SEATTLE: A new rent-to-own housing business has launched with contracts already in place to provide 900 homes.
Rentplus said it had secured financial backing from private and institutional investors and is closing in on $137m of institutional funding as part of an overall plan to raise $1.18bn to $1.37bn over the next five years.
The company plans to offer housing for rent over a period of five to 20 years. At the end of the period, tenants will be given the opportunity to buy the property outright.
The Rentplus model has been created by…