Rent-to-own homes, with the terms in the open.
Every home here states its rent-to-own terms up front — the rent, how much of it counts toward the price, the option period, and the purchase price or how it's set. If a listing won't state its terms, it doesn't read as rent-to-own here.
How rent-to-own works here — and what to get in writing.
Rent-to-own means you rent the home now, with an agreement that part of the arrangement lets you buy it later on stated terms. The terms differ on every home — they are the seller's terms, stated on each listing.
RentToOwn.direct is a listing board. It is not a seller, a lender, or a party to any agreement, and it does not verify a seller's terms or hold anyone's money.
Before you pay anything beyond a normal rental deposit, get the full agreement in writing and have your own attorney read it. The questions it should answer in plain words:
- What is the total purchase price, or exactly how is it set?
- How much of each month's rent counts toward it — and what happens to that credit if you don't buy?
- How long is the option period, and what ends it early?
- Who pays for repairs, taxes and insurance during the rental?
- What happens if you're late — once, or more than once?
A seller who won't put the terms in writing is telling you something. Believe them.