Rent To Own Income Property Ontario
“While rent to own or lease to own transactions are most commonly conducted in the context of consumer goods obtained at a retail store, this type of transaction also describes a specialized real estate agreement. In a rent to own or lease to own real estate agreement, the tenant has the option to purchase the real property at a fixed price within a specific period of time, usually one to three years. As part of the contract, the renter may be required to make a non-refundable deposit. Occasionally, a portion of the monthly rent paid during the lease period is counted towards the down payment on the property, often in addition to the monthly rent as a monthly premium that sets the rent above the current market rate. If the tenant is unable to exercise the option to buy, the owner is then free to rent or sell the property to another buyer, or to restructure the contract.”
Source: Wikipedia, the free encyclopedia.
Triple Your Rates Of Return With a Rent To Own Property In Ontario
Rent To Own or lease to own investing is similar to the 'buy and hold' strategy. However, instead of getting a ‘renter’ to occupy the property you find a 'rent to own' tenant. The rent to own tenant has the option of buying the property at the end of the rental term, which is typically in the range of 1-5 years.
This lucrative strategy eliminates the problems that can be found with the traditional 'buy and hold' strategy. Rent to Own investing is a hassle-free investing strategy and its benefits include:
Realtors & Mortgage Brokers: ‘No more lost business and unhappy clients!’
Have you ever lost a deal because the client could not qualify for the mortgage due to credit or down payment issues? You now have a ‘rent to own’ solution!
This program is specifically designed for real estate & mortgage agents, who have suitable 'Rent to Own Tenant' buyers who have a down payment and desire all of the benefits of home ownership, but cannot qualify for a mortgage. Our program will allow you to overcome your client's inability to get a mortgage so you can still complete the transaction and help families to own a home.