes it much easier for those looking to get on the property ladder compared to most banks and lending institutions. Why wait years to move into your dream home when you can be settled in just a few months?

Why Choose PublicSquare for Rent-to-Buy?

PublicSquare provides an innovative path to homeownership for those who want to get ahead sooner. We have already helped customers rent-to-buy houses in Queensland and rent-to-buy houses in New South Wales. Our goal is to bridge the gap between renting and owning, and we’re proud to help our customers achieve their homeownership goals faster, easier, and more affordably than they ever thought possible.

No Upfront Fees for Rent-to-Own

With PublicSquare, you only need to pay a small weekly support fee of $27.50 for unlimited assistance throughout your lease, plus initial legal fees (usually under $1,000) and a standard rental bond. These costs are a fraction of what you’d expect to pay if you were purchasing a home directly.

By avoiding the standard large deposit requirements and other fees (such as LMI and stamp duty), you can move into your dream home within weeks, not years.

Future-Mortgage Guarantee: Exclusive to PublicSquare

After living in your property for four years, you can opt to buy the property using the lender of your choice. If you’re unable to obtain a home loan, PublicSquare can sell the property for you without charging a sales commission, enabling you to recover your contributions. T&Cs apply.

Summary

Rent-to-own homes are an excellent choice for would-be homebuyers who don’t want to continue wasting money on rent and would like to build up their deposit while living in the home, with the flexibility to complete their purchase over several years. PublicSquare offers a technology-focused product that customers love, with manageable contribution amounts to help you grow your deposit and complete your home purchase. Using modern software, PublicSquare also processes customer applications up to 10 times faster than traditional banks.