Lease-To -Own Program – About Bryon Howard

As I licensed real estate agent, I also invest in real estate, and I work with investors to help you get the home that you want even if your credit is less than perfect. I want to provide people with affordable properties, with attractive financing, in a demanding market.

Whether you are a buyer, or a seller, a Lease-To-Own maybe the solution for your home and investment needs.

So how does it work?

Lease-to-Own investments are a lot like car leases.  You enter into an agreement where the investor buys the home and leases it back to you with a buyback option at the end of the term.   You will still need a deposit and you will add a portion of your monthly "rent" to that deposit over the term of the rent-to-own agreement. 

Lease-to-Own comes with different names. It is also known as “rent to own”, “lease-option”, "lease-purchase," or "lease with an option to purchase." Essentially, it is a program which helps buyers and sellers.

At the end of the Rent-to-Own term you can approach a bank or Mortgage broker and apply for a mortgage for the remaining balance in order to buy the investors out. (Some investors will hold the mortgage – just like a bank – for 25 years).

This program is not for everybody.  However, if your credit is poor or you do not have a deposit of 5% of the purchase price, then this may assist you to get into home ownership. There is no bank qualifying required on a Rent to Own.

Use this form below to request more information and get started on this program.

Please take a look at our existing inventory or homes. (It changes frequently, and we may have a home that suits you better – so don’t hesitate to ask.)

As Defined by WIKIPEDIA - Rent to Own


Who is Bryon Howard of Alberta Equity Investments 2004 Ltd. and ReMax House of Real Estate?

Bryon Howard moved to Calgary, Alberta from Prince Edward Island in 2003. He immediately got his Alberta Real Estate License and began managing the renovation and selling of Regal Ridge Condo’s at 350 4 Ave NE. He also became a member of Canada’s largest and most sophisticated real estate investment group, The Real Estate Network of Canada, and using this group as support – began investing in single family homes in Calgary.

Bryon believes in the value of Home Ownership. Did you know that the networth of a home owner is 7 times that of a renter?

So what exactly does rent to own or a lease purchase entail?

A standard rental lease allows you to live in the home and there are usually associated move-in expenses such as a deposit and/or security deposit. With lease purchase homes or lease option homes, the "option" agreement gives you the right to purchase the rental home within a certain period of time, and may or may not have an agreed upon price. There is also usually an initial "option" amount due upon signing (similar to a rental deposit) and a monthly additionally payment which applies to the purchase price of the lease option home.

Buying a lease option home through a rent to own lease is one way to save for a downpayment while you get to enjoy all the benefits of home ownership, while living in the house for lease option purchase.

Each ‘land lord’ will have a different program – with different rules! Not all Rent to Own programs are created equally! Be sure to fully understand this type of agreement as you must be willing to see the option all the way through and make your payments on time, or you could risk losing the right to purchase the home and any additional option amounts you paid.

Use this form below to request more information and get started on this program.

Please take a look at our existing inventory or homes. (It changes frequently, and we may have a home that suits you better – so don’t hesitate to ask.)

Benefits of Bryon’s Lease (Rent) to Own Program:

• Your purchase price is guaranteed, even though you will not be exercising your option to purchase the property for one to twenty five years!
• You start to participate in equity appreciation right away.
• Your monthly payment and down payment is affordable.
• It’s easy to Qualify. Your credit bureau score is not a factor in our decision.

How it works:

For most any Rent to Own Program, a small downpayment is required. The down payment is creditied to you as a deposit and will form part of your overall equity in the property.

Your monthly payments comprise of a Rent payment, as weall as Monthly Option Credit payment. The Monthly Option Credits are saved over the lease term and are credited towards the purchase price. This example is based on a purchase price of $280,000.

Please take a look at our existing inventory or homes. (It changes frequently, and we may have a home that suits you better – so don’t hesitate to ask.)

Frequently Asked Questions:

How much Down Payment Do I Need?

It depends.  We will do our best to work with whatever funds you have available. If you do not have all of the required down payment, we may be able to provide you with a graduated down-payment plan.

My credit is lousy, do I qualify?

We are not the bank, and we want to help you become a homeowner. We understand that people make mistakes, and through no fault of their own have a terrible credit rating. Our education system does not provide information on the importance of maintaining good credit. Falling behind on your student loan, forgetting about bank fees, self employment and divorce all affect your credit rating!

All we ask is that you are honest when you provide us with your financial information. We measure our success on whether we are eventually able to assist you in qualifying for a conventional mortgage.

What if I can't afford the monthly rent and option payments?

The monthly rental costs are roughly the same as you would pay on a new mortgage, including property taxes and insurance. If you cannot afford to pay this monthly amount, you can decide to purchase a home that has an in-law suite and use the rental income to assist in your monthly payments. For example, your monthly rent and option payments are $2,400 a month, and the basement in-law suite is rented for $850 a month, the double detached garage is rented for $250. You are responsible to manage these teants, and pay the balance of $1,300 per month.

Is the Purchase Price of the Home Negotiable?

The option purchase price will be fixed over the term of the agreement. No matter how much the home appreciates in value over the term, the purchase price will not change.

What happens if I still can’t qualify for a mortgage at the end of the term?

We will choose a term that will work for your situation. We will look at your particular situation nearer to the end of the term, and extend the program if necessary. If you have followed the program, and been diligent in maintaining a good relationship with us, you should feel confident we will assist you and extend your term. We want you to be successful in owning your own home.

What Happens If I Do Not Want To Buy The House At The End Of The Lease?

You can walk away and owe us no more money.  However, the money you have paid into the down payment is non-refundable. We want to deal with committed people and we will work as hard as you to help you buy this house.

What happens if I am unable to make my monthly payment?

We expect that you honour all obligations under the terms and conditions of our Rent To Own contract. You are responsible to pay the monthly amount on time. If you fail to do this, you will be considered to be in default under the terms and conditions of the Rent To Own contract. If you default, then we reserve the right to immediately start legal proceedings to recover and secure our interests in the property. If this happens, you may lose all equitable interest in the property, including Initial and Additional Option Deposits, and Monthly Option Credits. This is the fine print – and we know this sounds serious.  We would like to make you fully aware of all rights and obligations (both yours and ours) under the terms and conditions of the contract.  Please be aware of everything involved in the contract before you sign. You must have your lawyer review the contract and advise you.

Can I do renovations to the Property?

Yes. Your are responsible for the upkeep of the property, and can renovate the property to suit your tastes as much as you want. You will be the direct benefactor from any improvements that you make – it will increase the value of you investment. You are responsible for all the property’s maintenance. All homes need regular maintenance, so you should budget accordingly when considering the monthly payments.

Are Pets Allowed?

Yes. However, if the home is a condo … we’ll need to check the condo rules.

Please take a look at our existing inventory or homes. (It changes frequently, and we may have a home that suits you better – so don’t hesitate to ask.)