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.
Normally, Nesbitt Realty charges a small percentage of the rent that is collected, and that is why landlords confirm that our fees are some of the lowest property management fees in Northern Virginia. The duties and responsibilities of your designated Nesbitt Realty property manager is outlined in the contract that is ratified by both Nesbitt Realty and the landlord. Our property management agreement is legal and recognized as it was prepared by the Northern Virginia Association of Realtors staff attorneys. This is a standardized agreement and it details the financial responsibilities, and it also specifies the types of financial reports that a landlord may expect.
