Rent to Own Program

Renting to Own homes in Atlanta, GA

Are you looking for a good rent to own program? Atlanta, Georgia is full of homes available for both rental and rent-to-own agreements. Many of our homes are offered for both rental and rent to own, or lease/purchase agreements. There are thousands of houses for rent in the Atlanta metro area. Why not investigate the rent to own option? With the rent to own option, you can:

    • Buy a home with less than perfect credit
    • Put a portion of your rent towards a purchase
    • Build equity in your home
    • Get the benefit of the federal mortgage interest deduction
    • Grow roots in the local community

 

Ask your property manager if the property you are interested in has a rent to own option for the rental or lease. Start receiving the benefits of home ownership today!

How the Rent-to-own Program works

When you rent to own, you are putting some of your rent payment towards the purchase price of the home. Rent to own transactions typically last one to three years. At the expiration of that time, you would purchase the home like normal, but the owner would credit you the amount you agreed to set aside from the rent each month. For example:

Monthly Rent: $1000

Amount set aside per month for purchase: $150

Amount set aside for purchase after 36 months: $5400

Purchase price of $85,000 – $5,400 = $79,600

 

This is your typical rent to own transaction. Lets assume you agree to a three year lease, with the option to purchase at the end of those three years. You have also agreed that $150 of the $1000 rent payment will go towards the purchase price of the property. Over three years, you can build up to $5,400 in credit towards the purchase of the home that you’re already living in. Ad the end of 36 months, you will decide whether you want to purchase the home or not. If so, you would take the agreed-upon price and subtract $5400 from it, saving you almost $6000 instantly on the purchase of your new home. One of the great components to rent to own is freedom. Many rent to own contracts don’t force you to buy the home at the end of the contract, but they do give you the option. The downside, of course, is that you would loose the money you have set aside for the purchase if you decide not to buy the home. How do you qualify for a rent-to-own home? The qualifications are usually more stringent then with rent only transactions. Most Landlords would like to see a reasonable credit history and good and stable income. To apply to rent to own one of our homes, click here.