|Re: Rent to buy arrangements||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Sat, 22 Sep 2018 21:50:18 -0700 (PDT)|
> On Sep 23, 2018, at 12:09 AM, Betty Grant <beeegrant [at] gmail.com> wrote: > > At Oakleigh Meadow Cohousing in Eugene the idea of Rent-to Buy has surfaced > as a possible way to stretch our economic diversity. Our concept: a current > member or a group of current members purchase one or more still available > units, then set up a "rent-to-buy" option for an interested party who cannot > afford to buy-in outright. This would not be a money-making scheme for the > "owners", however interest on monies extended to purchase unit(s) would > likely be included in the terms. I don’t have experience with this in cohousing but I know others who have done it. The worst thing that can happen is that the person who owns the unit gets it back in a year or so when the person decides they don’t want or can’t purchase. In the meantime, the owner has had rental income to pay the mortgage. I do think it is important to make reasonable financial arrangements and not inadvertently end up feeling set upon. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
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