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Today, we're at our brand new location with some big news: our old location on Ellis Street will now serve as the storefront of our new rent-to-own division. Many people have asked us, "What is rent-to-own all about?" Today, we answer the question.
Rent-to-own, when done right, benefits both the buyer and seller. We are the only licensed brokerage that has entered this area of the market.
It works for people who are thinking about making a move, but bought their home at peak price and don't want to sell it for less than they bought it for. It allows them to price the home into the future, for market appreciation to take the value up to where they need it to be in order to sell it. Rent-to-own is also great if you're looking to rent your home, but are apprehensive about what could happen to your property - vacancies, small deposits in case of damage, bad tenants, etc. In this situation, you're renting to people who will take care of your home like it's their own because eventually it will be. From a selling standpoint, it makes sense - you generate cash flow with your home, you don't have to deal with the hassle of maintenance and management, and you have a solid deposit in your hand.
For buyers, rent-to-own is a great option if you can't afford to buy today because you can address whatever credit problems you might have and still have a place to live. It gives you time to get your credit in good shape and figure out your financial picture so you can buy down the road. It's a great opportunity to crystallize a future home price and get ahead of an inclining market, build equity, and get the feeling and experience of home ownership from the day you move in.
Rent-to-own combines quality buyers who for one reason or another aren't quite ready to make a purchase outright, and sellers who have an economic incentive to rent their home. The horror stories about these kind of properties are typically from situations where unlicensed people are entering into rent-to-own agreements - that's when things tend to go wrong. We pride ourselves on having an airtight, foolproof system to ensure these deals close and everything goes well for both the buyer and the seller.
Does rent-to-own sound right for you? We'd love to sit down with you and help you decide. In a short consultation, we'll hash out the pros and cons of your specific situation and determine what's right for you. If you have any questions you would like to ask before meeting with us or would simply like some advice on Kelowna real estate, don't hesitate to reach out to us. We're here to make your life a whole lot easier!
Rent-to-own, when done right, benefits both the buyer and seller. We are the only licensed brokerage that has entered this area of the market.
It works for people who are thinking about making a move, but bought their home at peak price and don't want to sell it for less than they bought it for. It allows them to price the home into the future, for market appreciation to take the value up to where they need it to be in order to sell it. Rent-to-own is also great if you're looking to rent your home, but are apprehensive about what could happen to your property - vacancies, small deposits in case of damage, bad tenants, etc. In this situation, you're renting to people who will take care of your home like it's their own because eventually it will be. From a selling standpoint, it makes sense - you generate cash flow with your home, you don't have to deal with the hassle of maintenance and management, and you have a solid deposit in your hand.
For buyers, rent-to-own is a great option if you can't afford to buy today because you can address whatever credit problems you might have and still have a place to live. It gives you time to get your credit in good shape and figure out your financial picture so you can buy down the road. It's a great opportunity to crystallize a future home price and get ahead of an inclining market, build equity, and get the feeling and experience of home ownership from the day you move in.
Rent-to-own combines quality buyers who for one reason or another aren't quite ready to make a purchase outright, and sellers who have an economic incentive to rent their home. The horror stories about these kind of properties are typically from situations where unlicensed people are entering into rent-to-own agreements - that's when things tend to go wrong. We pride ourselves on having an airtight, foolproof system to ensure these deals close and everything goes well for both the buyer and the seller.
Does rent-to-own sound right for you? We'd love to sit down with you and help you decide. In a short consultation, we'll hash out the pros and cons of your specific situation and determine what's right for you. If you have any questions you would like to ask before meeting with us or would simply like some advice on Kelowna real estate, don't hesitate to reach out to us. We're here to make your life a whole lot easier!
