Even though the housing boom during the pandemic has subsided, Canadian real

estate prices are still higher than they were prior to COVID-19. Due to the current

situation, households are looking for any way to fulfill their desire of becoming

homeowners. Rent-to-own is a lease agreement where a tenant rents a home for a

specific period, with the option to buy it at the end. A portion of the monthly rent is used

for the down payment, and the tenant can then purchase the property through a

mortgage after accumulating the down payment through rental payments. Families who

have been waiting for years can benefit from homeownership through rent-free living.

They can move into a desired home and use rent for a future down payment.

Additionally, they can lock in a purchase price and potentially benefit from the property's

appreciation after the lease period ends.

https://blog.remax.ca/a-guide-to-rent-to-own-homes/