Rent Own Knowledge Base
What are the biggest questions on how to rent to own a home or condo? Rent to Own home questions, problems, or lease purchase issues No money down home purchasing, bad credit, debt issues, obstacles preventing home ownership that need to be overcome. What is the need for a rent to own home? I want to know why do people need them, the problems, concerns, or situations that make a rent to own home necessary.
How exactly do "rent to own" situations work? Do they function at all? My roommate and I are looking at a new rental, where the landlord is offering the opportunity to "rent to own" the property. It is a three unit (2 residential, 1 commercial) building. The commercial unit is a small studio/storefront. The Apartments are a one and two bedroom duplex. The property is in an ok area of town, and has a lot of potential. So, my question is about the rent to own process. How does it work? Have you ever heard of anyone actually renting to own and ending up owning the property?
How does a rent-to-own contract handle equipment failure? When you get electronics from a rent-to-own store (like Rent-A-Center for example), what happens if it stops working through no fault of your own? Is the renter liable for that? I have been thinking about getting a TV this way, but I want to know how this works first.
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