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Coastal Real Estate Group | as a homeowner would renting out my house with an option to buy be a good idea
 

Coastal Real Estate Group | as a homeowner would renting out my house with an option to buy be a good idea

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Over 30 years of real estate experience in the greater Newport Beach area-Search Newport homes for sale: Coastal Real Estate Group is your source for all things real estate in the Newport Beach area ...

Over 30 years of real estate experience in the greater Newport Beach area-Search Newport homes for sale: Coastal Real Estate Group is your source for all things real estate in the Newport Beach area including Huntington Beach, Coastal Mesa and the rest of Orange County, CA

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    Coastal Real Estate Group | as a homeowner would renting out my house with an option to buy be a good idea Coastal Real Estate Group | as a homeowner would renting out my house with an option to buy be a good idea Document Transcript

    • As a homeowner would renting out my house with an option to buy be a good idea? Are there any risks? As a homeowner if you are even open to the idea of selling your home, renting to tenants with an option to buy is usually a great thing, here are the pros and cons. Benefits of Renting your house with an option to buy Usually you are charging a higher then normal rent because a portion of their payment will go towards their down payment. For example lets say the normal rental rate is $2000 per month, you might set up something where your renter is paying $2300 to $2500 so $300-$500 per month goes towards their down payment if they exercise their option to buy it. Should they not choose to buy it however you just collected some extra rent. Another benefit is your tenants will probably treat their home better then if it was just your house, its going to be their house and they will treat it better most of the time. They are also more likely to improve the house as they plan to be purchasing it at some point in the future. Negative effect of renting your house with an option to buy Really the only negative is you set the price at the time the lease option is set up, so if the market it trending higher you wont participate in that additional appreciation, your renter will, assuming the exercise the option to buy. For more information on lease options in Newport Beach please contact one of our knowledgeable realtors today. Posted at 06/21/2013 04:38 PM by David Feldberg