Cohousing-L Mailing List: Re: Community ownership of a rental property --> rent-to-buy

(continued)

Sharon, thanks for your reply. It led me to find more info in the archives.

But to answer your question...
On 02/05/2012 9:41 AM, Sharon Villines wrote:

Have you been able to institute any rent-to-buy programs?

We considered rent-to-buy as an option but soundly rejected it. I have 

heard that it has been used successfully in some places, but here it's 

too risky, especially for the buyer. There is simply no security for the 

investment until the property has been legally transferred.

I've wondered about exploring the Islamic style of purchase. Charging 

interest on loans is against Sharia law, so they get around it by making 

payments that are partly rental, partly purchase. The property is 

transferred piece by piece somehow.

John Carver
Pacific Gardens Cohousing Community
http://pacificgardens.ca/

Re: Community ownership of a rental property --> rent-to-buy	<– Date –> <– Thread –>
From: John Carver (jcarverislandnet.com)
Date: Wed, 2 May 2012 11:00:52 -0700 (PDT)