Rent-to-own opens a new path for aspiring homeowners in northern Ontario

by Innovation Factory
July 14, 2022

ORIGINAL ARTICLE, Angela Gemmill, CBC News, July 12, 2022

When Maria and Jose Andrade arrived in Canada in January 2021 they didn’t have any credit scores in this country. That made it difficult to try to get a mortgage for a house in Sault Ste Marie, Ont., where they decided to settle.

Jose started looking for options and found Requity Homes, which offers a rent-to-own program. It wasn’t long before the couple moved into their dream home in September 2021.”We think that was the best thing we ever could do,” Maria said.

New path to home ownership

Requity Homes first started in Sudbury, North Bay, Sault Ste Marie, and Thunder Bay. They have since expanded to Saskatoon and Regina, Sask. The Canadian real estate start-up business is working to help first-time home buyers move into homes using a rent-to-own model.

The firm is “creating a new path to home ownership in Canada through a modernized rent program,” said founder and CEO Amy Ding.

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Meet #iFinnovator Requity Homes

At Requity Homes, we believe in the power of homeownership. Owning a home is so much more than just having a roof over your head. It’s a place to call your own, to raise a family, and to build wealth.

Yet, too many families find themselves on the outside looking in, feeling stuck renting. Rising home prices, stagnating wages, and tightening mortgage requirements have left many unable to achieve their homeownership dreams.

We started Requity Homes with just that problem in mind. We are creating an alternative path to homeownership to bridge that gap.

www.requityhomes.com

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Original Article on Innovation Factory

Innovation Factory

Innovation Factory is a business accelerator, dedicated to helping Ontario-based businesses launch, scale, and succeed. Supporting the Brant, Halton, Hamilton and Norfolk regions, we provide start-ups, and scaling companies with advisory services, training, mentorship, and strategic connections to help bring disruptive technologies to market, leverage intellectual property, increase revenues, attract investment and create jobs. Innovation can happen anywhere, our goal is to make it work everywhere. We work to elevate key industry sectors including advanced manufacturing, clean tech, information technology, smart transportation, life sciences & health care and social innovations. We are passionate about driving the growth of Ontario businesses like yours. Whether you are an entrepreneur bringing new ideas to market or a scaling business trying to get to the next level, we want to help.