rent to own house and lot are being introduced in the market especially on places Paranaque which is near to the busy districts of Manila. So here are the 3 benefits that I know why you should buy rent to own houses:
Rent becomes Investment
In rent to own houses, your payment goes directly to the landlord. While in an ordinary rent, all of the money goes to the landlord, here only a portion will be going to the landlord while the remaining will go as your payment to own the house.
Move in Quicker
In a regular housing, you will need to pay first for a down payment of the house for you to move in to the house which usually takes months or a year for you to transfer. In a rent to own housing, moving in can just take week.
Many owners are not aware of this but upon ownership of a house and lot comes with a new responsibility of paying taxes. Here in the Philippines, Real Property Taxes rates are 2% of the current value of the property which is paid once a year. Tax rates could even go as high 72% if not paid with 36 months. By availing rent to own house, you can save yourself from taxes until you fully paid the property.
An article by: Molave Home
RFO House and Lots ABCs