Why do you want a rent to own?
For some it can be the correct answer, maybe it is for you?
Lot's of questions surrounding your situation that we should explore.
I could help you get into a contract like that if you would like, please let me know.
Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
There are a number of factors to consider when looking at these. If you would like to discuss it further, please call me so we can do that.
Have a great day!
Real Estate Professional-
Keller Williams Sonoran Living
There are several large Wall Street funds that are buying single family homes in Phoenix. As you can imagine, their goals are best return on investments. If the tenant is motivated to keep the home in great shape, as it was their own home, both parties benefit - the Landlord does not have to look for new tenants every year, and the tenants know they do not have to move after a year.
As mentioned below - rent-to-own is technically one of two types of contract s Lease Option to purchase or Lease Purchase at a set future date.
I would encourage you to work with a Buyer's agent when signing one of these contracts. In most cases they may be more beneficial to the Landlord.
Please call me to discuss in more detail, if interested.
Steffy Hristova, MBA, SFR, RealtorÂ®
Tel: (480) 966-9353 Fax: (602) 507-3703
3131 E. Camelback Rd. #125
Phoenix AZ 85016
Two of the trickiest parts are the future purchase price along with any credits to be given towards the "future" purchase price.
As with any contract or purchase it is only as viable as the terms and parties involved make it.
Most homes aren't listed on the MLS as rent-to-own (technically, either lease-option or lease-purchase). In fact, there's no real way to do that.
You might see some homes listed for sale AND for rent. Those are prime candidates. Or the agent may put into the comments (either the public comments or the ones that just other agents can see) something like: "Owner may consider lease-option" or "Owner may consider owner-financing."
Sometimes, though, the house is just plain listed for sale. In your offer, you have to make it a lease-option and see whether the seller finds that acceptable.
For more ways to find rent-to-owns, see my blog at http://bit.ly/findaleaseoption
Hope that helps.