Re: Rent to Own - Landlord Forum thread 357285

Re: Rent to Own by Anonymous on May 11, 2018 @05:54

This can work out well if you have a good contract. Usually you want a 5 or 10 thousand dollar non refundable deposit. And the T pays 200 or more in extra rent that applies to the purchase price. In most cases the T ends up bailing out over several years due to family issues job, or health. You end up keeping the property. With the extra rent and deposit. T maintains the property and all repairs.

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Re: Rent to Own by EM (TX) on May 11, 2018 @13:55	[ Reply ]

You're getting downvoted for some reason but yes, rent to own can be a good deal for the landlord. Actually, it's often quite bad for the tenant--I think the deals are often structured such that if the tenant fails to make all the payments they lose their "equity" as you noted. I'd get a real estate attorney and pay them a few hundred bucks before trying to do a rent-to-own deal. Usually rent-to-own is for bad credit tenants who can't get a mortgage.

Re: Rent to Own by Anonymous on May 11, 2018 @15:06	[ Reply ]

Yes, the tenant is responsible for all repairs. Guess what that means? After the tenant bails in a year or so, you're left with a dilapitated house because the T has never had to worry about repairs before in his life. And has now learned that they're either (a) time consuming or (b) expensive, so he just doesn't do them. Good luck with that.

Re: Rent to Own by Anonymous on May 11, 2018 @15:28	[ Reply ]

Only you would just skip off to fairy land allowing for the house to be destroyed. Most Landlords or owners would check in from time to time to make sure the property is being preserved. the Rent to own T don't own it until it is paid for in full. Like your friend on here responds" STOP PLAYING LIKE YOU ARE EITHER A LL OR A PROPERTY OWNER. YOUR ANSWERS TELLS THE REAL STORY.

Re: Rent to Own by Anonymous on May 11, 2018 @15:53	[ Reply ]

En Ingles, Por favor.

Re: Rent to Own