Developer News By Jax Lee / 6 years ago Share Tweet Pin Share Share Property developer TG Development has unveiled a new scheme that will allow buyers to rent a unit at Lloyd Sixtyfive in River Valley before deciding to purchase it. Under its Experiential Leasing Scheme, a potential buyer can sign a two-year lease and pay the rent and refundable deposit upfront to stay in a brand new unit. [bctt tweet=”Developer Attract Buyers With Leasing Scheme” username=”wma_property”] Should the client decide to purchase the unit, the developer will refund the rent and the security deposit, “less any deductions to the client after receipt of 20 percent of the purchase price”. If not, only the security deposit will be refunded. The Urban Redevelopment Authority (URA) had rejected an earlier version of the scheme, as it was “akin to giving the tenant an option of up to 20 months from the commencement of the lease to decide if he (or she) wishes to purchase the unit”. The new scheme differs from the earlier version as the rented unit is not reserved for the tenant. Understand the legal and tax issues in property investments. Click here for more details The Straits Times reported that TG Development will only release 20 one-bedroom with study and one-bedroom units under the scheme. With average prices for one-bedroom units starting from $1.62 million, or $2,760 psf, the rent for such units works out to around $6,750 per month. “During the tenancy, the clients will have ample time to plan for their finance,” said TG Development in a statement. “They could enjoy the experience of their stay without having to consider the interest of their loan as there is no loan required for the low upfront cash outlay.” —PROPERTYGURU It’s not about property ownership it’s about control! To get more details. Click here How to become a wise investor and to avoid mistakes when you invest? To find out more. Click here Own Nothing but Control Everything! This is today hottest property investing strategies that you should not miss! Click here Follow us on Twitter for more news, tips and inspiration. Become our mate on Facebook and explore our Pinterest boards. Share this:Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window) Related
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