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The best way to buy property.

No Interest Rate. No Credit Check. No Mortgage.

BuyByRent is an on-line real estate platform that matches buyers with sellers and enables properties to be bought and sold by simple rental payments over an extended period.


As the platform connects the buyer and seller directly, it streamlines the process and eliminates the cost of the middleman and the husttel conventional financing.


Buyers

The big problem facing people who want to buy a home is getting affordable financing, usually in the form of a conventional mortgage. The first part of this problem is to get a mortgage at all. But even if you got it, although the headline rates look attractive, over a 25- or 30-year period the interest rates are in fact expensive and buying a property eventually becomes a bad deal.

So the first and the bigger problem is for people who can’t get a mortgage, or who just can’t pull together enough money for the initial deposit. And of course, for people who don’t have a good credit record, or simply don’t have a bank account, the problems have historically been insurmountable. In effect, these disadvantaged people are blocked from ever owning a home.


Now, there is a solution:  BuyByRent.

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Simply put, Buy-by-Rent enables people who are locked out of the property market by being unable to get conventional financing to jump onto the housing ladder and buy their own home.

Using the Buy-by-Rent on-line platform, the buyer can agree a rental deal with the property owner which, on completion of the term (usually 15 years),  leads to the transfer of ownership of the property to the renter. The Buy-by-Rent contract is legally binding, so, as long as the rental payments are made, the buyer has a safe, steady and affordable path to owning a home.

The buyer gets to move into the property immediately, and has the option of improving the property, knowing that he/she will ultimately achieve full ownership.

Obviously, the rental fee is more than the normal  market rate for the property, but that is because it covers the premium paid to the seller for agreeing to release ownership of the property. But because the Buy-by-Rent platform does not involve external financing (mortgages and loans for deposits), it is a more economical way to buy a property. Also because Buy-by-Rent’s smart technology automates the buying process, there are no unnecessary costs added in by middlemen or “advisors”.

Examples of typical Buy-by-Rent payment schedules are shown  (here). These examples can be used as templates for the buyer and seller to agree what is a fair and reasonable deal for both sides: affordable for the buyer; fair return for the seller. And for both sides, a more attractive deal than with a conventional real estate transaction.

Sellers

Most of the time buyers do not have financing in place to do an immediate deal. The biggest problem facing sellers is finding a buyer who can move quickly on a purchase decision, so owners can get their property off the market for a decent return, instead of leaving it to lie vacant, generating zero income, for months or even years.

BuyByRent solves this problem for Sellers who are willing to take their return in a steady, safe income stream over a number of years, and still achieve the premium they wanted for their property.

Simply put, with BuyByRent the Buyer pays monthly rent at an agreed premium to market rates for a long-term tenancy (typically 15 years, but subject to agreement between Buyer and Seller). At the end of the tenancy period, when the Buyer has completed all the rental payments, the ownership of the property is transferred from Seller to Buyer.

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There are five  benefits to the Seller:

First, when the BuyByRent term is completed, the Seller will have achieved a significant premium for the sale of the property (typically 50% above the market value when the rental period commenced).

Second, BuyByRent starts to generate an immediate income stream, with a built-in premium, for the property owner.

Third,  BuyByRent enables potential Buyers to engage in transactions without needing to access mortgages or raise deposits. Obviously, this creates a whole new group of eager Buyers and dramatically increases the chances of the property owner closing a deal.

Fourth, the property owner knows that the tenant is renting to buy, so is likely to maintain the property in top condition, and maybe even invest in enhancing it.

Fifth, in the event that the renter fails to meet the monthly rental payments, and defaults on the agreement, the tenancy ends, the property is unencumbered and can go back on the market, and in the meantime the property owner has enjoyed premium rent at a significant premium to the market rate.

Essentially, BuyByRent offers the Buyer vendor-financing from the Seller, with the Seller achieving a healthy profit (in the form of the premium rent), which in traditional real estate is taken by the mortgage provider and by broking fees to the middlemen. For the Buyer, BuyByRent offers a better deal than a conventional mortgage, and a way to buy property when no mortgage is available.

Examples of typical BuyByRent payment schedules are shown  (here). These examples can be used as templates for the Buyer and Seller to agree what is a fair and reasonable deal for both sides: affordable for the buyer; fair return for the Seller. And for both sides, a more attractive deal than with a conventional real estate transaction.

How does it work?

