Rent-To-Own ques - deposit/term
I have a house not selling so I thought maybe I should try Rent-to-Own on it. Read a book and whatever I could find online.
Was curious what is the general deposit calculation pros on biggerpockets use for rent-to-own - 5/10/15%? Do you advertise this percentage, or it varies from applicant to applicant?
What is the general term of option contract (2/3/4 yrs), do you base it on their credit score (accounting for the amount of time they would take in fixing the their credit) ?
I also have a realtor currently for sale of the house with x% commission. If house is rented then commission is one month's rent How does it work with rent-to-own, since house has really not sold, same as rental?
Thanks!