The greatest benefit that sets this program apart from others
YOU PICK THE HOUSE
The initial term of the Lease is generally one year, and the Lease automatically renews every year as long as the resident is in compliance with the Lease and Right to Purchase Agreement. Each year, the resident has the right to give notice that he/she does not want to renew the Lease for another year. If for any reason the resident decides to leave the home at the end of a Lease term and is in compliance with the Lease, the full security deposit will be returned. The resident does not have to renew the Lease after the initial term. The maximum number of years of the Lease is five. Over the life of the Lease, subject to applicable laws, we expect residents to treat the home as their own, maintain the lawn and garden, and complete minor repairs.
The resident's Right to Purchase Agreement is in effect as long as the Lease is in effect, and the resident is in compliance with these two agreements. The Right to Purchase Agreement gives the resident the right to purchase the home from Investor at a pre-defined price for each year of the Lease, as long as the resident is in compliance with the Lease and the Right to Purchase Agreements. The Right to Purchase does not obligate the resident to buy the home.
The process form application to close usually takes about 25 days. The process is similar to any home sale and goes through an inspection and appraisal. You, the client will then have the opportunity to take posession around day 45.