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With Requity Homes, you can choose almost any home listed for sale publicly or privately within the areas we operate. Once you’re pre-qualified and your home budget is confirmed, you’ll work with one of our partner agents or your own realtor to find a home that meets our program requirements.
Rent-to-own home requirements
To qualify for the Requity Homes rent-to-own program, the home must meet the following conditions:
Condition of home
The property must be move-in ready and habitable. Homes listed as “fixer-upper,” “sold as-is,” or “TLC required” are not eligible.
Type of home
Freehold single-family homes and townhouses are eligible for the rent-to-own program.
Home price range
Eligible homes must be priced between $150,000 and $600,000, depending on your approved budget.
Utilities and services
The property must be connected to municipal water and sewerage systems.
Age and condition of major systems
We prefer homes where key systems have been upgraded within the following timeframes:
- Furnace or main heat source: 15 years or newer
- Air conditioning: 15 years or newer
- Water heater: 10 years or newer
- Roof: 15 years or newer
Ineligible properties
Requity Homes cannot purchase:
- Rural properties
- Leasehold or modular homes
- Condominiums or cooperative housing
- Homes with known hazardous materials such as asbestos or vermiculite insulation
- Homes with structural or foundation issues
- Homes with post-tension cable or wood/post beam foundations
- Homes not connected to municipal water and sewerage
- Homes with aluminum wiring unless it has been copper pigtailed and verified by a licensed electrician
- Homes with existing leases that extend beyond the closing date
If a listing includes phrases like “as-is,” “fixer-upper,” “handyman special,” or lacks interior photos, it may not meet inspection criteria.
Tip: Use our rent-to-own affordability calculator to see how much you can afford through our program.
Areas we operate in
Requity Homes operates in four provinces: Alberta, Manitoba, Ontario, and Saskatchewan. You can purchase a home in any community within these provinces that has a population of 20,000 or more and is connected to municipal water and sewerage.
The cities listed below are examples - many other communities qualify. Click any city to browse current rent-to-own listings:
- Ontario: Thunder Bay, Sault Ste. Marie, Sudbury, North Bay, Sarnia
- Saskatchewan: Regina, Saskatoon, Martensville, Warman
- Manitoba: Brandon, Winnipeg
- Alberta: Calgary, Airdrie, Edmonton, Beaumont, Sherwood Park, Leduc, Spruce Grove, Stony Plain, St. Albert, Red Deer, Lethbridge, Grande Prairie
Not sure if your community qualifies? Contact our team to confirm.
So, what homes are eligible for Requity Homes rent-to-own program?
Simply put, eligible homes must be move-in ready, freehold single-family houses or townhomes connected to municipal services, priced between $150,000 and $600,000, and in good overall condition.
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General applicant requirements
To qualify for the Requity Homes program, applicants must meet the following criteria:
- Minimum credit score: 500
- Employment: At least one household member must be employed full-time or have another steady source of income
- Savings: Minimum 2% of the initial home price (final amount confirmed during approval)
- Financial standing: No active bankruptcy, consumer proposal, unpaid collections, or defaulted debts
Income verification requirements
Depending on your income type, we’ll ask for supporting documents to verify your ability to afford rent-to-own payments during the lease term.
Traditional employment (hourly, salaried, or commission)
- Employment letter
- Most recent pay stubs
- Notices of assessment for the last two years
- Bank statements for the past six months
Self-employed
- T1 general tax returns
- T2 corporate tax returns (if applicable)
- Notices of assessment for the last two years
- Personal and corporate bank statements for the past twelve months
Pension or disability income
- Proof that payments are expected to continue for at least three years
Alimony or child support
- Proof of consistent payments for the past six months
Minimum income requirements by city
The required household income varies based on the city and local home prices. A co-applicant can be added if they are over 18 and will live in the home.
- Sault Ste. Marie & Thunder Bay, ON – Minimum annual income of $70,000
- Sudbury, Sarnia & North Bay, ON – Minimum annual income of $80,000
- Saskatoon, Martensville, Warman & Regina, SK – Minimum annual income of $70,000
- Winnipeg, MB – Minimum annual income of $70,000
- Calgary & Airdrie, AB – Minimum annual income of $120,000
- Edmonton, Beaumont, Sherwood Park, Leduc, Spruce Grove, Stony Plain & St. Albert, AB – Minimum annual income of $90,000
- Red Deer, Lethbridge & Grande Prairie, AB – Minimum annual income of $80,000
Start your home search with Requity
Getting pre-qualified is quick and easy. Once your budget is approved, you can start working with one of our partner agents or your own realtor to find an eligible home that fits your needs and budget.
Get pre-qualified today and take the first step toward homeownership with Requity Homes.
