Investing in Real Estate: Rent-to-Own House
This type of real estate investment is much like the house rental, but the tenant would eventually earn the ownership of the property. In order for the tenant to own the property, he would have to complete a certain duration of renting the house, or another way is to reach a certain amount of total payment. The price of rent in this type is higher than the regular house rental. One of the advantages of this investment is that the landlord is not usually responsible for the house maintenance since he is “transferring” the ownership to the tenant. The buyer would usually have to take care of the overall physical maintenance of the house. One disadvantage is the tenant’s lack of commitment in the rent-to-own type of rental. A bad case is if the tenant would not complete the rent-to-own and not take care of the house at the same time.
by: Vii