Posted in Guide | Sunday, May 11th, 2008 | No Comments » Trackback
A lease option is the best selection for those who have poor credit history and those who cannot outright buy a residential property. A lease option is like a scheme between the lessee and the lesssor wherein the lessee will pay rent for a specific amount of time. Thereafter, the lesser will be given the option to buy the property or not.
Here are the benefits:
For landlord or investors, the rental that he or she will receive from the tenant will be more upfront.
Another benefit for a landlord or an investor is higher rent.
Higher sales price is also another benefit for the landlord or investor.
In a common or typical rental agreement, the landlord is the one who assumes the maintenance cost of the property.
In a lease option agreement, better tenants are attracted.
Another benefit of a lease option is that the landlord does not have to totally renovate the residential property.
When the property has been sold, the landlord’s responsibilities are lessened
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