Q: How does Prehome help me build financial stability?

A: Prehome provides financial guidance and counseling to help you build your financial resources and savings in order to become a fully-eligible homeowner in 2 years. We stay with you during your rental journey while enabling you to be financially responsible and make you ready to buy them home when you want to. Its tech enabled process is further designed to help you navigate the transition from being a renter to being an owner.

Q. What are the costs involved in signing up an apartment with Prehome?

A: The entire Prehome program is based on a bedrock of trust and transparency. All the costs are declared upfront for the renter to make an objective decision of getting into the program. For the renter, the following are the costs.

• A nominal finder’s fee towards Prehome once you become eligible for the program
• The monthly rents that are payable till the end of the tenure
• A security deposit that has to be paid upfront towards the apartment
• Legal and financial due diligence fees if any
• A success fee at the end of the tenure provided Prehome has enabled you to transition from a renter to being an owner

Q: What is the security deposit required to rent an apartment with Prehome?

A: The security deposit required to rent an apartment with Prehome may vary based on the property and location, but typically it is equivalent to a few months' rent.

Q: Are there any hidden costs or fees associated with renting an apartment with Prehome?

A: No, there are no hidden costs or fees associated with renting an apartment with Prehome. All costs and fees are disclosed upfront.

Q: Is there a possibility of a rent increase during the rental period

A: No, the rental rate is locked in for the duration of the rental period, ensuring that customers can plan their finances accordingly.

Q: How does Prehome help me build financial stability and become a homeowner?

A: PreHome stays through the renters journey enabling them with financial education and counseling, credit score improvement advice, and access to resources that can help these renters build financial stability and become homeowners within the tenure.

Q: Do I have to make a down payment to sign up for Prehome?

A: No, you do not have to make a down payment to sign up for Prehome. You only need to pay the monthly rent for the apartment you choose.

Q: What kind of properties does Prehome offer?

A: Prehome offers pre-selected ready-to-move-in apartments with high intrinsic value for rent, enabling you to move into your dream home right away.

Q: What amenities are included in the apartment?

A: The amenities included in the apartment may vary based on the property and location. However, Prehome's properties are typically in societies with existing habitation and all the basic amenities are provided for.

Q: Can I customize the apartment I rent through Prehome?

A: The Prehome program is designed to offer you ready-to-move-in apartments with flexibility to customize it your way. You have the freedom to upgrade your wardrobe, paint the walls or get a pet.

Q: How does Prehome work?

A: Prehome enables you to move into your dream home today as a renter and through a financially beneficial rental plan over the tenure make you a fully-eligible homeowner. The prehome program offers the benefit of locking in the property's value on day 1, allowing the benefits of capital appreciation to flow to you when you are ready to buy the house after the tenure.

Q: How does the rent-to-own program work?

A: PreHome's rent-to-own program allows customers to rent a ready-to-move-in apartment with the option to purchase it after the rental period is over. During the rental period, customers can build up their savings in order to have the ability to buy the home when they are ready at the end of the tenure.

Q: What is the minimum and maximum rental period for Prehome's rental program?

A: The rental period may vary based on the property and location, but typically, Prehome offers a minimum rental period of 2 years and a maximum rental period of 3 years.

Q: What is the process for purchasing the apartment after the rental period is over?

A: At the end of the rental period, customers have the option to purchase the apartment at a locked-in price, which is specified right at the time of renting the apartment.

Q: What if I am unable to continue with the Prehome program?

A: The Prehome program is designed to offer you flexibility to decide on your commitment to home ownership. The program has two phases, a rental phase and the phase that provides the person with the option to choose to unlock ownership after a fixed tenure. You are free to decide to leave in case you feel you do not want to continue with the program.

Q. Is the Prehome program like a loan?

A: No, loan providing institutions (usually banks and NBFCs) allow you to borrow money to purchase a home. These institutions require you to pay a down payment and over time you pay back the institutions along with floating rate interests that these institutions keep changing over time. With Prehome, you are not taking a loan, but choosing a new path to home ownership. Our investors/partners own the home while allowing you to graduate from being a renter to a homeowner. There's no debt to repay or interest charged as you haven't borrowed anything from them.

Q. What if Prehome goes out of business?

A: The Prehome program is designed to protect the home and your path to home ownership irrespective of the least possible outcomes. The agreements you sign are designed to protect you from such outcomes.

Q. Is the Prehome model different from renting?

A: Principally, Prehome isn’t much different from renting in practice. However, a lot of features of the program are designed specifically to enable you to be a homeowner. Unlike renting, you cannot be asked to leave at any point of time as long as you're paying rent and not breaching the contract.
Additionally with Prehome, you get the following benefits over traditional rentals.

• You have the freedom to upgrade your wardrobe, paint the walls or get a pet.
• Transparent pricing with clear contracts and knowing exactly what you pay for
• Option to lock in price and save towards your down payment till when you are ready to buy

Q: What are the eligibility criteria to rent an apartment with PreHome?

A: Prehome is designed to help renters become eventual owners. The eligibility criteria may vary based on the property and location, but typically, PreHome requires renters to have a stable income and a good credit score. We will also do an industry-standard check on your eligibility including reference checks.