Renting a Home:
Finding a Home to Rent
Renting With an Option to Buy
In some cases you can rent a single family unit with an option to buy. This can be a very complicated arrangement. You will need to make sure that the lease clearly states all terms and conditions that affect your rights to occupy the property and your option to purchase it. For example, the lease might state that you can rent the property only until someone offers a purchase contract and it is accepted. Find out how much notice you must receive for moving out and any other conditions concerning your use of the property.
If you are interested in purchasing the home, you need to know if there is a time limit for making an offer, the conditions of the offer and what rent payments will apply to the purchase. If you are considering renting with an option to buy, you should seek legal advice from an attorney experienced in such purchases.
In addition to individual landlords and property management companies, you can check with local public housing agencies. These agencies usually have rent–to–own programs where part of the rent can be applied toward the purchase of the property.
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