Home owners who have been trying to sell their properties for a year or more might consider lease or a rent-to-own option.
A lease option agreement gives the tenant the option to buy at a predetermined price for a rent that is slightly higher than market. In a lease purchase, a buyer commits to buying the property. In exchange, the seller credits a percentage of each payment toward the purchase price.
Either arrangement is likely to attract serious renters who would like to buy the property if they can. In exchange, they’ll take good care of it.
Negotiating these agreements can be tricky, and the owner should always get help from a real estate professional.
What does a property manager do?
The property manager’s primary role is to interface directly with applicants, tenants and maintenance people. A good property manager will save you time and worry by keep your property producing income while maintaining the value of your investment. The property manager will handle:
- marketing your rental,
- collecting rent in a timely fashion,
- maintaining a record of all income and expenses,
- handling maintenance and repair issues,
- responding to tenant complaints,
- knowing when to draw the line,
- and even pursuing evictions.
Nesbitt Realty has the know-how and experience to manage your property, giving you the peace of mind that comes with knowing your investment is in good hands.
We’re here when you need us.