Rent to Own can be a valuable option for both owners and renters and in today's real estate market. It can be helpful to home owners that have properties in need of renters to help cover carrying costs. This is a great alternative for those buyers who have owned homes before and see the value in building equity and for those hoping to own a place they can call theirs in the future.

The way it works is that the owner and tenant sign a lease option agreement in which a price, terms, and performance date are included. At the end of the term agreed upon, the tenant has the opportunity to get financing and opt to purchase the home with terms defined in the lease option agreement. Those terms typically stipulate that a portion of the tenants rent will be applied to the purchase price at the end of the agreed upon term. A down payment is collected at the time the original agreement is signed and the tenant lives in the property knowing that a portion of their rent is going towards owning the home.

For those with imperfect credit, this is a great opportunity to get back on track and work to re establish your credit and show a steady track record for timely payments. This will be favorable in applied for future loans.

Please refer to our Rentals page for available Rent to Own opportunities.

Rent Vs. Buy Calculator

RENT TO OWN - Under Contract

Please click on photo to get more details on this beautiful home. Please call 612-810-0001 or email laurel@GarnetRealEstateServices.com if you are interested in more details on rent to own on this home.  It is currently being advertised for sale, for rent, or rent to own.  This 4 Bedroom, 2 Bath home on 3.67 acres is available to rent for $1,250.00/month plus utilities.

If you are a property owner and looking for assistance to help find qualified residents for your home or investment property, please visit our Property Management page for information on our services and fees.  We have many qualified residents looking for a home now and we are in search of properties that will meet their needs.