Newly launched rent-to-own Langford rentals offering Holiday moving allowances, tenant perks
MIKE KOZAKOWSKI, CITIFIED.CA
Published December 14, 2019
Langford’s MyBelmont community, developed by Ledcor Property Investments, has surpassed a 60% lease-up rate for its latest premium apartment residences at the 156-suite Crossing at Belmont buildings adjacent to a newly opened Thrifty Foods.
Located on former Belmont Secondary School lands, the master-planned MyBelmont is comprised of rental apartments and condominiums. As of this month, the project’s second phase of rental homes is available for occupancy.
“Crossing at Belmont’s October release of 80 one and two-bedroom apartments was well received by individuals in search of up-market, high-quality rental homes on the Westshore; and we are pleased to announce that the second phase of an additional 76 residences released this month are garnering a lot of attention,” said Reed Kipp, partner of Devon Properties, the Property and Leasing Manager of Crossing at Belmont.
Considering December is a busy time for many, to help Crossing at Belmont’s future tenants celebrate and transition into their new homes throughout the Holiday Season, the Crossing at Belmont’s team has unveiled a series of incentives aimed at making the moving process easier.
“We would like to celebrate the Holiday Season, in an effort to assist future residents with their arrival at MyBelmont and make it as easy as possible, Crossing at Belmont is offering a hassle-free extended move-in period, a $250 contribution towards moving costs for residents leasing a one-bedroom home, and a $500 moving cost contribution for residents of a two-bedroom home.”
In addition to an open window for move-ins and the $250-to-$500 moving allowances, future tenants who sign a lease prior December 31, 2019, will receive the chance to enter into a monthly draw for a $500 gift voucher to use at Sell Off Vacations, one of the many tenants at the adjacent Belmont Market.
As market-leading as the incentives may be, perks for Crossing at Belmont’s residents don’t end there.
MyBelmont's masterplan made headlines earlier this year when it became the first project on Vancouver Island to offer a rent-to-own option for individuals who rent a unit at Crossing at Belmont, MyBelmont's all-rental component underway alongside Belmont Market, developed by Crombie REIT, which is Langford's newest shopping centre offering a wide array of businesses and services, and a flagship Thrifty Foods.
Residents of the purpose-built Crossing at Belmont will have the opportunity to apply 25 percent of their monthly payment towards the purchase of a condominium at Belmont Residences. For example, a tenant paying $2,000 rent per month on a two-bedroom Crossing at Belmont unit will have earned a credit of $500. By spring of 2022, the renter will have accrued a $13,500 down payment toward purchasing a condominium. Specific situations will differ depending on the suite and the rent paid, and participants in the program will be required to sign an enrolment form describing the terms and conditions of the Belmont Rental Rewards Program.
MyBelmont is a new 22-acre community underway on southern Vancouver Island’s Westshore. The project’s residential properties will comprise of six phases, including Belmont Residences East and West, targeting first-time home buyers, working professionals, and downsizers that will be launch in early Spring 2020
Part of a burgeoning district within the Westshore, MyBelmont’s residential offerings are quickly garnering attention as an ideal fit for individuals seeking an urban-meets-suburban lifestyle.
To connect with the Belmont Residences team, click here to view the project’s website, and to learn more about Crossing at Belmont’s rental opportunities, including the rent-to-own program, click here. C
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