Rent to buy is an attractive option for any person wanting to buy a property but who simply doesn’t have the necessary starting capital.
A rent to buy agreement is an arrangement that allows for the rental of a property for an agreed period of time with the option of buying the property before the lease ends.
There are several reasons why this is a good option for anyone who wishes to buy their own home.
Additionally, the seller can also enjoy benefits from a rent to own agreement. When renting property to a potential buyer, the chances that they will damage the property is minimal. Therefore, repair and maintenance costs will be kept to a minimum.
Before signing any form of agreement, it’s always best to consult with a legal professional.
We are experts when it comes to property law in South Africa and will gladly assist you with making the decision to enter into a rent to buy agreement.
Contact us for proper legal advice.
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