estate agents for rent::How does this arrangement work, and where do i find them estate agents for rent

estate agents for rent::How does this arrangement work, and where do i find them?
Usually, a portion of your rent over a specified lease period goes toward your eventual down payment.
Typically, a tenant would pay slightly abovemarket rent over the lease period, usually from one to three years, for the right to enter into this arrangement.
Such an option usually expires at the end of the lease.
In other words you must exercise the option before the lease expires.
In some leasepurchase agreements, you are contractually obliged to buy at the end of the lease.
Sellers and agents now often use the two terms interchangeably.
But whatever name they attach to the arrangement, make sure you have the option.
The arrangement gives you more time to think about the deal plus provides a builtin structure to save for your down payment.
It also allows you to discover any flaws in the home that may not have been detectable on an inspection and to get a feel for the neighborhood without committing to a longterm mortgage.
In that event, you would lose your option money in the form of an upfront fee or added rent and any deposit you made.
On top of that you would have paid a higherthannormal monthly rent.
In areas where real estate values are quickly rising, locking in a purchase price on the day you sign the initial renttoown contract could be very profitable for you.
If appreciation is significant during your lease portion, you come out smelling like a rose.
Another potential disadvantage is that you may be obligated to tend to repairs and maintenance throughout your lease stage, instead of the landlord.
Under most leasetobuy contracts, any money or sweat equity you put into major improvements will not be reimbursed in the event you eventually opt out.
Where do you find renttobuys?
Most real estate sales agents and real estate rental agents have listings.
Or, if you see a rental home that you really like, just ask the leasing agent if the owner might be agreeable to a renttoown arrangement.