‘Rent-to-own a good option for first-time homebuyers’

A rent-to-own contract is a good option for prospective homebuyers who need time to save for a down payment or secure a loan, and gives owners an opportunity to earn a return on their property while waiting to sell it, according to online property advisory and listing firm MyProperty.ph.

Rent-to-own benefits homebuyers, particularly first-time homebuyers, who have not yet saved enough to make a down payment, or who have less than perfect credit or employment history, MyProperty explained.