Edmonton Alberta Canada
I am very new to real estate and am currently renting a property through a property management company .
After doing some market research I have discovered the neighborhood I reside is rising in value quite rapidly (riverside location beautiful parks and recreational area's )
Now my question to everyone (pardon my ignorance)
If I wanted to approach the house owner regarding a Lease option would I try to get his information from the property management company or would I contact the property management company about wanting to lease option.
I feel as though it would conflict against the property management company seeing as how they make money from me renting .
Any advice would be appreciated immensely !
I also should mention that I have not saved a down payment OR that I am in the process of rebuilding my credit and although I have come a VERY long way I have average credit at best .
@Curtis Walker It's very unlikely the PM will give you the owners contact info for exactly the reason you mentioned, but you don't have anything to lose so you may as well ask! Same goes for asking the PM about lease options. Most PMs don't deal in LOs so they wouldn't be able to help there either.
If you're not in a rush then your best bet is to monitor kijiji and call/text/email every For Sale by Owner ad with a house that matches your criteria and ask if they would consider doing a rent to own. When you get a yes go over and take a look and if you want it and can come to an agreement on rent, price, and option length, take the deal to a real estate attorney to draw up the contract.
@Doug Pretorius thank you very much for your advice, I will approach the property management company in regards to a lease option and if they are not willing to accommodate I will then start the hunt elsewhere !
@Doug Pretorius do you by chance know a good link to find a generic Rent to own agreement so I could familiarize myself with the "typical" requirements ?
I apologize if this seems ignorant of me, I am swimming in the dark here .
@Curtis Walker Sent you a PM. I'd be happy to answer any questions you may have. I've been doing LOs for nearly 20 years.
Pull the title from the spin2 map index and pay 10$ to get the ownership info. Generally that works but it may be owned by an entity without a phone number.