We will execute an “Option to Lease Option” your property with a clause that allows us to sublet the property. We will then lease option the property, get all documents executed including the lease and option agreements and bank draft authorization, and collect the first month’s lease payment. We will then assign all of the documents back over to you and give you the first month’s lease payment. Our fee is the tenant buyer’s option deposit, which will be part of their down payment when they exercise their option and buy the home. In other words, you will still need to credit them that money at the end of the lease option term, only if and when they buy the home.
What is your involvement in collecting the rent?
We have no involvement in collecting the rent, other than to setup the bank draft authorization and get it executed and collect the first month’s lease payment at the time the lease is executed.
What is your marketing plan for my property?
The marketing plan involves professional marketing via more than 20 websites, including our own. Because of the volume of articles and press releases we circulate and the content on this sight, we are blessed with a high volume of traffic. Additionally, we will email blast your property to our growing database of prospective tenants. We have far more tenants than we have homes.
Why do you believe your contract is safer than what a Realtor would use?
They will want you to utilize the standard Realtor form which does not provide what you want and is a great way to get sued. Why? Their standard document provides an equitable interest in the property which means if you get a wise guy for a tenant, you will have to foreclose and then evict.
Another important point is that our leases are “triple net” with the tenant taking responsibility for all maintenance and repairs on the home. (After all, it is going to be their home.) Additionally, our tenants are required to pay for a legitimate credit restoration program. Our contract is structured to highly incentivize the tenant to purchase the home and provides the vehicle to ensure they are in position. We believe in our clients and are willing to help this become the turning point in their lives!
What are other reasons that you believe that I would be better enrolling my property in your lease option program than simply listing with a Realtor?
Not having ever been involved in finance or credit restoration, they have no way of knowing what it will take to put someone in position to get a mortgage. Our involvement in qualifying a client for our program goes far beyond having someone else give them a credit score. Our clients come to us because they WANT to own a home and they are willing to work to get one. Your tenant will be qualified with the same standards that we use for our homes.
Why do you believe you can find a better tenant that I could do on my own?
With a single property, you will most likely attract a career renter, which isn’t what you want. Career renters don’t exercise the option, destroy the homes, want to harass you at every opportunity about repairs, and generally want to pay less than your cost to carry the home. Our clients come to us because they are interested in our program. Very often our first contact is non-specific to a home. With a single or even several properties, it would be difficult for you to provide the same level of value to the tenants that we strive to do. This value allows us to attract a better caliber of tenant.
What do you mean when you say you provide “value” to your clients?
Well, for starters, we take their financial futures very seriously. Our contracts are truly set up to put them in a position to purchase the home. We also offer them opportunity to increase their income via our referral program. We are also one of the few companies to report lease option payments to the national credit bureaus!!! No on else does this. The purpose of doing this is to propel the credit restoration for the tenant and provide for an earlier takeout, and then provide you with a return as quickly as possible.