Lease Purchase Homes, Homes for Rent to Own, Lease Option one to three years is the usual length and the price of the property is usually established at the contract signing. However, other details of the arrangement depend on which type of rent-to-own agreement you enter.

A lease option allows the buyer-tenant to work towards the purchase of the house without an obligation to buy. This arrangement provides the buyer-tenant 12 to 36 months to save money or raise a credit score that is slightly below the needed one. A lease option also reduces the potential buyer s anxiety about making the long-term and all-inclusive commitment of purchasing a home and provides him or her time to further consider the pros, cons and responsibilities of home ownership. At the same time, a lease option agreement gives the seller-landlord more security than with a traditional renter. The tenant can ultimately decide not to by the home, but he or she usually forfeits the original deposit and the rent premiums paid every month.

Lease Purchase

Sellers, landlords and property managers who have available rent-to-own homes can list their property on RentalHouses s searchable database. Simply add your rent-to-own homes and provide the information, listing price and option amount on the listing form. Searchers can also get information on lease options and purchases through our regular homepage searches by narrowing their search to houses with lease option or purchase agreements.