Long-term lease is one of the most obvious solutions to the "apartment issue". Although many are quite skeptical about renting housing, guided by the principle: it is better to save for your own every month than to pay for a rental.
It is quite logical, but you still have to live somewhere while you dig. If it is not possible to save up or take out a mortgage, you can try to rent an apartment with subsequent purchase. This is the same way of buying housing as participating in joint construction or buying a "secondary". The only difference is that such real estate transactions are quite complex and confusing, and sometimes risky and therefore not very popular. Well, this topic needs to be understood in detail from both the tenant's and the owner's side. By the way, if you have decided to buy real estate, we recommend contacting the best luxury real estate agency. Capital.
What is the essence of renting an apartment?
Long-term rental of apartments for sale attracts not only those who plan to buy their own home. Let's imagine the situation: you are the owner of not the most liquid real estate. For example, a one-room apartment on the first floor of an old five-story building located on the outskirts of the city. It is almost impossible to sell such housing quickly and profitably. What to do? Try to lease it with the subsequent purchase.
The agreement is made as follows:
- An apartment lease agreement is concluded between the apartment owner and the buyer. It clearly states the monthly payment amount and payment terms.
- The buyer regularly pays the rent and part of the purchase price of the home.
- After full payment of the housing price under the contract, the buyer becomes the owner.
Having a contract is very important. You need to think everything through very carefully and consider each of its points separately.
See also: How to rent a non-residential premises?
Who can rent an apartment for sale?
The conclusion of the agreement brings benefits to all its participants:
- The tenant gets the full right to use the leased property, change it at will, sublease and more.
- The landlord gets a permanent tenant who will pay him the stipulated rent for a long time.
Why is renting an apartment for sale not particularly popular? The fact is that, when concluding a contract, none of the parties will be able to accurately predict whether this agreement will be profitable for each of them. And the most important danger lies in the behavior of prices on the housing market. Prices have increased - the seller suffers losses, decreased - the buyer. In market conditions, when the cost of housing can change in one direction or another at any moment, it is almost impossible to guess the price. However, no one forbids agreeing on monetary issues in the contract. For example, parties to a lease-to-buy apartment may agree that monthly payments will be indexed to inflation.
See also: Renting an apartment: how to write an ad correctly?
And this is just one example, there are many more "pitfalls" when renting an apartment for sale. In order to minimize risks, you should calculate the development of the event several steps ahead. That is why it is sometimes easier to enlist the support of a team of experienced experts than to do it yourself. Use the services of THE Capital real estate agency. Specialists will draw up the correct contract, check the legal purity of the agreement and settle all issues related to renting an apartment for sale in Kyiv. Subscribe to our real estate blog updates and get the latest posts from THE Capital real estate agency.
