Why people want to "Rent to Own"

Buying a house on Rent-To-Own can offer benefits for many people depending on their situations. It can be especially beneficial for the educated buyer looking for a great deal on a property because if a seller is willing to sell on Rent-To-Own, many times they are in a motivated circumstance (unless it is from an investor). This is a key advantage for buyers.

When a Rent-To-Own buyer moves into a property, a buyer will have an opportunity to spend some time in the property allowing them to intimately learn the property. This can result in a much higher level of comfort and potentially some renegotiating points when it comes to obtaining a loan and putting the title into their name. Buyers can also improve the property. If the value of the property increases, often times a buyer can obtain a loan easier or on more favorable terms due to the lower Loan To value that is achieved through the improvements.

For buyers that are not currently qualified for a loan, the Rent-To-Own option allows them to clean up their credit and save for a down payment for the house they are already living in, thereby eliminating an intermediate move while they are preparing. In some cases a lender will treat the purchase of a Rent-To-Own property more like a refinance than a new purchase for a buyer that has lived in and paying rent on the property over a time. This can make it easier to obtain financing for the property. It is always recommended that the buyer use a third party rent payment service such as the one offered by http://www.landlordtechnology.com in order to pay their rent. Paying rent online provides a third party verification that the rent was always paid on time which will also help in the lending process.

To learn more about paying rent online as well as other useful tools for both tenants and landlords, visit us online at http://www.landlordtechnology.com.