Consumer Advocate

Have you ever heard of Neil Jenman? He is an advocate for consumers, mainly in the traditional real estate marketplace, but he has also spoken out against Rent to Buy before. His voice is strong when it comes to Rent to Buy and we understand why.

We actually agree with Neil that there are many unethical investors out there in the Rent to Buy marketplace.

One of our reasons for being here is to be an advocate for everyday Australians who find themselves trapped in a Rent to Buy deal going wrong with an investor. We want to make a stand in this industry and stop these shonky, unfair and greedy practices from taking place. No longer can a position of indifference be held nor that of turning a blind eye to the injustices that happen to innocent and trusting Australian families in the real estate world - both  in the traditional marketplace as well as the Rent to Buy marketplace.

We also want to teach consumers how to safely enter into their own Rent to Buy deal, with, or without, an investor, fully protected by obtaining their own independent legal advice and documenting all terms agreed upon into the contract.

We have helped many Rent to Buy purchasers over the years who did not know what to do as their Rent to Buy deal with an investor was going sour. They had a lot to lose but did not know how to save themselves.

The Rent to Buy world has been tainted in the past from investors ("cowboys") setting up poorly constructed deals with Rent to Buy purchasers, and then certain events have happened and the wheels have fallen off the deal. The media has than gotten hold of these scandals, and then all people who practice Rent to Buy type deals have been stuck with the same label as these "cowboys".

These "cowboy" investors set Rent to Buy deals up to benefit themselves. Many real estate agents operate the same way in traditional real estate. They are in this for the money. They have attended expensive seminars and have been trained in such a way to take advantage of innocent people and families desperate to enter into home ownership for their own gain. Many of these "victims" are taken for a ride. This is such a shame. When implemented correctly, Rent to Buy deals are such a win for the seller and the renter come buyer.

The guru’s who hold these seminars to teach people how to become Rent to Buy investors do so at an enormous cost of thousands and thousands per head for a weekend seminar. Neil Jenman calls these seminar guru’s “get-rich-quick spruikers” and he is quite right, as this is what they teach their captive audience will happen to them if they take action on what is being taught. While some of these students make money honestly, many go out with the intention of being predators to families who really should not enter into such a deal.

One of the problems is that no where near enough information is supplied at these seminars to fully equip these new "investors" to implement a deal properly and well. Also, because the Rent to Buy technique is not traditional, it often takes far longer than a one weekend seminar to get your head around the ideas being presented. Which is why it is always best to never enter into a deal with a Rent to Buy investor – unless of course they are not making a profit out of you!

Rent to Buy purchasers need to be forewarned, armed and ready if they are choosing to enter into a deal with an investor. The purchaser needs to know exactly how to qualify the investor and keep him on his toes so that the deal is constructed fairly, with both sides receiving their own independent legal advice. The best scenario to entering into your own Rent to Buy deal would be to not use an investor at all, but to set your own deal up directly with the seller.

At We Buy Homes.com.au, our aim here is to teach everyday families caught in the rental trap how to find, set up and put themselves safely into a Rent to Buy deal dealing directly with the seller – with no investors or real estate agents involved. This way, a very fair deal can be entered into, with both sides receiving their own independent legal advice as well as having all terms agreed upon entered into the contract.

The property is bought at the price that the seller is needing or hoping to get, there are no real estate commissions to pay and no investor mark ups. The buyer purchases the property at fair market price.

The buyer receives flexible terms from the seller, allowing him/her to enter into home ownership when his/her circumstances may not allow the buyer to obtain bank finance just yet.

We are not like the other Rent to Buy companies out there. We do not want to spoil the Rent to Buy market place. We see this market place as one that holds much opportunity and many answers that traditional real estate cannot bring for sellers, buyers and renters. Rent to Buy transactions actually give people stuck in the rental trap a way out and into home ownership – a way to gain an asset for their family. A place to live in that they can call their own. We are for the consumer – the seller, the buyer and the renter. We want the best for all involved.

Like Neil Jenman, we feel the same way about many Rent to Buy investors as we do about many real estate agents. Many are in the industry for the money and are prepared to practice unethically to get that money. Much reform needs to be implemented in the real estate market place – both in the traditional real estate arena as well as the Rent to Buy arena.

We want to encourage and bring good change into the Rent to Buy marketplace, change that is ethical and good. In a Rent to Buy deal – the most important point to note is that both sides entering into the deal MUST obtain independent legal advice before signing anything! All terms agreed upon must be documented into the contract before it is signed. It is too late to add changes afterward.

If you are caught in a Rent to Buy deal that is turning sour, or the conditions are extremely unfair and one sided towards the investor – please contact us so we can help.