Real Estate Latest Blog

May 11th, 2008

Lease to Buy Option

Posted by Robert in Real Estate, Tips

Buying residential property means a lot of hard-earned money, and not everyone can afford it. However, there’s something called the lease option that you can look into. It’s a contract where after a specific time, the lessor can sell the property to the lessee by the end of the contract. It might be at a lesser rate than when buying the house outright from the beginning.

Here are the benefits:

  • For landlord or investors, the rental that he or she will receive from the tenant will be more upfront.
  • Another benefit for a landlord or an investor is higher rent.
  • Higher sales price is also another benefit for the landlord or investor.
  • In a common or typical rental agreement, the landlord is the one who assumes the maintenance cost of the property.
  • In a lease option agreement, better tenants are attracted.
  • Another benefit of a lease option is that the landlord does not have to totally renovate the residential property.
  • When the property has been sold, the landlord’s responsibilities are lessened

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