Robert's answer is pretty good.

After all, if the person had stable employment (and some downpayment), he or she probably would simply buy, rather than looking for a lease-option/rent-to-own. So it's likely that someone offering a house on a lease-option recognizes that the tenant-buyer, for any number of reasons, probably isn't currently in a position to buy. In short, it's not a deal-killer in most cases.

The best way to rent-to-buy if you're not employed is to offer a large up-front option fee. For instance (just making these numbers up; they're totally hypothetical), let's say there's a $100,000 home that would rent for $600. With a lease-option, the owner might normally want $2,000 as an option fee, plus rent of $700 with $250 being credited toward the purchase price.

If you came in and offered $6,000 as an option fee, that might very well offset your current lack of a job. Or if you could afford an even higher rent--let's say $800 with $300 credited toward the purchase price--that'd be attractive, too. Or offer a higher option price, coupled with a larger up-front option fee or higher payments. In this example, maybe an purchase price of $110,000, $5,000 option fee, and $725 in monthly rent.

So figure out what you can offer to make the deal more attractive. More money up front, more money month by month, and/or more money at the end. That'll improve your chances of finding a property to buy.

Hope that helps.

Hi Tom. Just like renting or purchasing a home, the landlord or mortgage company will want to verify your income in order to get a sense of your ability to pay your rent or mortgage. If there are other working adults living with you, or you have a friend or family member who is willing to co-sign, the landlord might be willing to work with you. In today's economy, everyone has a "story to tell".....be honest and upfront.

Robert Greenblatt
Keller Williams