Tag Archives: Rent to own

The Federal Mortgage Bank of Nigeria (FMBN) said  it would commence “ Rent-to-Own ” scheme to ease the housing challenges in the country. Mr Gimba Ya’u Kumo, the Managing Director of the bank, told newsmen in Abuja that the “Rent to Own’’ scheme was mainly for Nigerians who could not afford mortgages. “For Nigerians that cannot afford mortgages, the way ...

The Permanent Secretary, Ministry of Housing, Mr. Olatunji Odunlami, has said the Lagos State Government’s rent-to-own policy under the Homeownership Mortgage Scheme will soon commence “We are finalising the rent-to-own scheme; it takes some time for the government to bring out a policy or programme because it must be looked at critically,” Odunlami said at a meeting with allotees from ...

I call this approcah the Rent-to-Own or Lease option. The beauty about rent-to-own is that it takes care of the challenge of the tenant. The dilemma about tenancy is that you can be a tenant in a house for thirty years, paying your rent as at when due. If by the thirty-first year you lose your job and cannot pay, ...