Direct Peer-to-Peer Transactions; Blockchain-Secured, KYC-verified.

1.    Buyers and Sellers register on the BuyByRent trading platform (click here to begin). The on-line registration process is simple and straightforward, but includes an automated KYC procedure in real time to verify the ID and conduct a thorough background check on each party. This is an essential part of ensuring that all BuyByRent transactions are legitimate deals between reputable parties.

2.    Once registered on the platform, the Seller provides a full, validated description of the property  and specifies the rental amount and rental term to achieve the desired final sale price.

3.    Once registered on the platform, the Buyer inputs the rental amount and term he/she is prepared to commit to, and then selects additional filters (location, size, age of property) to search the BuyByRent property portfolio.

4.    The platform connects Buyers with Sellers when there is a “near fit” on rental amount and rental term, and when the other filters also show a good match.

5.    When the Buyer is satisfied with the online due diligence and the Seller is satisfied with the exact rental amount and term offered by the Buyer, the deal is confirmed by both parties.

6.    The Buyer receives from the Seller a binding contract for a BuyByRent agreement whereby on completion of the rental term (rents having been fully paid up), the ownership of the property passes from Seller to Buyer. The Seller receives a matching rental agreement for the specified term. This transaction is verified and recorded with blockchain, as is the binding contracts between the two parties.

7.    Once the deal is agreed, the property ownership documents are held securely in escrow  by BuybyRent.

8.    On completion of the rental term, with all rental due paid up, the property documents are transferred to the new owner, and the transaction is completed (and recorded on blockchain).

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Our Fees
BuyByRent’s fees are modest compared to conventional models for buying and selling real estate, because of the efficiencies of our automated platform. We are able to pass on to our customers significant savings by using new systems instead of legacy systems, smart technology instead of human interfaces, and online transactions instead of manual processing.

In line with our corporate ethos of simplicity, transparency and efficiency, our fee structure is also simple, clear, and inexpensive compared to market norms.

On successful completion of a BuyByRent agreement, the Seller pays a commission of 0.5 month’s of the agreed rent, and 0.5 month’s rent for each successive year the agreement remains in force until completion of the term.

On successful completion of a Buy-by-Rent agreement, the Buyer pays a commission of 0.5 month’s of the agreed rent, and 0.5 month’s rent for each successive year the agreement remains in force until completion of the term.

Blockchain-Secured, KYC-verified

The BuyByRent online trading platform utilises blockchain to ensure security and accuracy for all transactions on the platforms.  And, well before the transaction stage is reached, the identities of buyer and seller have been verified and approved by a rigorous on-line KYC system  (see more on KYC.org ), so that both sides know they are entering into a legitimate deal with a legitimate counter-party.

Thus, rental funds are transferred safely, securely, transparently. Property ownership is held in secure escrow for the term of the agreement. At the end of term, ownership is transferred cleanly, securely, transparently on blockchain-enabled platforms. All other relevant documentation is stored digitally, systematically and securely.

The interests of both buyer and seller are protected at every stage of the process by BuyByRent’s streamlined systems and advanced technology, reinforced by rigorous KYC upfront and robust blockchain throughout.


Online Processes – Reduced Costs

In developing its online platform, BuyByRent set itself the objective of replacing outdated legacy systems and error-prone human interfaces with advanced technology and smarter systems. The benefits of this single-minded focus on digitalising and streamlining the process are three-fold: higher security; greater user-friendliness; and lower transaction costs.
By cutting out the middlemen and automating inefficient manual processes, BuyByRent is able to pass the benefits on to the customer, and deliver its portfolio of superior Real Estate  products at significantly lower fees.


Direct Peer-to-Peer Transactions

BuyByRent’s trading platform enables direct, peer-to-peer transactions between Buyer and Seller. Funds are not held at any point by BuybyRent, nor are shares or title deeds held in trust by us. We are simply the provider of a safe, secure, transparent platform that facilitates the trading of Real Estate between legitimate, verified Buyers and Sellers.


There are no ambiguities or “grey areas” in our transaction process. Funds are transferred, securely, transparently, traceably from the Buyer to the Seller. Ownership, fractional ownership, equity or shares are transferred securely, transparently, traceably from the Seller to the Buyer.
BuyByRent provides the trading platform and escrow facility which enables the deal and ensures that the transaction is safe, secure, transparent and between two legitimate parties. It is not part of the deal itself.