New Brunswick renting guide

Rent-to-own and lease-to-own in New Brunswick

A rent-to-own is really two deals in one: a normal lease plus an option to buy later. While you are still renting you keep your full tenant rights, but the buying side is not specially protected, so go in with eyes open.

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How does rent-to-own work in New Brunswick, and is it safe?

For tenants

Until you actually buy, you are a tenant, and the Residential Tenancies Act protects you in full: the one-month deposit cap, the 3% rent cap, the repair duty, and the eviction process all apply. What is not protected is the buying side. Rent-to-own homes are not specially regulated in New Brunswick, so everything rides on your contract. The big risks: you can lose the extra rent credits you paid if you miss a payment or do not buy in the end, you may be stuck with the agreed price even if the home loses value, and who pays for repairs, property taxes, and insurance is whatever the contract says. Have a lawyer review it before you sign, confirm in writing whether your credits are refundable and who pays for what, do a title search so you know the seller really owns it, and check now whether you can get a mortgage later.

For landlords

The rental side of a rent-to-own is a normal tenancy, so you owe the tenant every protection under the Act, including the deposit and rent rules. The purchase option is a separate contract that the Act does not govern, and it is not specially regulated here, so put the terms in writing clearly: the price, the rent credits and whether they are refundable, and who is responsible for repairs, taxes, and insurance. Both sides should get legal advice.

The key facts

While renting: Full tenant rights apply
The purchase option: A separate contract, not the Act
Specially regulated?: No, it is a gap in NB
Biggest risk: Losing your rent credits
Before signing: Lawyer, title search, mortgage check

Common questions

Do I still have tenant rights in a rent-to-own?

Yes. Until you actually buy, you are a tenant, so the full Residential Tenancies Act applies, the deposit cap, the rent cap, repairs, and the eviction process. The buying side, though, is just a contract and is not specially regulated, so read it carefully.

What is the biggest risk with rent-to-own?

Usually losing the extra money. If you miss a payment or decide not to buy, you can lose the rent credits you built up, depending on the contract. You can also be locked into the price even if the home drops in value. Have a lawyer review it and confirm in writing whether your credits are refundable.