Being stuck on the renting treadmill is a frustrating experience, we understand that. Maybe you want to buy a home but you don’t qualify for a mortgage or you just don’t have the down payment amount. What’s even more frustrating? The longer it takes you to save a downpayment the more expensive houses seem to become. With Key’s co-equity model, homeownership is made accessible to more people–years sooner!

A Quick Refresher, What is Key’s Co-ownership model?

Key’s co-ownership model provides the benefits of owning with the freedoms of renting, like providing homeownership for a lower entry point than the traditional route. With Key, the minimum initial down payment required is 2.5% of the value of your suite, depending on the suite, this is typically $15k.

With this model the more you own, the less your monthly payment will be. From the beginning, you’re building equity, $50 of your monthly payment goes towards your home equity, and you can contribute more at any time. Key allows consumers to own up to 90% of their suite. Try our calculator to see how the math works out

The other benefit to Key’s model? No mortgage needed. The model affords the benefits of both buying and renting, therefore being the perfect model by getting the best of both worlds. Here are three ways Key’s co-equity model compares to renting: 

Stability, A Home To Really Call Your Own:

Key’s co-equity model allows the consumer to co-own the space they’re living in. Rather than signing a rental agreement and fearing raising rent prices, or the dreaded 60-day notice that you need to move out, as a co-owner you have the security of tenancy. Plus with a Key suite, you can think like an owner because you are one, that feeling of home is felt because consumers can actually own part of their suite without breaking their bank accounts.  

Building Home Equity That Suits You:

Building home equity with Key is the most essential part of our model as it allows consumers to be co-owners of their own suite. In traditional rental models, the tenant would just pay a monthly lump sum of money to the landlord and then would continue until the contract period ends. There is no room for equity building, renting only allows tenants to pay a monthly sum and pay off someone else’s mortgage, without getting anything in return. With the Key model, consumers can see track their home equity growth, access their home equity, and can benefit from the appreciation if and when they decide to later sell their suite.

You can lower your monthly payment 

With renting, your rent will only ever increase, not decrease. With Key, you’re able to lower your monthly payments by contributing more to your home equity.

Our hybrid model allows consumers to benefit from both worlds of buying and renting! If you have more questions about Key and our co-ownership model, learn how it works and visit our FAQ page for answers to common questions.