What percentage of rent to own transactions result in a successful home purchase?
Although it is hard to find reliable statistics on the rent to own real estate industry, most experts would agree that purchase rates are very low, likely below 10%. The fact is, most tenants are unable to secure a home loan before the end of the rental period. This is generally the result of three primary causes: • Because landlords collect a large upfront deposit and a monthly rent premium, they are well protected in the event the tenant chooses not to purchase the home.
Related Questions
- Im planning to sell my existing home in one Ontario city and purchase a home in another Ontario city. Can I have both transactions close on the same day?
- Can I purchase a condominium home at Sunpoint and rent it until I am ready to occupy myself?
- Is the purchase price of the Rent to Own home negotiable?
