We advised Numai, the first independent rent-to-buy service provider in the EU, in the process of developing their business concept in Estonia.
Numai is offering a service with a unique concept, where the customer is allowed to rent real estate under the lease agreement until they are ready to purchase it, whereby the paid rent is gradually accumulated to the down payment.
By giving people the opportunity to move into their homes more quickly, Numai has already become the largest buyer of residential real estate in Lithuania during the first two years of the company’s operations.
Our services and client team
We advised Numai throughout the process. Our services included advice on legal matters related to setting up the structure of such a “rent-to-buy” business concept in Estonia, drafting the transaction documents such as the lease agreement and real estate sales agreement templates, as well as support in the first transactions.
Business models with similar structures are unique to the Estonian real estate market, thus, given the complex structure of this business concept, our advice required specific knowledge and expertise in real estate law.
Our client team was led by partner Paul Künnap, supported by associate Andra Grünberg (for real estate matters) and senior associate Monika Tomberg (for financing and regulatory matters).