Posing for a group photo after exchanging the agreement documents are (from left) Ken, Lee, Faizal; Lim and Low.
KUALA LUMPUR: Homevest Sdn Bhd (HOMEVEST) and iBilik.com (iBilik) have signed a memorandum of understanding for a rent-to-own programme to allow tenants the chance to own a home.
Called Flexi Rent2Own, the programme is extended to the existing and future tenants of iBilik, giving them the opportunity to own a home while renting.
“We are excited about this partnership as it is able to assist more Malaysians to own a house on their own. Teaming up with iBilik will provide more opportunities for current tenants to own a home with our signature Flexi Rent2Own programme. It has always been our goal to make home ownership accessible.” said HOMEVEST group managing director Datuk KY Lim.
HOMEVEST, a property investment, management and development company, strives to unlock property values with innovative home ownership solutions for tenants and aspiring homeowners.
iBilik is Malaysia’s largest room rental listing platform which has helped more than 100,000 owners market and rent their rooms over the last 10 years.
“It has always been our company mission to redefine co-living by creating a supportive, inclusive and impactful community. Besides, we strongly promote diversity and inclusiveness through innovation as our core value,” said iBilik chief executive officer Lee Seng Hee.
Through Flexi Rent2Own, eligible tenants can convert their rental payments as a down payment to purchase the rented property under any portfolio of HOMEVEST Living, the property management arm of HOMEVEST.
HOMEVEST Living is well-known in the property rental industry for its signature programme, Flexi Rent2Own, which allows tenants to own a property at a later stage by first renting with HOMEVEST Living or its strategy partners who are promoting the programme.
The programme, launched in 2021, has seen the participation of over 6,000 Flexi Rent2Own members. HOMEVEST Living also provides other tenant solutions, apart from the Flexi Rent2Own programme. For example, tenants seeking to rent a place can take advantage of the added value services provided by HOMEVEST Living like its 3-in-1 Deal, which includes zero deposit, free mover service and free utilities (with the exception of air-conditioning usage).
“We believe there are still many aspiring home owners in Malaysia. Partnering with iBilik will benefit more tenants and aid them to own their dream home with the least investment during this challenging time. We are looking forward to extending our services to more Malaysians and to make home ownership affordable with great value.” said HOMEVEST chief executive officer Datuk Marcus Low.
The MoU signing ceremony was held during HOMEVEST’S celebration dinner at EQ Kuala Lumpur to celebrate their recent achievement for being the First Malaysia Property Company listed on 1Exchange platform, Singapore’s first regulated private securities exchange.
Also present at the ceremony were GFG Group chief executive officer Ken Lee and HOMEVEST corporate advisor Datuk Wira M Faizal Zainol.