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10 year Rent-to-own model by NatanelFlorens

Rent-to-own model in housing purchase is not very popular in the nation’s property market. In fact, what has come close to it is the ‘owner-occupier’ model some states governments have tried, unsuccessfully to implement. Now, NatanelFlorens, an alternative asset management company has brought to the real estate tuff a well thought-out rent-to-own system that is designed to be irresistible, reports Bennett Oghifo

Rent-to-own is hot cake because it gives a prospective tenant a rare opportunity to own a property s/he has been paying rent for over the years.

NatanelFlorens, a real estate firm that is dedicated to the rent-to-own model, is offering a 10-year rental period before the tenant translates to homeowner. It is designed as a fraud-free system, one that would also free the company and tenant from needless frictions.

Presenting the rent-to-own model and how it works, the Managing Director and Chief Executive Officer of NatanelFlorens, Mr. Olalekan Abiola said it was accepted with great enthusiasm by prospective
homeowners that within a few hours of making their offer public all the housing units in an estate they presented were gone.

Abiola stated that the nation has about 14 million housing units out of which over 12 million units are on rental, saying this implied that over 85 per cent of Nigerians are renting and that something had to be done about it.

The existing housing models in the nation’s property market, he said are not helping people to own their houses, explaining that “they are actually asking people to buy property as an investment and in turn rent it out to people. This is not solving the problem of housing and it is an aberration.”

He said talks of property appreciating within a short time were mere fallacies that needed to be redressed. “That is why NatanelFlorens landed in Nigeria to be able to help those that own properties effectively optimise the value of their investment in property. For those that want to invest in property and have, at the beginning, been spending so much money on property, we will help them re-plan and let them see how they can actually add more value to their properties.”

He said on the flip side it would enable people own homes through a flexible and authentic Rent-to-Own proposition, explaining that a tenant who pays, for instance, N2million per annum as rent could pay that amount for 10 years and become the owner of the apartment. “But if you say I should take this mortgage and pay interest monthly then that is not rent-to-own. The market needs to know the difference between these two structures. To date, we have done about three estates: Silver Lake in Lekki; Praiseville and NSU 2 in Ogudu.”

He said on the day it was publicized they received over a thousand calls and that by the evening of that day all the housing units were completely sold out.

Abiola said the response was a pointer to the fact that the market was yearning for exploration.

Though it was a pleasant surprise, but Abiola said it was expected, describing NatanelFlorens Limited as, “The premier alternative asset investment company with a focus on real estate. “Its focus is to transform the Africa property landscape with innovative and affordable solutions.

“Our mission is to commodise property investment; turning it into highly liquid instruments.”

The company, he said offers “high yielding investment options to private clients in the real estate and private equity space.” It owns the Private Property Investors Trust (PPIT) Franchise in Africa and that with it “offers a high yield, additional return of 80 per cent on property investment over 5 years. This is in addition to whatever is the current yield on your current property investment portfolio.”

The company’s service spectrum covers; alternative investment advisory; specialised funds and financial services and customized business services.

According to him, NatanelFlorens would address the lack of supply/market demand for affordable housing, stating that they have started to identify existing property or land owners who would pledge their property title deeds to a Trust created and managed by Union and UBA Trustees.

PPIT™, he said is a risk-free, wealth creation, property equity/property development scheme franchised by Bishopstrade of Mauritius to NataneFlorens Limited. “This franchise allows property owners to invest and optimise returns by participating in the growing property market across Africa, with or without investing cash.”

He said Bishopstrade has substantial private and institutional financing in place ready for property investment and management companies operating in Africa.

He said, “The vehicle is the proven ‘Private Property Investors Trust’ (PPIT™) established and with similar operations across USA and other countries.

Abiola said, “Owners continue to receive their current income, but the Trust will pool and collaterise the property or land deeds to secure funding through Bishopstrade and benefits from the Trust profit generated.

“The trust, the, acting under recommendation from NatanelFlorens, contracts and pays for suitable land acquisition; design, specifications, and budget preparation: and then with turnkey developers, build and manage the properties.”

Giving PPIT™ Advantages, he said, as a franchise, it was a tested model. “The underlining methodology of using Trust Deed to unlock equity value for housing acquisition is fully operational in over 21 states in the United States of America and the concept of paying rent to own a house is also a tested concept.”

He said five years of technical support from Bishopstrade would ensure smooth implementation of the franchise, particularly as regard development to fit into existing rental rates. “It is almost zero risk, safe and protects property owners (investors) through the use of Trustees. Properties legal documents, even though transferred to the pool, are in safe custody of the Trustees. Low entry cost and very high returns of 80 per cent over five years.”

Abiola said the NatanelFlorens’ team is responsible for the marketing of the properties to tenants, “who will benefit from the Rent-to-Own financing scheme whereby after 10 years payment, the property deeds vest to the tenant without needing capital or upfront payments. All tenant payments are made to the Trust Escrow account which then reimburses Bishopstrade.”

Source: ThisDayLive

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