Consumers were not aware that they entered into agreements that did not provide ownership rights to them. Instead, the agreement gave the company the right to evict them immediately if they fall behind payments. The agreement also included an illegal provision requiring consumers to take the responsibility of paying for expensive repairs to make the houses habitable.
AG Shapiro aims to stop predatory business practices
In a statement, AG Shapiro said Vision Property Management, its owners and affiliates took advantage of unsuspecting consumers who incurred significant and unexpected costs but never end up owning a home.
He said the lawsuit will “put an end” to the company’s “predatory practices.” It will also “deliver results to the hundreds of Pennsylvanians” who became victims of Vision Property Management’s rent to own scheme.
Additionally, AG Shapiro said, “When consumers face discrimination in seeking to buy a home or apply for a mortgage because of their race, ethnicity, or other factors, they are sometimes forced to seek out alternative methods such as ‘rent to own’ or ‘for sale by owner’ agreements. Unfortunately, many of these agreements are actually scams… This is yet another reason why my Office is investigating allegations of redlining in the Philadelphia region. We will continue to stand up for the civil rights of all Pennsylvanians and work to put an end to institutional racism in housing practices.”
