The Lease And Purchase Option

Article by: Quoc Nguyen

If you have an investment property, , Flood Insurance should you rent it or sell it? The answer to that question is that you should do both. If you have lots of time on your hands and are handy with tools, , Do Plants Have Special Needs? you can choose to rent out your property. , Rock Gardens … A Different Kind of Garden However, if you have several properties , History of Wild Roses for rent, maintaining them can consume lots of your time. You can choose to hire someone else to maintain your properties, , Laying Out Your New Landscape but it cost you money. And higher expenses mean lower profits. In addition to investing your time, finding good tenants for your properties , Roses At 40 Below? is not easy. Tenants that choose to rent usually do it for a reason. They are usually having credit problems. In addition, most tenants do not take good care of your properties , Rock Gardens … A Different Kind of Garden like they would their own homes. , The Best Online Slot Machines Around And when things go sour, they can mess up your house , Softening Your Walls with Color Wash before they move out. Your goal is to find good tenants to rent your property, , Japanese Garden Lights bring tranquillity to your garden and peace to your body and mind transfer the maintenance responsibility to them, and create incentives for them to eventually buy your property. , Softening Your Walls with Color Wash Including the option to purchase to the least contract can eliminate most of the headaches associated with maintenance and dealing with bad tenants. There are several other benefits to the lease and purchase option.

Because the rent is usually higher when you include an option to purchase, this can eliminate most tenants only wanting to rent. People looking for the lease and purchase option are those usually in the process of rebuilding their credit, or are saving money for their down payment. To be fair, the duration of the contract should be between 2 to 3 years, long enough for your tenants to rebuild their credit.

This contract also transfers the maintenance responsibility to your tenants. Not having to worry about maintaining the property , Multinational Corporation ERP Implementation – Microsoft Bus frees up your time for you to continue to expand your business. Giving your tenants the option to purchase your property , Japanese Garden Lights bring tranquillity to your garden and peace to your body and mind create an incentive for them to take better care of your property. , History of Wild Roses You may also choose to apply some of their rents toward the down payment if they decide to buy your property. , History of Wild Roses This is another incentive for them to pay the rent on time, and eventually buy your property , How to Make a Weed Dabber at the locked in price.

During the contract, you cannot sell the house , Building Better Bathrooms With Your Own Designs to anyone else other than your tenants. However, you charge your tenants a fee (usually 1 to 2 percent of the purchase price) for the option to lock , Tips on How to Plant Roses in the price of your property. , How to Grow Cucunbers If your tenants do not purchase the property , It’s Spring And Time To Garden! before the purchase option contract expires, you get to keep the option fee. However, if your tenants utilize the option to purchase anytime during the contract, you must return to option fee to your tenants. Either way, you are making money whether your tenants buy the home , Multinational Corporation ERP Implementation – Microsoft Bus or not. If your tenants decide not to purchase your property , How to Grow Cooking Herbs and the contract expires, you can begin the entire process all over again.

The important points about the lease and purchase option are that you are looking for good tenants to rent your property, , 8 Simple Tips to Keep Your Lawn Mower Running create a constant cash flow from the rent, transferring the maintenance responsibility to your tenants, which frees up lots of your time, and eventually sale the property. , Front Load Washers – some facts before purchase Part 1 Your ultimate goal is to sell the property , How to Attract Butterflies to Your Garden to good tenants at a price that is fair. The deal should be fair enough that both parties come out feeling like winners. This is important if you want to be in this business for a long time.

About the Author: Quoc Nguyen can help you start your own profitable business on the Internet , Something old, something new within the next 24 hours! To learn more, visit: http://www.OnlineFreedomWork.com/pips.html Source: www.isnare.com

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