With more than 25 years experience and hundreds of deals completed, let the pros at Tenants & Toilets show you how you can complete a lease purchase deal for yourself. Cut out the middleman! We help homeowners maximize profit and minimize the hassles often associated with traditional sales and rentals. You’ll receive:
No long, frustrating phone menu when you call us. Your email isn’t going to the inbox abyss, never to be seen or heard from again. At T&T, we provide the exceptional service we want to experience ourselves!
A lease purchase is an agreement between the seller, (the homeowner), and the buyer, (the tenant/buyer). All terms are negotiated and agreed upon in advance. The homeowner receives nonrefundable money upfront; a top of the market rent; and a top of the market selling price. Your tenant/buyer can purchase the property at any time during the lease, which is usually 12 months. During that time the tenant/buyer is responsible for all maintenance and repairs. We’re not kidding when we say, “Just say no to tenants and toilets!”
When the option to purchase is exercised the sale proceeds like a typical purchase and sale agreement, with two noteworthy exceptions: there is no Realtor involved, saving the homeowner a substantial amount of money, and most agreements make the purchaser responsible for the bulk of closing costs, further saving the seller money.
Some of the many benefits include:
1) No haggling over dimes and dollars. Top of the market selling price, even in a buyer’s market.
2) No Realtor’s commissions.
3) Rental income every month.
4) The majority of the closing costs are paid by the buyer.
5) Tenant/Buyers rather than tenants. They treat the property as if it’s theirs because one day it will be.
6) Large, available market of tenant/buyers at all times.
7) No Tenants and Toilets. The majority of repairs and maintenance are the responsibility of the tenant/buyer.
8) You retain title and tax benefits until title is transferred at closing.
That’s a function of marketing and pricing. Price your house correctly, get the word out effectively, and the tenant/buyers will contact you.
Easier? Certainly. But the cost of sitting on your hands while a Realtor lists your house is an expensive luxury. Review the comparison chart on our home page.
You decide. Typically, it’s a 12 month lease. But the tenant/buyer can exercise their option to purchase at any time during the lease. If it suits you, a longer time frame is possible and, in many deals, preferable.
The same as if you were selling your house in a traditional manner. At your attorney’s office or a title company. They handle all the details.