I think the biggest problem is how does the landlord break lease? Because if you can be kicked out you lose all that you’ve accumulated against your will. If you can’t be evicted, you’ve forced the landlord to both keep you as a renter and keep ownership of the property until it’s paid by the renter, which isn’t necessarily realistic.
They should be able to sell the property if they need to. The person renting being part of the transaction and forced to be allowed to continue renting is only kind of a solution, because the new owners might want to live in that house, or have a say in who rents it. There’s also the issue of funds already accumulated by the landlord. Does that get deducted off the price they sell it for?
I think there’s just a few too many veriables for it to work as a solution.
dipshit@lemmy.world 1 year ago
The rent-to-own model also doesn’t work to well at least in the US because you’re essentially agreeing to a price of the house in x amount of years. After x amount of years, even if the house isn’t worth $y it will still be sold to you for $y.