SO HOW DOES THAT WORK?
Rent an apartment at a Bosa or BlueSky Properties rental building, and each month
15% of your rent is placed in a BosaEQUITY™ Credit Account. This credit
can be put towards a downpayment in a future Bosa or BlueSky Properties new
home purchase, to a maximum of 3% of the value of the home.
SHOW ME THE MATH, PLEASE
Let’s say your rent is $1,600 a month. Of that, $240 can go toward the purchase of a
new Bosa or BlueSky home. After 24 months you’ve got $5,760 in that account. Nice!
Keep going; we’ll credit you up to a maximum of 3% of the new home’s price. So if
you’ve got your eye on a home that’s $300,000, the maximum BosaEQUITY™ credit
you can use is $9,000. And that would take you just about 3 years to save if your
rent is $1,600.
IS IT A BANK ACCOUNT?
No. It’s just an accounting of the rent you’ve paid, kind of like a loyalty program that
tracks what you spend with us. In some ways it’s better than a bank account,
because you can’t use it to splurge on a vacation or new bike.
AND WHEN I’M READY TO BUY MY OWN PLACE?
When your tenancy is over, you’ll receive a BosaEQUITY™ statement that shows the
total savings available if you want to purchase a new Bosa or BlueSky Properties
home. You have 24 months to use that credit.
WHY WOULD WE DO THIS FOR TENANTS?
Because buying a home is a significant investment. We understand that it’s hard to
save up and still enjoy life, so we want to lend you a hand.