Lease options when selling
When we sell on rent to own or lease with option to a tenant buyer, we want good Market rent with a 3 to 5% option payment that subtracted from the purchase price.
We also want to give them a rent credit that will subtract from the purchase price to persuade the tenant to pay the rent on time. They don’t get the rent credit unless they pay the rent on time.
We do charge slightly more than Market rent, generally 105% of Market rent.
The term of our leases are generally 36 months but we do 12 months at a time with extensions.
