A new decalogue has been published for a more correct application of rent to buy

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The latest news on the subject of rentals comes from the National Council of Notaries with the publication of a contractual scheme and a decalogue for the correct application of a formula such as that of rent to buy: first rent and then buy a house. This formula, in fact, is still not very widespread in the country despite the countless advantages it can bring in terms of buying your own home for rent over time.

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Are you considering turning your rental into a future home purchase? Discover the latest news and the advantages of an important solution such as the one provided by rent to buy.

What are the advantages of the rent to buy formula?

The rent to buy is a formula based on the combination of rent with a future sale and provides the possibility for the potential buyer to use the property with the only payment of a periodic fee (in the form of rent) and then move on to a subsequent one. purchase on a predetermined date. The advantages as we can immediately see are given by a breakdown of the cost of the house over time, with the possibility for the potential buyer to pay and enjoy the property with the initial payment of the rent, and subsequently to move on to the actual purchase. to be implemented with the payment of the remaining amount from which to subtract the previous fees.

However, this formula is still little used by Italians, first of all due to a little knowledge of the existence of a practice such as rent to buy, but also for some practical aspects on the matter. Suffice it to say that before the recent Slocan Italia decree, there was no specific legislation in the sector and the transcription of this contract in the real estate registers. Conversely, to date, with the approval of the aforementioned decree, it will be possible to register a contract stipulated with the rent to buy formula in proportion to its duration, as long as it does not exceed a period of ten years.

The interventions of the National Council of Notaries on the rent to buy formula

Following an initial intervention by the decree unblocking Italy on greater regulation of the rent to buy formula, an important intervention by the National Council of Notaries followed, which included in its portal "a hypothesis of a contractual "and a" handbook on 10 things to know about rent to buy ".

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As regards the first point "on the hypothesis of a contractual scheme", reference is made to a model to regulate all the modalities of the case between the parties, with greater attention to the granting of enjoyment, the obligations of the parties, the conditions and guarantees, taxation and the assignment of the contract. While with respect to the second point, the most important information has been included to be known for a correct application of the rent to buy formula.

Also keep an eye on the ten things to know about notarial rent to buy

The decalogue on the 10 things to know about rent to buy certainly represents a very important aspect highlighted by the National Council of Notaries to help Italians understand and use more an alternative formula to a more classic mortgage. For example, a practical example is included on the functioning of the rent to buy applied to the sale of a 100,000-euro property, as well as useful information on the advantages and risks for those who sell, the goods that may be the subject of the stipulation of the aforementioned contract, the protections provided for the tenant and taxes due by the parties and a convenience to the application of the aforementioned formula over time.

For further information and to consult the decalogue of rent to buy and the hypothesis of a contractual scheme, it is possible to consult the portal of the National Council of Notaries, at the following address.

Conclusions:

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• The rent to buy represents a formula that allows the cost of the house to be divided over time, starting from an initial payment of a periodic rent to a possible subsequent purchase of the same.
• The Slocan Italia Decree intervened in this sector with the definition of a specific legislation that envisages, compared to the past, the possibility of transcribing the aforementioned contract in the real estate registers.
• The "National Council of Notaries", on the other hand, intervened with the publication on its portal of useful information for a greater and correct use between the parts of the formula based on a first rent and a subsequent purchase.
• A hypothesis of a contractual scheme is available on the Notary's portal, to regulate all the modalities of the case between the parties as in the case of the concession of the enjoyment and the obligations envisaged.
• Finally, the parties can also access a very useful handbook on the ten things to know about rent to buy, such as the advantages and risks for those who sell, the protections provided for the tenant and a practical example on a 100,000-euro property.
• Conversely, if your interest is on a more classic way of renting the property, it might be useful to know the latest news in the sector such as the new obligations on the registration of leases

·       Source: https://businessworld.com.pk/