RENT TO OWN

Rent-to-own is a way to buy one of our Tiny homes by renting it first. In this arrangement, some of your monthly rent payment gets applied toward the final purchase price. In effect, you’re making part of your down payment through your rent checks.
At the end of the lease period, you’ll have obligation to buy the home. At this point, you’ll need to get an acknowledgement from the us regarding the payments you’ve made and what will be applied to the purchase. Then (unless you’ve lots of cash) you get a mortgage, just like any other homebuyer.
The buyer/tenant then pays an upfront fee of 5% of the purchase price when signing the lease which goes as down payment.
Then, each month, the buyer/tenant makes a payment. A designated percentage of it is called the rent credit. We will put your rent credit into an escrow account to be applied to your down payment later.

LEASE-PURCHASE AGREEMENT
You pay 5% as down payment deposit at the time of the Lease-purchase agreement and a portion of your rent payments are credited toward the down payment to buy the home. With the Lease-purchase agreement the buyer/tenant agree to a purchase price ahead of time. You have an obligation to buy the home at the end of the lease. It’s a good idea to make sure you’ll qualify for a loan during your lease period, because you’ll give up your claim to the home and all of the rent credit you’ve accumulated if you fail to qualify for a mortgage at the end of the lease.