Question 1

What is R2O.ca?

Accepted Answer

R2O.ca is a rent-to-own platform for brand-new condos in Ontario. You move into a builder's completed unit now, and part of every monthly payment is credited toward your down payment so you can buy the same unit later.

Question 2

Is this a loan or a mortgage?

Accepted Answer

No. During the rent-to-own term you are a tenant with an option to purchase. You apply for your own mortgage only when you're ready to buy, typically within 1 to 5 years.

Question 3

Who is R2O for?

Accepted Answer

People with steady income who aren't mortgage-ready yet — for example newcomers to Canada, self-employed buyers, people rebuilding credit, or anyone still saving for a down payment.

Question 4

How does rent-to-own work at R2O?

Accepted Answer

Apply, pick a condo from our listings, move in, and pay monthly rent. A share of each payment is tracked as ownership credit in your portal. When you qualify for a mortgage, you buy at the purchase price set on day one.

Question 5

How much will the rent be?

Accepted Answer

Monthly payments are close to market rent for a comparable new unit. Each listing shows the monthly payment, the estimated monthly ownership credit, and the locked purchase price.

Question 6

How do I qualify?

Accepted Answer

You need a credit score of 500 or above, subject to full review and approval by our underwriting team. Beyond the score we look at stable household income, a reasonable debt load, rental history and a realistic path to mortgage approval within the term.

Question 7

What documents will I need?

Accepted Answer

Typically government ID, recent pay stubs or an employment letter, the last two years of tax assessments (NOAs), and bank statements. Self-employed applicants may also provide business financials.

Question 8

How much does it cost to join?

Accepted Answer

Applying is free. When you're approved for a unit, an option deposit (typically 2–3% of the purchase price) secures your right to buy and counts toward your purchase.

Question 9

What happens after I apply?

Accepted Answer

Our team reviews your application, follows up for documents, and shows you units that fit your budget. Once approved, you sign the lease and option agreement and book your move-in.

Question 10

Is a down payment required?

Accepted Answer

Not a traditional one. The option deposit plus the ownership credit you build each month together form your down payment at purchase.

Question 11

Which condos are eligible?

Accepted Answer

Brand-new, move-in-ready units from partner builders across the Greater Toronto Area, shown on our Listings page. Every unit is inspected before it's offered.

Question 12

Do I need a real estate agent?

Accepted Answer

No, but you're welcome to bring one. Our team guides you through choosing a unit, the agreements and the final purchase.

Question 13

Is the purchase price really locked?

Accepted Answer

Yes. The purchase price is written into your option agreement before you move in, so there are no bidding wars and no surprises when you buy.

Question 14

Who handles maintenance and repairs?

Accepted Answer

New units come with the builder's warranty (Tarion in Ontario). Day-to-day upkeep inside the unit is the resident's responsibility, like a typical tenancy; building systems are covered by the condo corporation.

Question 15

Who pays utilities, condo fees and insurance?

Accepted Answer

Condo fees and property taxes are built into your monthly payment. You arrange tenant insurance and pay utilities that are metered to your unit.

Question 16

Can I see my progress?

Accepted Answer

Yes. Your portal shows every payment, your ownership credit to date and how close you are to your down-payment target.

Question 17

How do I buy the condo?

Accepted Answer

When you're mortgage-ready, tell us. Your ownership credit and option deposit are applied to the locked price, you secure a mortgage for the balance, and the unit closes in your name.

Question 18

Can I buy before the term ends?

Accepted Answer

Yes. You can exercise your option early as soon as you qualify for a mortgage.

Question 19

What if I decide not to buy?

Accepted Answer

You can walk away at the end of the term. How your credit and deposit are handled is set out clearly in your option agreement before you sign, so you know the outcome upfront.

Question 20

Who pays closing costs?

Accepted Answer

As the buyer you pay standard closing costs such as land transfer tax and legal fees at purchase. First-time buyer rebates may apply.

Question 21

How does R2O help builders?

Accepted Answer

We turn completed, unsold inventory into occupied units with committed future buyers, giving you steady monthly cash flow instead of carrying costs on empty suites.

Question 22

What kind of inventory do you take?

Accepted Answer

Completed or near-completion condo units in the GTA and across Ontario, from single suites to bulk allocations.

Question 23

Who screens the residents?

Accepted Answer

R2O handles applications, underwriting, leasing and ongoing resident support, and reports occupancy and payment status to you in the owner portal.

Question 24

How is the purchase price set?

Accepted Answer

We agree the price with you upfront and lock it into each resident's option agreement, so you know your exit value from day one.

Question 25

How do I get started?

Accepted Answer

Contact us through the For builders page with your available units. We'll review the inventory and propose a program structure.

Frequently asked questions

Getting started

Application

Choosing a condo

Living in your condo

Buying your condo

Still have questions?