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Can you share any tips about doing lease options, to be more specific...?

About finding & qualifying good tenants, advertising, the terms to offer, etc...Any ideas & info is appreciated.

Public Comments

1. Generally, lease options tend to be tricky transactions. My experience has been that the seller of the property (the potential landlord) will request a rather large deposit to secure the property and then will work out a purchase agreement that includes a rental period. If the tenant then chooses to not exercise the right to purchase, they lose their deposit and none of their rent is applied to the purchase. I don't think that these are particularly good deals for renters (potential buyers), but some people are in situations that this is the best option for them. Sellers could in the past just sell their homes ... now they need to be a little more creative. I would definitely suggest that a Realtor who understands the process be involved to make sure that nothing is missed.