We will execute a “Lease Option Listing Agreement” on your property which allows us to legally market and advertise your home, show it to prospective tenant-buyers and present offers on behalf of our clients. This agreement is non-exclusive, meaning that if you lease or sell the property to someone you found on your own there are no problems and you don’t owe any fees or commissions. You may also cancel this agreement at anytime without fees or penalties. We get paid only when we find a qualified tenant-buyer that you approve of. Our fee is the tenant-buyer’s option deposit, which will be part of their down payment when they exercise their option and buy the home.
What is your involvement in collecting the rent?
We have no involvement in collecting the rent, other than to setup the bank draft authorization and get it executed and collect the first month’s lease payment at the time the lease is executed.
What is your marketing plan for my property?
The marketing plan involves professional marketing via more than 20 websites, including our own. Because of the volume of articles and press releases we circulate and the content on this sight, we are blessed with a high volume of traffic. Additionally, we will email blast your property to our growing database of prospective tenant-buyers. We have far more tenant-buyers than we have homes.
Who is responsible for repairs on the home during the lease-option period?
Another important point is that our leases are “triple net” with the tenant taking responsibility for all maintenance and repairs on the home. (After all, it is going to be their home.)
Why do you believe you can find a better tenant that I could do on my own?
With a single property, you will most likely attract a career renter, which isn’t what you want. Career renters don’t exercise the option, destroy the homes, want to harass you at every opportunity about repairs, and generally want to pay less than your cost to carry the home. Our clients come to us because they are interested in our program. Very often our first contact is non-specific to a home. With a single or even several properties, it would be difficult for you to provide the same level of value to the tenants that we strive to do. This value allows us to attract a better caliber of tenant.
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If you would like to speak to someone about our Rent-to-Own Program, call Will at (801) 675-8695
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