The Landlord / Renter relationship is and has been broken. Many renters feel like second class citizens. One sided agreement / many restrictions / Rising Rents / Instability
In addition, Landlords, on average, have 40% more wealth than tenants.
Renters have “names” for various Landlord types – not complimentary:
It is not surprising that many relationships are difficult. Each year over 500,000 former homeowners are forced into a rental relationship without a path to re-acquire homeownership and its rewards.
Few would be able to immediately qualify for a new home loan because of the restrictions and requirements due to divorce, a job change, un-provable or erratic income, student loans, tax liens, even short sales, and foreclosures. Getting further and further behind.
Covesting is a second chance at stability and dignity now – without loan qualification. Approval through a third party, a resume for presentation to a potential Investor (former Landlord) and sufficient cash FROM ANY SOURCE to purchase a percentage of the future equity to be created through appreciation and loan decline.
As a Covestor, you will be responsible for the property loan payments, taxes, and expenses. There are significant tax benefits. And you will be the de-facto property manager.
You will not be alone. Covest will continue to be engaged in the relationship and act as mediator when issues arise. and they will. even with the negotiated agreement. Life happens.
The Covestor relationship is designed to last a minimum of 5-7 years. The Parties can end it or continue as provided by the Agreement.
Over time, as equity rises, you may generate enough equity and stability to qualify for a new loan for and a home of your own.