With the InvestRent Program, Renters Build Equity toward a New Surge Homes Residence
Buying a home for some – staring at a down payment, closing costs or just qualifying for a mortgage loan – seems an impossible dream. Nonetheless, tenants often desire and deserve the stability and financial security of homeownership.
Surge Homes has always had a keen eye on the renters’ market, understanding that the path to owning a condominium, townhome or even a single-family home doesn’t have to be insurmountable – or even difficult. As such, Surge Homes is collaborating with LSR Communities on an innovative program called InvestRent. And in the process may just be redefining the term “rent-to-own.”
As part of National Homeownership Month, which kicked off June 1 to educate Americans about the benefit of owning their home, Surge Homes reminds renters of a shorter path to their goal.
Money Does Double Duty
Through InvestRent, Houstonians who renew or sign a new lease for with an LSR apartment community, can direct 25 percent of their rent toward the purchase of a new Surge Homes residence. This incentive credit, which maxes out at $5,000, builds equity for the future homeowner, making it easier and more affordable to own a brand-new Surge Homes condo, townhome or single-family home within one of Houston’s most coveted neighborhoods.
For those already paying rent, this credit means their money is basically doing double duty. It also facilitates the ability to seamlessly move from one great home to another when the time is right, with a financial foothold already in place.
Who Can Participate
InvestRent was created for new residents, or those renewing a lease, of the more than 750 LSR apartment homes throughout Houston, including communities located in prominent areas like Memorial Villages and The Galleria.
Participation in InvestRent is easy: simply register with LSR Houston, Inc. and fulfill the terms of the lease. The equity accumulated through the program is good for up to one year after moving from an LSR community.
Other InvestRent participation details include:
- Good Standing: Residents who participate must be in good standing (rent paid on time, etc.).
- Stay the Course: If a resident moves out before the lease is up, he or she will forfeit the accumulated equity.
- New or Renewals Only: InvestRent isn’t a retroactive program and only applies to new leases or renewals.
- Window of Opportunity: InvestRent won’t be around forever and LSR Houston has the right to stop accepting new participants at any time without notice. If you want to join in, the time is now.
Your New Home
The new residences available through the InvestRent program are developed by the award-winning Surge Homes. Every home is located inside the Loop within neighborhoods like Upper Kirby, Midtown, and the Museum District. These areas are extremely popular because of their proximity to amenities such as retail, dining, entertainment, parks and greenspaces. Participants of the InvestRent program will be able to choose a residence amongst Surge Homes available inventory at the time of purchase.
Investing in a home is an exciting opportunity that, in the past, may have eluded some. Through InvestRent, apartment residents are empowered to think about their future—and put their rental expenses to good use. The program represents another way for Surge Homes to promote homeownership in Houston.
Learn more about how you can turn rent into ownership today by contacting Surge Homes.
