For those with poor credit history and those who cannot outright buy a residential property, the best selection for you would be the lease option. It’s like rent-to-own, but you’re still given the option to either rent or buy the property.
Here are the benefits:
For landlord or investors, the rental that he or she will receive from the tenant will be more upfront.
Another benefit for a landlord or an investor is higher rent.
Higher sales price is also another benefit for the landlord or investor.
In a common or typical rental agreement, the landlord is the one who assumes the maintenance cost of the property.
In a lease option agreement, better tenants are attracted.
Another benefit of a lease option is that the landlord does not have to totally renovate the residential property.
When the property has been sold, the landlord’s responsibilities are lessened
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Filed under: Tips by Robert