The specifics of rent-to-own agreements can vary, this is how we operate:

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1. Option Fee: The tenant pays an upfront fee, known as an option fee or option money, for the right to purchase the property later. This fee is applied toward the purchase price of the home.

We require 10% of the Purchase Price Due as Deposit (To be paid in full within the 1st Year). Minimum 5% of Purchase Price or 5k (whichever is higher) down at signing, the rest of the deposit can be paid throughout the 1st year.

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2. Rent Premiums: In addition to regular rent, the tenant may pay a rent premium or an extra amount that is also applied toward the purchase price if they decide to buy the home. This helps the tenant build equity in the property over time. Monthly payments will also include property taxes and insurance.

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3. Lease Term: Rent-to-own contracts specify a lease term during which the renter can live in the home; at the end of this term, the renter has the option to buy the house or extend the lease and option. The term is typically between one to three years, giving the tenant time to improve their credit score or save for a down payment. If the tenant is in good standing they will be given the option to extend the lease and option to purchase if they are still not in a position to purchase the home.

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4. Purchase Price: The agreement may set the purchase price of the home at the outset or include terms for determining the price when the option to buy is exercised.

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5. Maintenance and Repairs: Most of the homes we provide will be fully remodeled. Maintenance and Repairs are covered under warranty for the first 30 days after signing the lease. After 30 days, all maintenance and repairs are the tenants responsibility. You can make changes and improvements to the home with approval.

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6. Option to Buy: At the end of the lease term, the tenant can choose to purchase the property at the predetermined pricing terms, walk away, or, renew the lease and option to buy.