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Manila Bulletin devider devider QC to offer rent-to-own option for Bistekville beneficiaries

QC to offer rent-to-own option for Bistekville beneficiaries

Published Jan 25, 2019 11:19 am
By Chito Chavez Quezon City Mayor Herbert Bautista has approved an ordinance providing the beneficiaries of selected Bistekville socialized housing projects in the city to officially own residences through the rent-to-own option. (MANILA BULLETIN) (MANILA BULLETIN) The new scheme will provide more options for shelter to informal settler families (ISFs) in Quezon City. Introduced by Councilor Alexis Herrera, City Ordinance 2793-2018 will implement the rent-to-own financing program only to properties that have been forfeited, donated, expropriated and other housing projects appropriate for the said program. “The rent-to-own financing concept came from the best practices we (city government) learned from other countries. This is particularly applicable to our auctioned properties,” Task Force on Socialized Housing technical staff Engr. Edgar Yap said. Bistekville is the socialized housing project of the city government under the administration of Bautista which has over 7,000 beneficiary families in 37 locations. The ordinance cited that the rental program of selected housing projects will also be an opportunity for the QC government to assess and evaluate individual beneficiaries’ capacity to pay for the housing units awarded them. QC’s Housing, Community Development and Resettlement Department (HCDRD) and Task Force on Socialized Housing and Development of Blighted Areas (TF Housing) shall formulate a rent-to-own financing scheme that will be implemented on a per project basis.
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