What are the Monthly Option Consideration Credits?

As with many Rent-To-Own programs, rent is usually a little higher than your average rent. This is the price of having a long term lease with an option to purchase the property anytime within the term. When payments are always current and on time, a percentage can be credited back to the client at time of purchase of the property. This might be, depending on the client’s file and payment habits anywhere between + or – 25% credited back against the purchase price if needed to qualify for CMHC.

This is also used as an incentive to have the payments received on time. It benefits us and the client since we are helping them establish a down payment at the end of the term by re-crediting him back his monthly option consideration payments.