Rent to own homes allow buyers who are on low credit to purchase a house over a period of time. It is a good option for sellers too whose house has remained vacant for a long time. Rent to own homes is becoming quite popular in some of the areas.

1. Rent to own homes – How do you find rent to own homes
Due to cash shortage and downpayment issues, some individuals aren’t able to buy houses. Traditional
mortgage loans can cause problems but still, they can buy a home using the rent to own homes option. Rent
to own homes agreement allows renters to buy a property at some point in the future within the period of
lease. In such case however, renters are required to pay a certain extra percentage of the total rent that will
be credited to them and will be used at the time they purchase the house. However, sellers need to be
extremely careful about maintaining the cashflow or seek financing options from banks. If they aren’t able
to purchase the property at the end of the lease, they will lose the extra money they paid for rent.
On the other hand, some rent to own homes oblige you to buy the property at all costs at the end of the
lease. So, you should be wary of reading the agreement properly before signing on it.
Rent to own homes: How to find such homes
Rent to own homes can be the best choice for both buyers and sellers especially in areas where real estate
market is slow. Here are some tips that will help you find rent to own homes:
1. Check your local newspaper for rental listings. If they offer a rent to own house option, it would be
mentioned right on the advertisement.
2. Make a call or email the property owners who haven’t mentioned the option of rent to own homes
in their rental ads. Ask them if they offer rent to own options. Some sellers might not be willing on
that but if their property has been vacant for a long time, they might consider doing so.
3. And how can we forget Craiglist. Craiglist is among the most popular places to advertise anything
including real estate for sale or rent. Search with keywords like “rent to own homes”, “rent to own
houses”, “rent to own properties”, ‘Lease to own”, “Lease to own houses”, “Lease to own homes”
etc. and you would get appropriate results.
4. There are many websites that are dedicated to offer rent to own homes resources and search
options. Besides the search tool, they also have advertisement sections where you would easily find
the rent to own properties. The search tools on such sites offer an option to filter the results by
price range, location etc.
5. Call real estate agents in your area and see if they have anything for you. If they don’t have at the
time, ask them to give you a call whenever they find such properties. Agents might as well convince
property owners whose properties haven’t been selling for a long period of time. So, just give them
a call and see if they can do anything to arrange for rent to own homes.
If you are thinking of investing with a motive of renting to own, learn more from this free 10 part ecourse
namely Filthy Riches by popular Real Estate Investor and Coach Larry Goins.