Deposit On Lease Or Rent To Own
What percentage or formula do you use on a lease to own property for deposit and for monthly rent increase to save for buyer?
What percentage or formula do you use on a lease to own property for deposit and for monthly rent increase to save for buyer?
rmontre,
For me it depends on the property. The type of property, location, and the market you are in determines the deposit, and the amount of PITI you are paying the original seller as well as the factors I mention above will help to determine the monthly payments.
I usually charge between 3-6% depending on the property.
Prosperous investing,
td
For me it depends on the property. I usually try to get 5%.
I get what makes sense to me and the tenant. If a better quality tenant has less than the lower quality guy, I'll go with the better tenant every time.
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