Leasing of housing is an innovation that every day offers more and more different companies, and even banks. People lured by low interest rates and a “fabulous” opportunity to build an apartment under the terms of the “credit” offer. But everything is so simple and beautiful?
- 1 What is leasing
- 2 Leasing for individuals
- 3 Who can use the service of leasing of housing
- 4 differs from the lease, loan and installment
- 5 the Cost of leasing in Ukraine
- 6 the Main advantages and disadvantages of lease purchase of real estate
- 7 a Brief conclusion
What is leasing
There are many different definitions of leasing, including for housing. Most often, interested sources indicate that under the lease it is understood the deal the so-called “leases”, when leasing company (lessor) acquires a certain object (in this case housing) and transmits it to the operation to the customer (lessee). In turn, the client of the leasing company begins on the obligations to a “lender-landlord” to pay the monthly payments.
It is also worth noting that some “creditors” does not even require a down payment, and the cost of processing housing take (full amount make the total cost of the room, which eventually “spread” to 1-20 years of monthly payments).
Sounds tempting, but at the same time, not so many sources reveal the negative side of the transaction. For example, not talking about the fact that housing can take in “certain” circumstances, without trial, and all the payments will remain lizingoviy. This was all in order.
Leasing for physical persons
Previously, the leasing services were actively used by the legal entity, in a time when the ordinary man in the street (natural person), not even heard about this possibility. But since the beginning of 2019 everything has begun to change, and leasing of housing was available to everyone, moreover, it has begun to actively promote.
Leasing for individuals is a long — term rental property that has all the features of a conventional loan, but with a critical difference — housing, while the tenant does not pay the entire debt, belongs to the leasing company. The lessor, upon breach of contract by the client, may, without the court “to expel” from the new housing “guests-tenants”. With a conventional loan lawsuits can take months, sometimes for years.
The leasing service is available not only for real estate but also for cars, special vehicles, at least for various equipment.
Objects of legal relations when making a lease to a natural person are:
- the lessor is a financial company or a Bank (providing this service);
- a client who decides to use leasing range;
- the seller of a particular object (real property, car, farm machinery, etc.,).
Any business transaction has a special algorithm of actions on the part of the customer and the company, the service provider. In this case, the structure is the following:
- The customer selects the item of immovable property (apartment, house). For example, if a person wants to buy an apartment in installments in the vastness of Kiev, the capital, he selects a reliable developer and make a decision on the apartment.
- The customer applies to leasing company with the aim to take advantage of their service “installment-credit-rent” housing. In turn, lizingoviy conduct interviews with the customer, collect the necessary data about it, check out their chosen accommodation.
- If the leasing creditors still agree to conclude the contract with the client, they offer him to sign the papers, “dedicate” it in all conditions and nuances, warn about possible consequences of breach of contract.
- If all documents are collected and signed, the leasing party purchases the object of the contract, it draws up all the legal standards and transmits it for use to the customer.
Important: there is the concept of “operating lease” housing. By this term we mean the classic rental properties, where the client has no right to buy the property after the expiration of the contract.
Who can use the service of leasing of housing
At most of the leasing service is for those who can’t use credit or credit. This individuals who have bad credit history or no official income. Because often, under such circumstances, the Bank may refuse to grant such a large loan.
A positive decision on leasing the voices of almost everyone, in contrast to conventional lenders. Lizingoviy, often, there is simply no case to official earnings customers, they are important to at least superficially check the creditworthiness of the customer service. Such carelessness is justified by the fact that leasing companies have nothing to lose — in the case of non-payment of contributions by the customer for 90 days (this period may vary), the lenders simply take housing.
It should be noted, that though the object of use and belongs to the “creditor-lizingovykh”, the client can still do in the room repair, and even occasionally relatives there. But it is better to agree with the leasing company.
What distinguishes a lease, loan and installment
Besides the fact that leasing is issued to almost “anybody”, there are other differences from loan and installment:
- leasing often issued commercial Finance companies, and loan and installment Bank;
- the lessor is the legal owner of the property until the “last payment” when a customer will not have nor 1 penny (the”loan” allows the client to become the owner of the property immediately, but at the same time, the housing acts as a “hostage”);
- credit and credit you can take for security interests in other assets of the client, very often, even with no down payment (lease does not provide for a pledge);
- property purchased on credit or installments may not switch to the status of “detainee” — the arrest is imposed the result of a breach of contract and may be redeemed (the lessor can simply take the object of contract without court);
- sometimes installment takes the form of leasing, when the object of the contract is the property of the developer until full payment is made.
Recallthat the property which is under arrest, can neither sell nor rent, nor give nor rewrite, nor bequeath. Seized property, if you do not redeem it in a shipping order can be selected in the client, and that will remain even without the money that was monthly pay.
Many people follow the example of those who write in online forums “will sell the apartment bought on credit, return the money to the creditor, and the black will remain.” Yes, in some cases, actually sell his new home, but not arrested and one that was bought in leasing.
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The cost of leasing in Ukraine
Regulation of interest rates on leasing from the state is not carried out, as provide such services (most often) private financial companies. They offer flats and other objects by 15-20% per annum, but this is the average.
Some lucky people can participate in partnership arrangements between lizingovykh and the developer, having received a “loan” under 0-2% per annum.
If someone thinks that buying apartments for lease will turn out according to the scheme: “I will take shelter and so pay the loan,” in a hurry to disappoint. Letting property barely covers (in rare cases) interest, not to mention the body of the loan.
As an example we give the average small apartment, the cost of 30 thousand dollars. Interest rate 17% = $5100 (or $425 per month). The average rent for a house, even renovated, does not exceed $300 per month.
The main advantages and disadvantages of lease purchase of real estate
Lease purchase possible as new housing, so there is a possibility to order a secondary property. In turn, the comparison of price between used and new houses makes it clear that the difference is not critical, as they can think of ordinary citizens.
Reliable the lessor allows you to purchase even a few apartments, despite the underlying financial asset of the client, sometimes without even checking a credit history. Bail is and it.
Bought on leasing an apartment would cost relatively cheaper because the price of lease tend to be lower — ability seems to be more available.
On the negative side, we can consider the fact that Bank credit is not immediately take the residential area or other object of the Treaty. Seized property any interested customers can back (are purchase). But in a lease agreement acquired the apartment is not yours, and when violations are automatically “flies into oblivion”.
Bank loan gives more space to the client: possible sale or transfer of property, the protection of the rights of the state. That is, the client has the opportunity to dispose of the right of ownership (not arrested the apartment).
Enlisting state support, the apartment may be, the Bank “won”, but support from the state against the leasing company “will not wait”. Moreover, the resale of movable property will make you forget about the loan, but if you evaluate the lease contract do not succeed, because the apartment is not yours.
A brief conclusion
Ukraine is developing, and the progress gets credit-the leasing system. Progress is necessary to understand the decrease in interest rates, simplified software, which can obtain the so-called “leasing installment” almost every Ukrainian no down payment.
Leasing both for companies and for individuals, there was a proposal to pay not only the cost of housing, but also the tax, expenses for repair and outfitting of the room inside, insulation, etc.
But the lease purchase of housing has a number of negative sides. If the customer has violated the rules of the contract, had not paid the loan within a certain period (e.g. 90 days), the object of the agreement without a trial and the right of redemption is taken by the leasing company. The history of the “credit losers” can be read on different forums. Their feedback addressed to individuals who decide to make a purchase in the lease.