In today’s world, if you are a professional and are looking to get more business you understand the importance of generating and getting qualified leads.
A qualified lead is an amazing asset to have and really propels your business forward.
However, sometimes we also get leads that are good but people that do not qualify for a mortgage right now but have good income and down payment. They may have some credit issues/ blips in the past, are unable to secure a mortgage for themselves.
Is there a solution for these classes of people?
If you have worked with a client, say for example, to help them get them to a point to buy the house but after they actually apply for mortgage, you find out that they were declined. As a result, all the time and energy that you have put in them and also they have put in getting to this point seems a waste.
Is there a solution at this time?
The answer is YES! You can offer them Rent To Own program that offers the clients the opportunity to still enjoy living in the house that they have in mind or that they have selected, if they qualify in this Rent to Own program.
Very simply put, through this Rent to Own Program, they will be living and renting the house of their dreams and investors will buy that house for them, and after a certain set amount of time and for a set price, they have an option to buy that house from the investor.
The advantage of Rent To Own Program to professional:
- They get a chance to help their client even when their client did not qualify for mortgage.
- The professional can still continue to be a part of the deal by helping the investor to a get the house to the tenant-buyer.
- The professional may otherwise opt to walk away from the deal after handing over the tenant-buyer to us and collecting their referral fee.
The advantage of Rent to Own Program to the tenant-buyer:
- The tenant-buyer gets a chance to move into the house of their choice now without waiting for 2-3 years.
- The flexibility of this program is greater and hence the qualification process is easier.
- They can start building equity while they are living in their home.
The advantage of Rent to Own Program to the investor:
- The investor has a tangible real estate asset that is rented out to the tenant-buyer, who is more committed as is the future owner of the property.
- The investor has an exit strategy planned out as the tenant buyer is committed to buy the house.
- There is a good cash flow with renting with this Rent to Own strategy.
We have seen that Rent to Own may not be a main strategy to be used for professionals who are real estate agents/brokers or mortgage agents/brokers but its an amazing tool to have with you so that you are serving a wider client base and have options available for more client base.
We specialize in Rent to Own with of the most affordable and ethical Rent to Own program in Ontario. If you would like more details please write to us email@example.com