When you become a Rent to Buy tenant you sign a Tenancy Agreement which is your contract with Torus. The Tenancy Agreement is a legally binding document therefore it is important that you read and understand this before signing.
The Tenancy Agreement we use for Rent to Buy is an Assured Shorthold Tenancy Agreement which is different to the Tenancy Agreement that Torus use for our affordable and social rent homes.
An example of Torus’ Rent to Buy Tenancy Agreement can be found here.
By signing the Tenancy Agreement, you are legally bound by its terms and are committing to a minimum 12-month fixed term contract in accordance with the tenancy terms. Once the fixed term period ends, if you pay your rent and meet the terms of your Tenancy Agreement your tenancy will continue as a Statutory Periodic tenancy.
You are not committing to buy the property and we are not committing to sell.

A Rent to Buy Tenancy Agreement will be for an initial fixed term period of 12 months.
Please note, this is only an initial term, tenants are able to occupy a Rent to Buy home for up to 5 years if they maintain the terms of their Tenancy Agreement and Torus has not advised them otherwise.

Yes, before you get your keys you will need to pay a deposit of 1 month’s rent and up to 6 weeks rent in advance, at least 2 working days before your tenancy start date.
The deposit will be held with the DPS (Deposit Protection Scheme) and you will receive a deposit certificate along with the relevant Prescribed Information Form.

You’re expected to pay your rent on the 1st of every month via Direct Debit.
The rent amount is detailed in the Tenancy Agreement.
If you don’t keep up rent payments, then you may lose your home. Remember, if you’re struggling to make rent payments, let us know. 

The rent is calculated at 80% of the market rent for your property. This rent figure includes any service charges.
Your rent will increase annually from the 1st of April in line with the Consumer Price Index (CPI) +1%. The Consumer Price Index is set in September the year before the rent increase is applied in April.

As a Rent to Buy customer you are expected to look after your home in line with the terms of your tenancy.  You can report repairs to us through the Torus website, customer portal or by telephone. We also provide an Out of Hours emergency service for repairs when our offices are closed.

Any damage caused to the property or to any shared areas by your household or your visitors will be recharged at the time or deducted from your deposit in accordance with Deposit Protection Scheme conditions.

The Home User Guide will be provided when moving into a property and will include how to report repairs and provide information on any warranties.

You cannot make any changes to the tenancy. If a joint tenant leaves, the tenancy ends for both tenants. An application for sole tenancy would require a new application to be made and assessed for affordability.

Prior consent is required in a rent to buy property to keep a pet. Please note that some rent to buy properties may not allow pets and these are usually apartment blocks with communal entrances and corridors.  This will usually be noted on the property advert and will be stipulated in the tenancy agreement.

Furniture is not provided. Rent to Buy homes include an oven, hob and extractor fan as standard. Specification will vary on each development and will be confirmed to you by the Sales & Lettings Co-ordinator.

You may be able to purchase your property on Shared Ownership during the first 5 year period but Torus are under no obligation to sell until after the 5 year period has expired.

At the end of the 5 year period, Torus will consider the options available and let you know if you can purchase on Shared Ownership, outright or continue to rent the property.

The purchase price will be based on the current market value of the property.  You will need to ensure that you have a deposit saved and be able to pay for the associated legal fees before applying to purchase the property.

The responsibility to save a deposit is yours – Torus will not do this for you. Your affordability assessment will include a Budget Planner based on your income and expenditure along with a 5 year savings plan.

The submarket cost is intended to give you the opportunity to save a deposit to purchase a home in the future. To assist you with this, you will be contacted annually to review your savings progress.

If it is 5 years after the property was built and you can’t buy, the Leasehold Team will discuss your options as you approach the 5th year.

1. Read the Rent to Buy Guide
2. Read the Adverse Credit Statement
3. Complete our Rent to Buy Application Form

You will be required to pass a 2-tier affordability assessment based on 80% of the market rent (including any additional parking charges where applicable) As part of this assessment you will be required to provide supporting documentation which will include a credit report and proof of deposit.