Rent to Own homes in Jacksonville FL questions and answers
How does rent to own work?
Here's how it works:
A home is made available via a standard lease with one important addition. Included is an option to purchase that home at a specified price over a specified time period (usually one or two years). In order to acquire that option, the renter/buyer must pay a one time, NON REFUNDABLE, fee called the option consideration.
What is an option/down payment, how much am I expected to pay?
Option money is an upfront non refundable payment. Option is right to buy home at a future date with fixed price.
Our Rent to Own program minimum option payment is $1,500. Option payment may vary based on home value, quality and area of town.
How does Rent credit work?
Rent credit is amount of money which will be credited toward home ownership every month.
In order to receive a rent credit you MUST pay your rent on or BEFORE the due date of your lease (typically the 26th or 1st of the month).
Our Typical rent credit is $100. Rent Credit may be as high as 20% of rent payment per month.
What are advantages of Rent to Own Program?
• Build equity toward home ownership.
• No bank or finance company involvement.
• Poor credit history may not be an issue.
How do you qualify for a Rent to Own?
• Total household Income has to be 3x's the amount of the rent
• No evictions or rental judgments in the last 7 years
• Employment Verification Required
• Credit Check Required
• minimum $1,500 deposit due with the application
(total deposit will be determined after credit is reviewed)
• Application Fee $25 for each person over 18 years old
Can You Do a Rent to Own Being Self Employed or a Business Owner in Jacksonville or other state?
It іѕ absolutely trυе fact that being self-employed іѕ doubtlessly one οf thе greatest achievements whісh ѕοmе individual саn hаνе іn thіѕ life.
Bυt іt іѕ worth mention thаt unfortunately self-employed people аrе typically getting thе brunt οf thе grеаt pressure іѕ іn regards tο opting fοr home loans.
Our Rent - to - Own program will allow self-employed people to enjoy lifestyle they want.
In order to qualify you will need to produce 2 year Tax Return and 2 year Profit and Loss Statement.
Can I do a rent to own after foreclosure or bankruptcy?
Yes you can do rent to own after 2 years after foreclosure or bankruptcy
Who is in charge of maintenance and repairs?
Tenant shall, at its own cost and expense, keep, repair and maintain all equipment and other personal property located at the Premises,
Landlord shall repair and maintain at its expense Structural part of the building as roof , walls and fundament of the Premises.
Maintenance is the responsibility of the Tenant Buyer. You are now renting to own and homeownership requires maintenance. This includes things like broken windows from stones or baseballs, clogged drains, peeling paint, broken appliances, burnt out bulbs, lawn work/snow removal, etc. If any major repairs are required to ensure habitability, the Landlord remains responsible.
Rent to Own and Credit Repair
If you are reading this you are probably already aware that bad credit affects more than just your ability to get a loan? Having bad credit means you are usually going to get the worst terms and pay the highest interest rates on any type of loan. Bad credit affects other aspects of your life also, like; your ability to rent an apartment or house, getting affordable insurance and even employment. If you are in this situation, you need to do something to get your credit (and your life) back on track.
Komelot Homes affiliated with best credit repair agencies in town to assure that our clients credit will be rebuilt promptly and accurately.
Credit repair strategy is not only removing negative items from your reports through filing disputes but also paying your bills promptly, keeping all of your accounts current, opening new credit lines and much more.
If you have any questions about Rent-to-Own Program give us a call : 904-588-5888
To see available Rent-To-Own homes visit : www.IkonRealtyLLC.com
To get notification about new Rent-to-Own homes coming to the market sign up for our buyers list at : Rent to Own Buyer List
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