I'm trying to understand these lease option opportunities. Not even sure I'm naming it correctly. Lease with purchase option?
Answer me this, please... Do you screen candidates the same as you would for a straight rental lease agreement? Or are there different criteria by which you screen for a lease/purchase option situation? Thanks.
It is less stringent, since they are giving a non-refundable deposit and then paying rent on top of that.
We have a clause which states that if they miss a rent payment, the lease option part is no longer valid, so they definitely have an incentive to pay.