Bosa Equity is starting a program that will portion out a small percentage of a tenants monthly rent and stash it away to use as a down payment to buy one of their properties.
A lot of first time home owners find it extremely frustrating and difficult to sock away money while still living life, paying rent, having a family, etc. These new Rent-to-Own programs are starting to gain quite a bit of traction, especially in the more expensive desirable areas of the city.
Rent an apartment at a Bosa or BlueSky Properties rental building, and each month up to 15% of your rent is placed in a BosaEQUITY™ Credit Account. This credit can be put towards a downpayment in a future Bosa or BlueSky Properties new home purchase, to a maximum of 3% of the value of the home.
The amount saved will revolve around the tenants lease policy. When their tenancy is expected to renew they will be informed about how much they have saved and be given multiple options at that point.
Currently Bosa has two developments that will participate in this new program. You can live at Lido on False Creek or Viceroy in New Westminster. You can rent at Lido starting at $1295 for a studio, $1595 for a one-bedroom and $2045 for a two-bedroom.