alaskaonline
Registered User
- Messages
- 489
I just bought my share off DCC after using the 50/50 S.O. scheme. Although the scheme was initially good - in a long run I don't recommend it. Skier and bd1 got it right. The problem with the 50% rent is as stated that DCC doesn't calculate on the market value but on the initial purchase value. I ended up paying more rent than mortgage which is why I bought the other 50% off them. I'm lucky that I have a job. I don't know how people cope without a job.
As for the rented out part - in my contract at the time it stated that I can rent it out but would have to ask for permission from DCC first. I heard of people who went down this route because they simply couldn't afford their own homes anymore and they DCC gave them no hassle. I think all they're interested in is that A) they get their monthly payments and B) the tenant/ half owner doesn't make a profit.
As for the rented out part - in my contract at the time it stated that I can rent it out but would have to ask for permission from DCC first. I heard of people who went down this route because they simply couldn't afford their own homes anymore and they DCC gave them no hassle. I think all they're interested in is that A) they get their monthly payments and B) the tenant/ half owner doesn't make a profit.