Re: Rent to buy arrangements
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
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




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