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