APNU’s rent-to-own housing plan hinges on public trust, payment discipline – Norton

Presidential candidate for A Partnership for National Unity (APNU), Aubrey Norton, on Friday admitted that the success of his party’s proposal for a rent-to-own housing programme rests heavily on optimism, public trust and the payment discipline of future homeowners.
Pressed during his weekly virtual press conference for key details about the programme such as the projected cost of the homes, repayment periods, the consequences of payment default and whether the Government would bear the burden of legal enforcement, Norton offered vague responses.
Rather than outlining a specific framework, Norton is leaning on the hope that mechanisms would be “put in place” to ensure affordability and consistent payment.

“I am optimistic we will put mechanisms in place to ensure that the people who obtain those houses can afford to pay for them,” Norton rationalised.
“We are also saying very clearly that we want to house people and therefore, there should be no real concern about people paying for those houses. They will be able to [pay] because our main aim is to improve the lives of the people, put money in their pockets and allow them the opportunities to live a better-quality life than they are living now. We shall pursue that and achieve success.”
According to Norton, given that the rent-to-own schemes are not new to Guyana, that’s enough to forecast the success of the programme. All-inclusive resorts
“Rent-to-own is not new,” Norton said. “Some people might be too young to remember, but in some regards South Ruimveldt was a form of this. The Government-built houses, people paid and when they were done, the houses became theirs.”
Presented as a cornerstone of the party’s “Poverty Reduction Strategy” programme, the rent-to-own strategy entails Government-constructed homes being rented out to citizens under terms that mimic mortgage payments. Once the total cost is paid, the occupant would own the home outright.
However, the absence of detailed financial modeling, legal safeguards, or administrative logistics has left some observers questioning whether the plan is fully developed. Concerns include how defaults will be handled, whether the Government has the capacity to act as landlord and whether public funds might be at risk if widespread non-payment occurs.
Nonetheless, Norton remained confident that with trust in citizens, the initiative could succeed.
“We shall pursue that and achieve success,” he declared.