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Updated 8 months ago on . Most recent reply

User Stats

60
Posts
26
Votes
Mona V.
  • Investor
  • Cary, NC
26
Votes |
60
Posts

Rent-To-Own ques - deposit/term

Mona V.
  • Investor
  • Cary, NC
Posted

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!

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