SC Asset Corporation, or SC, has unveiled its Living Solution Program under the name Genscription, kicking off with the first model, GenRent, a rent-to-buy concept designed to give consumers flexibility in transitioning from tenant to property owner in the future. Kanokorn Limkamnoed, Managing Director of the High-Rise and International Customer Business Group, said the GenRent model lets consumers choose their desired unit and move in immediately, paying rent directly to the company for up to three years while they manage their finances and improve their credit to apply for a bank loan. A portion of the monthly rent can be converted into a discount when applying for a mortgage to purchase the unit. In the initial phase, SC is piloting GenRent at two condo projects popular with younger generations: Reference Sathorn – Wongwian Yai and Cobb Ratchada – Rama 9, with plans to expand to other condominium projects, as well as townhomes and single houses in the future. The company is also developing at least two more alternative living models under the Genscription program to cater to the diverse and rapidly changing housing trends of the new generation.
SC Asset Corporation Public Company LimitedSC launches a rent-to-buy pilot that could boost demand for its condos by attracting younger buyers who need time to qualify for mortgages.