Annual Purchase Pricing FAQs
Who can receive annual purchase pricing?
All new Divvy tenants! Once rolled out, all new leases will receive annual purchase pricing to help create visibility and increase optionality for tenants who are ready to buy the home back from Divvy.
How is annual purchase pricing calculated?
It is based on our best-guess prediction of local price appreciation (currently taken from 3-year zip-level House Canary estimates), with guardrails applied so that average yearly price appreciation cannot be below 2.5% or above 7.5%. After the initial 3-year commitment period, these guardrails widen to 0% and 10%.
Where can a tenant view their annual purchase pricing?
In the customer portal. Active and future purchase pricing will be displayed in a new informational card on the customer’s portal.
How will customers be notified about purchase price changes?
Tenants will receive written notice through email at 120, 90, 75 and 60 days prior to their lease terms’ scheduled end date. Tenants will also receive alerting in their tenant portal.
At time(s) of notification, the tenant(s) will receive visibility into new lease terms including - 3 years of rent visibility, 3 years of annual purchase pricing visibility, and new lease term dates.
How can a customer notify Divvy that they are ready to purchase their home?
Tenants can email operations@divvyhomes.com to start the purchase process. Once started, their tenant portal will display a new purchase card which will track the status of their purchase process.