NatanelFlorens, a private equity firm that owns Private Property Investors Trust (PPIT) franchise in Africa, is offering the Nigerian public a rent-to-own model of buying property that aims to stabilize price of accommodation in the country.
According to Mr. Yinka Daramola, the executive director, Business Services, Natanel Florens offer high yielding investment options to private clients in the real estate and private equity space with 80 per cent on property investment spanning over five years.
Daramola said under the scheme, the company markets the properties to tenants, and subscribers benefit from the financing scheme whereby after 10 years payment, the property deeds vest to the tenant without needing capital or upfront payments.
“All the tenants payments are made to the trust escrow account which then reimburses Bishopstrade. The underlining methodology of using trusts deed to unlock equity value for housing acquisition is fully operational in over 21 states in United States of America and the concept of paying rent to own a house is also a tested concept.”
Daramola stated that NatanelFlorens aim to reach out to numerous Nigerians who are yet to click in the home market but are desirous of having their own homes even with their mega income. The company unveiled the services in the Lagos last week.
He said the scheme allows clients to lease to own a house, which is bought and paid for by investors and partners while trying to transform the Africa property landscape with innovative and affordable solutions as well as serve property owners who want to increase yield through its investment products.