US landlords help tenants buy their properties
Renters are managing soaring rents by opting to buy the homes they stay in, with help from large rental firms such as Blackstone and American Homes 4 Rent
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Washington
MELISSA Suniga and her mother had been renting a three-bedroom Phoenix house for less than a year when their landlord, Blackstone Group's Invitation Homes, gave them the chance to buy it.
Ms Suniga, a 40-year-old childcare worker, used her security deposit and US$2,000 she'd saved from her income-tax refund, along with a county grant and a credit from Invitation Homes that together provided her with US$10,600 more for her down payment and closing costs. She expects to complete her purchase of the US$150,000 house this week."When I started renting, I thought, 'I wish I could buy this home,' " Ms Suniga said in an interview.
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