We know it can be a little difficult to find rent-to-own homes as they are not typically the first option that comes to mind when a homeowner decides to sell. This results in a very low inventory of rent-to-own homes on the market at any given time. Given the low inventory, you may need to do a little more leg work than the average buyer to get into the home you want.
Since inventories are typically very limited for rent-to-own homes you might start by working with a local real estate agent who can find you rental opportunities. It could prove difficult to find a realtor that is familiar with rent-to-own contracts, but they are out there. Once you find a realtor they can act as an intermediary between you and the homeowner and will be able to help you make the best decisions along the way.
Another problem you may face is that many sellers are unfamiliar with rent-to-own lease agreements, or just simply may not be aware that a rent-to-own lease agreement is an option to sell their home. You can always try contacting the owner directly and inquire if they might be interested in a rent-to-own contract. If they are unfamiliar with that type of transaction, you might offer to work with a real estate attorney to facilitate the process.
Searching for rent-to-own homes listed on a website is another great way to find rent-to-own homes. However, you should be careful of fraudulent listings or listings that are not unauthorized by the owner. When seeking rent-to-own home listing online, it is important to confirm the site as trustworthy. For example, a Better Business Bureaus (BBB) logo is located on our website, which lists many rent-to-own home opportunities. At iRentToOwn, we are recognized as a trustworthy business, accredited for our ethical business behavior as indicated by our A+ rating. We are proud to offer an extensive, nationwide selection of affordable rent-to-own properties. We provide information about the entire rent-to-own process on our website. Our listings are updated daily to ensure the latest opportunities available in the housing market.
Once you connect with a potential seller, you should inquire about the owner’s property to ensure it is trustworthy. A couple of the questions you might ask include: How long it has been on the market? Are there any maintenance issues that I should be aware of, such as foundation or plumbing issues? If you have the address of the property you can learn more about its property taxes at the tax assessors and recorders website. With all of this information in mind you should be well on your way to finding a rent-to-own home that is right for you.