Rent-to-Own Frequently Asked Questions
Have questions about how Rent To Home Now works?
Below you’ll find clear answers about qualification, payments, timelines, home types, and what to expect during the rent-to-own process. These FAQs apply to all cities we serve across Alberta, Saskatchewan, and Newfoundland.
How does the program work?
We help you determine a realistic home-buying budget based on your future qualifications. Once your budget is set, you choose the home you want within that price range. You then lease the home for a set term while building future equity, improving your credit, and saving your option funds. At the end of the term, you have the option to buy the home at the pre-agreed purchase price.
Who qualifies for rent-to-own?
Anyone who has stable income, a reasonable down payment plan, and the ability to improve their finances during the program may qualify. We work with families, self-employed individuals, newcomers to Canada, and people who need time to become mortgage-ready.
What do I need to start the program?
Steady household income
A minimum starting option amount (future down payment)
Commitment to improving credit and finances during the program
Desire to purchase a home at the end of the term
How long is the program?
Most programs run 2–4 years, depending on how long you need to become mortgage-ready. Your term length is chosen up front so you know exactly what to expect.
How expensive of a home can I buy?
This depends on your future mortgage qualifications (income, debt, credit, and savings). During the application, we calculate your maximum purchase budget using lender-approved guidelines.
What types of homes are available?
We focus on move-in ready, family-friendly homes:
single-family homes, townhouses, and duplexes in good neighbourhoods.
We avoid condos with high condo fees, luxury homes, or properties that need major renovations.
What is an option consideration?
Your option consideration is your future down payment. It is separate from rent, goes directly toward your purchase, and helps you qualify with lenders at the end of the program.
Can I make changes to the home?
Yes — minor cosmetic upgrades (painting, décor, etc.) are usually fine.
Major changes must be approved in advance since you don’t own the home yet and we need to protect the investment.
Can I have pets?
Most homes allow pets, but final approval depends on the specific property and landlord/JV partner. We do our best to match you with a pet-friendly home.
I am new to Canada — can I still qualify?
Yes. We frequently work with newcomers who need time to build credit and establish Canadian income history. If you have stable employment and a clear plan to improve your finances, you may qualify.
The most important requirement is permanent residency. Once you have PR status, we can help you move toward homeownership while you continue building your credit and financial profile.
