For those who may be ready to sell yet can hold onto a house that is ready for rental for a few years longer, the rent-to-own scenario provides some perks that make rent-to-own an option worth considering.
There is a large buyer pool waiting for these opportunities, seeking to attain the lifestyle that homeownership affords before they’re ready for a mortgage. Read on as we explore five benefits of selling your house via rent to own in Fort Myers
Equity
One advantage of using a rent-to-own strategy to sell your house in Fort Myers is the potential for increased profit through equity building. Here’s how it works: with a rent-to-own agreement, a portion of your buyer’s monthly rent goes towards the eventual purchase price of the house. Over the lease term, this accumulates as equity for the buyer, but it also benefits you as the seller. By the closing date, the value of the property itself may have increased, but you’ll still be guaranteed the original sale price agreed upon in the contract. Additionally, you’ll be profiting from the accumulated rent payments throughout the lease. This can be a significant advantage, especially in markets like Fort Myers where property values tend to rise steadily.
To help you understand the potential financial benefits in more detail, consider working with a local professional home buyer like those at Core Real Estate Properties. They can analyze your specific property and market conditions to project the returns you can expect from a rent-to-own sale compared to a traditional listing. This way, you can make an informed decision about the best strategy to maximize your profits when selling your house in Fort Myers.
Speed
You’re absolutely right that selling your house via rent-to-own can offer a faster financial turnaround compared to a traditional sale. Instead of waiting for a buyer to secure financing and close the deal, you’ll receive a deposit from the renter right upfront. This can be a significant benefit, especially if you need access to cash quickly to cover any ongoing expenses associated with the property, like taxes or utilities.
But the financial advantages go beyond just the initial deposit. With a rent-to-own agreement, you’ll also start receiving regular monthly rent payments throughout the lease term. This steady stream of income can help offset any carrying costs of the property while you wait for the renters to exercise their purchase option. This can be particularly helpful in situations where the traditional housing market might be slow, and you don’t want to be stuck holding onto a vacant property.
Rental Income
Much like squeezing the final precious drops of cash out of your house, with rental rates quickly rising, you could gain a significant boost in returns on the investment you have made in the house before finally exiting the property. Rental premiums, added to the monthly rent, are another benefit of selling your house via rent to own in Fort Myers. If the buyer exercises their buying option, the rental premium applies towards the downpayment. However, should the buyer fail to exercise the option, you’ll keep the option fee you charge for their down payment and the premium payments. Selling via rent-to-own to a professional home buyer like those at Core Real Estate Properties means you won’t need to worry about your buyer backing out or finding another buyer for your property down the road.
Property Management
Another benefit of selling your house via rent-to-own in Fort Myers is that, unlike typical rental properties, there will be minimal for you to do in the role of landlord other than receive your income. Therefore, you can design the contract to negate the impact of routine repairs and maintenance. Most of these expenses will fall upon the tenant, who will treat the property as if it was their own. Often, there is a top-dollar limit on the repairs for which they’re responsible.
Additional Savings
Another plus of rent-to-own sales, you won’t be paying the monthly mortgage and utilities you would be responsible for during a listing period on the market, saving you even more. Another of the benefits of selling your house via rent-to-own in Fort Myers, when you work with a local professional home buyer like those at Core Real Estate Properties, there are no commissions, closing costs, or hidden fees to come off your profits.
The local professional home buyers at Core Real Estate Properties are ready to buy – at your asking price via rent to own. If you’d like to talk to one of our seasoned pros about the benefits of selling your house via rent-to-own in Fort Myers, we’ll answer your questions or concerns with no obligation. The team at Core Real Estate Properties is proud of our work helping our neighbors here in Fort Myers solve problems, and we want you to feel good about working with us long after the closing. Call Core Real Estate Properties at 239-360-3176.