Requity Homes

About Requity Homes

Requity Homes is a startup that aims to make homeownership more accessible through a unique "rent-to-own" model. The company operates in various Canadian markets, including Edmonton, Saskatoon, Regina, Winnipeg, and several cities in Ontario and Saskatchewan. Requity Homes primarily serves individuals and families who face challenges in securing traditional mortgages due to insufficient credit history or lack of a down payment.

The business model is straightforward: clients rent a home from Requity Homes while simultaneously working towards building their credit and saving for a down payment. During the rental period, a portion of the rent goes towards the future down payment. Clients have the option to purchase the home at a guaranteed price after a set period, typically ranging from one to three years. This model provides a pathway to homeownership for those who might otherwise be excluded from the housing market.

Requity Homes makes money through rental income and the eventual sale of the homes. The company also benefits from any appreciation in the property's value over the rental period. By offering a guaranteed purchase price, Requity Homes mitigates the risk for clients, making the prospect of homeownership less daunting.

The startup targets a niche market of potential homeowners who are underserved by traditional financial institutions. This includes newcomers to Canada, individuals recovering from financial setbacks, and those with limited credit history. By addressing these specific needs, Requity Homes fills a significant gap in the housing market.

In summary, Requity Homes offers a practical solution for aspiring homeowners who need an alternative route to buying a house. The company's innovative rent-to-own model helps clients build credit and save for a down payment, making the dream of homeownership achievable.