Why Rent + Equity?
Build equity with rent
One huge benefit of owning a home is in the long-term savings that accumulate each month. Our renters build a long-term investment as part of their monthly rent payments.
Keep options open
Buying a home means you often have to stay put for multiple years just to break even. Our renters can still build their investment while shifting to larger or smaller units in different areas.
Know your neighbors
No matter where you live, you'll be connected with your neighbors. We host monthly community meetings and countless opportunities to get to know your neighborhood.
How does Rent + Equity work?
It's similar to normal renting, but with an added community-building component that we've seen create a better experience for renters. When you rent from a Provito-managed or owned rental property, you'll be entered into our Rent + Equity program. Each month that you attend a monthly community meeting and follow the Provito rules of paying rent on time, not being a jerk, etc, then a portion of your payment will go into an equity account for you with fellow renters. The amount fluctuates based on maintenance, wear, and damage to the building, but our long-term goal is to beat a 30 year mortgage.
What am I building equity in?
Currently, everyone's equity accounts are accumulated to purchase additional rental properties, of which you'll have a portion of ownership stake. Our longer-term goal is for equity potion of your rent payment go towards both the unit you're in, as well as a wider portfolio of properties.
What happens when I leave?
After your two year vestment period, you'll be able to request a withdrawal of the account, minus transaction and liquidation fees. A large benefit of home-ownership is the long-term nature of the investment, and Provito works similarly where the best returns will happen with a long-term approach.