We use an example of a customer below to enable you understand how this works in practice. Detailed explanation and basic arithmetic of real life examples have been provided below, for targeted qualified tenant buyers to understand.
If you lack this basic understanding, you're strongly advised to seek independent financial and/or legal advice from a qualified professional before using our services.
Getting Started Money, GSM
This is the lump sum amount you're required to pay to us within 72 hours of moving in. Minimum of 5% of the price is the final property price is required as GSM.
Monthly Rent, MR
Set at 1% of Property Selling Price.
Monthly Option Payment, MOP
To give you the option to buy the rental property, we set aside 10% of your monthly rent to build up equity in the home for you, to be part of your down payment for a mortgage.
Total Option Payment, TOP
Accumulation of all Monthly Option Payments.
REAL LIFE EXAMPLES
Patience Boateng (not her real name), is a 30 year old immigration officer who earns GHS2,613.33
A. Computations based on our Starter Price of a ONE-BEDROOM at GHS120,000
Legend:
GSM - Getting Started Money
MR - Monthly Rent
MOP - Monthly Option Payment
TOP - Total Option Payment
Table A1
At the end of the tenancy
At any time you want to pay off the property or upgrade it to a mortgage option, the following happens:
Table A2
MORTGAGE UPGRADE OPTIONS AFTER 5 TENANCY PHASE
Table A3
..
B. Computations based on our Starter Price of a TWO-BEDROOM at GHS250,000
Legend:
GSM - Getting Started Money
MR - Monthly Rent
MOP - Monthly Payment
TOP - Total Option Payment
C. Computations based on our Maximum Price of a THREE-BEDROOM at GHS800,000
Legend:
GSM - Getting Started Money
MR - Monthly Rent
MOP - Monthly Payment
TOP - Total Option Payment
..