What is Rent to Own

By: Renting To Own  11-08-2014
Keywords: apartment rentals, house rentals, apartments for rent

Rent-to-own concept works just like rent to own furniture albeit at a higher price bracket. The tenant and the owner enter into an ‘Option to Purchase’ agreement. It includes an initial fee plus a monthly rent and the buyer/tenant acquires the exclusive right to buy the property after a set period of time later at a pre-defined price. Usually, the fee stands at 2.5% to 5% of the home’s price. A part of the rent is credited towards the down payment.

Keywords: apartment rentals, apartments for rent, house rentals, Rent To Own

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