Oakland, California (EastBayDaily) — The foreclosure crisis has caused a great deal of uncertainty about the future of homeownership. As individuals and families are displaced from their houses, Bay Area-based Waypoint Homes is offering a new home rental program designed to help potential homeowners rebuild credit and save for a future home purchase. The new program, called “Lease Plus Rewards,” incentivizes residents to take care of their homes and pay rent on time. By the end of a 2-year lease, successful residents will have accumulated a credit toward a down payment on a home.
Doug Brien, Managing Partner of Waypoint Homes and a former place kicker for the San Francisco 49ers, believes that the new program will infuse communities with the same sense of pride and enthusiasm that comes from being a homeowner. “The problem with the traditional rental model is that residents are less likely to feel invested in their communities,” says Brien. “Our approach bridges the disconnect between renting and owning. Residents in our 700 homes throughout the Bay Area and Southern California are building value that they can use to buy a home, which helps revitalize California neighborhoods.”
Brien is quick to point out that the Lease Plus Rewards program isn’t the same as a lease-to-own program. “Our residents have options,” says Brien. “The value accumulated over the course of the lease can be used toward any home in a Waypoint market. We even offer a cash back option for those who decide they still aren’t ready to purchase a home.”
The program also includes a free financial fitness plan designed to help residents improve their credit scores, a big factor in home loan qualification. “We have dedicated Financial Fitness Instructors who hold seminars and one-on-one consultations to help residents stay on track,” says Brien. “We also set goals for ourselves and our residents, like our 650 Club, which strives to help residents achieve a 650 credit rating or higher. We provide as much support as we can, because we know the traditional American Dream is still within reach.”
About Waypoint Homes Waypoint Homes is a division of Waypoint Real Estate Group, founded by Colin Wiel and Doug Brien as Wiel Brien in 2008. Their partnership was a synergistic blend of two passions: technology and value-added real estate. Through their leadership, the company has developed into a next generation real estate company that is providing an innovative and effective solution to the current US housing crisis.