8. What are my rights and responsibilities as tenant‐buyer? - ZoWy

What are my rights and responsibilities as tenant‐buyer?

Agenda:

  • • Understand my rights as the tenant‐buyer.
  • • Understand my responsibilities as the tenant‐buyer.

The uniqueness of Rent‐to‐Own is that you benefit from being a tenant with the right to purchase the property. Therefore, even though you are a tenant, your rights and responsibilities are pretty like the owners.


The following are your rights as the tenant‐buyer:


  • You have a right to purchase the property for the agreed price.
  • You have the right to live at the property for the whole period until the end of the Rentto‐Own agreement.
  • You have the right to assign the Lease Purchase Agreement to another third party.
  • You can have guests and your family living on a property.
  • You have a right to do refurbishment works to the property, which are not subject to any planning permission or building regulations
  • requirements.
  • You have the right to change decor at the property.


The following are your responsibilities as the tenant‐buyer:

  • You have to pay an agreed deposit and monthly payments.
  • You have to pay building insurance to protect your property.
  • You have to pay all utilities and local taxes for the property.
  • You have to pay service charges and ground rent if applicable.
  • To keep the property clean
  • To keep the property in a good state of repair and carry out maintenance work if required


As you see, your rights and obligations exceed the typical tenants' and give you additional security.

Further reading:

What are my rights and responsibilities as tenant‐buyer?

Agenda:

  • • Understand my rights as the tenant‐buyer.
  • • Understand my responsibilities as the tenant‐buyer.

The uniqueness of Rent‐to‐Own is that you benefit from being a tenant with the right to purchase the property. Therefore, even though you are a tenant, your rights and responsibilities are pretty like the owners.


The following are your rights as the tenant‐buyer:


  • You have a right to purchase the property for the agreed price.
  • You have the right to live at the property for the whole period until the end of the Rentto‐Own agreement.
  • You have the right to assign the Lease Purchase Agreement to another third party.
  • You can have guests and your family living on a property.
  • You have a right to do refurbishment works to the property, which are not subject to any planning permission or building regulations
  • requirements.
  • You have the right to change decor at the property.


The following are your responsibilities as the tenant‐buyer:


  • You have to pay an agreed deposit and monthly payments.
  • You have to pay building insurance to protect your property.
  • You have to pay all utilities and local taxes for the property.
  • You have to pay service charges and ground rent if applicable.
  • To keep the property clean
  • To keep the property in a good state of repair and carry out maintenance work if required

Further reading:

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