{"id":30,"date":"2015-03-29T18:37:41","date_gmt":"2015-03-29T22:37:41","guid":{"rendered":"http:\/\/thinkingoutsidethebox.guru\/?page_id=30"},"modified":"2018-08-31T14:16:08","modified_gmt":"2018-08-31T18:16:08","slug":"what-is-rent-to-own","status":"publish","type":"page","link":"https:\/\/thinkingoutsidethebox.guru\/home\/what-is-rent-to-own\/","title":{"rendered":"What is Rent-to-Own?"},"content":{"rendered":"<h1 class=\"entry-title\"><\/h1>\n<div class=\"entry-content\">\n<p><a href=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/04\/Rent-to-Own-05.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-91 aligncenter\" src=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/04\/Rent-to-Own-05.bmp\" alt=\"Rent-to-Own 05\" width=\"259\" height=\"194\" \/><\/a><\/p>\n<p>Rent-to-own is nothing more than renting with the <em>option<\/em> to buy. The deal is setup using an Occupancy Agreement (lease) and an Option to Purchase Agreement.\u00a0 With rent-to-own, the tenant-buyer has the option to purchase the home at a pre-determined price within a given\u00a0period of time.<\/p>\n<p>Rent-to-own is also commonly known as lease to own or\u00a0lease option.<\/p>\n<p><a href=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/03\/Real-Estate-Investment-02.png\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-69 aligncenter\" src=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/03\/Real-Estate-Investment-02.png\" alt=\"Real Estate Investment 02\" width=\"275\" height=\"183\" \/><\/a><\/p>\n<h2>Benefits of Rent to Own<\/h2>\n<div id=\"dnn__ctl0_ContentPane\">\n<div id=\"dnn__ctl0__ctl0_ContentPanel\">\n<div id=\"IngeniContentBlock_427488\">\n<p>There are several benefits of rent to own, but the biggest benefit to the tenant-buyer\u00a0is that we are often able to help them\u00a0realize the dream of home ownership even when the banks have turned them down. With rent-to-own programs, the tenant-buyer\u00a0can:<\/p>\n<ul>\n<li>Build equity (through the initial option consideration and monthly option credits);<\/li>\n<li>Build sweat equity (through building improvements);<\/li>\n<li>Take time to repair\/establish credit.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<h2>How Does Rent to Own Work?<\/h2>\n<ul>\n<li>With one of our partner mortgage professionals, we assess the tenant-buyer&#8217;s current situation, and determine what they will qualify for after completing our Home Ownership Preparation Program.<\/li>\n<li>With one of our partner real estate professionals, the tenant-buyer selects a\u00a0homes that will meet their requirements, and that they will be able to afford.<\/li>\n<li>We negotiate the purchase of one of the selected homes.<\/li>\n<li>The tenant-buyer puts forward a small option consideration, usually between\u00a03% and 5% of the purchase price of the home.\u00a0 This is credited towards the purchase price at the end of the program.<\/li>\n<li>The tenant-buyer makes monthly payments and a portion of each payment accumulates additional credit towards the purchase price when they purchase.<\/li>\n<li>During the rent-to-own program the tenant-buyer works to establish or repair their credit.<\/li>\n<li>At the end of the program the tenant-buyer applies for financing through one of our partner mortgage professionals.<\/li>\n<li>With the accumulated credits for the\u00a0down payment and a mortgage pre-approval, the tenant-buyer purchases the home and officially becomes a homeowner!<\/li>\n<\/ul>\n<p><a href=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/03\/Happy-Homeowner.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-9 aligncenter\" src=\"http:\/\/thinkingoutsidethebox.guru\/wp-content\/uploads\/2015\/03\/Happy-Homeowner.bmp\" alt=\"Happy Homeowner\" width=\"244\" height=\"206\" \/><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rent-to-own is nothing more than renting with the option to buy. The deal is setup using an Occupancy Agreement (lease) and an Option to Purchase Agreement.\u00a0 With rent-to-own, the tenant-buyer has the option to purchase the home at a pre-determined price within a given\u00a0period of time. Rent-to-own is also commonly known as lease to own &hellip; <a href=\"https:\/\/thinkingoutsidethebox.guru\/home\/what-is-rent-to-own\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">What is Rent-to-Own?<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-30","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Thinking Outside the Box - What is Rent-to-Own?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/thinkingoutsidethebox.guru\/home\/what-is-rent-to-own\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thinking Outside the Box - What is Rent-to-Own?\" \/>\n<meta property=\"og:description\" content=\"Rent-to-own is nothing more than renting with the option to buy. The deal is setup using an Occupancy Agreement (lease) and an Option to Purchase Agreement.\u00a0 With rent-to-own, the tenant-buyer has the option to purchase the home at a pre-determined price within a given\u00a0period of time. 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