As a landlord you can get a lot of advantages by doing a lease-option. It can be win-win for a landlord and a tenant.
The advantages to a tenant of a lease-option is that they get the chance to buy a property that they normally couldn't afford and set the price for anywhere from 2-5 years. Their cleaning deposit, if they should exercise the option to buy, becomes part of their down payment along with a portion of each months rent.
What the landlord gets in return is more money every month that is on time. If the tenant is late more than two times during the contract period, they lose the right to buy the property and the seller gets to keep the original deposit along with any money that was the portion of each months rent check that was set aside.
The advantages for you the seller are you no longer have to do 2am toilet fixes! This now becomes the tenant's problem, since they are now considered owners and all repairs and maintenance is done by the buyer. The best part of doing a lease-option is, if the tenant ends up choosing not to buy, you get the property back and still get to keep the additional rent money. You can then start the whole process over again and make even more.
For more information on selling your property through lease-option, please feel free to contact me any time or come to my upcoming FREE seminar.
Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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