Updated 4 months ago on . Most recent reply
Lease Option For Low Price Point Houses
I am considering offering tenants a lease option to purchase the house they are renting. I don't actually care if they purchase the house. I will price it at market plus a small percentage to reflect the value in 3 years. I am looking for the tenant to have skin in the game and hopefully not be evicted nor trash the place, in fear of losing "their" house.
The model I am considering is a standard lease and a low cost, non refundable fee to purchase the option. I am thinking a 3 year term with an additional monthly lease option payment. They would receive a buyers credit towards their down payment. I need to do some research to determine how to legally structure this in Florida.