Tips For When You’re Selling With A Lease Option Deal

When you’re selling a home with a lease option, there are some things you’ll benefit from knowing and doing.  As always, time is important, as you want to get someone in there as fast as you can. This saves you money in the long run and can help the homeowners feel more relaxed about the whole process.

Here are some important points when you’re selling with a lease option deal:

1. Set The Monthly Lease Payment 10 Percent Above Market Rent

Do research on average rent in the market in your area and set your lease payments at least 10% more. This way, you’re getting even more cash flow. Potential tenants will be interested because they’re wanting to buy a home and more than likely can’t go to the bank for financing due to poor credit.

2. Put a Rent-To-Own Sign in the Front Yard

Don’t forget to put a rent-to-own sign in the front yard.  Research shows that signs in the yard bring in about 25 percent of renters.  This makes sense, as there are those who will drive by the home, see the sign, and inquire about it. These people may not have been checking Craigslist, so if that sign weren’t in the yard, they’d never know about it.

3. List It On Craigslist Often

Listing the home on Craigslist is probably a no-brainer.  Most renters looking for a home to rent will check Craigslist. When you’re listing the home, be sure that it’s actually listed.  Once you put in the necessary information, you’ll get an email from Craigslist saying that the home is listed. It will give you a link to where the rental is on the web.  You can click that link and check it out to be sure it’s what you desire, but also go to the front end of Craigslist and do a search for the home. Make sure it’s coming up there, because sometimes Craigslist will “ghost” a post, meaning it won’t show up on the main feed for one reason or another.  Sometimes this happens when people post from out of state. So, be sure you list it and then check on the front end to be sure it’s showing up.

4. List It On Facebook Marketplace

These days, many people are checking Facebook marketplace for rentals too, so be sure to list it there.

5. Use Bandit Signs

Bandit signs work great for getting potential buyers in your homes.  Place them at key spots in your local city and you’ll likely get some good leads from them.

6. List The Home With A Flat Fee Broker On The MLS

There are some brokers that will list your home for you as “Rent to Own” on the MLS for a flat fee. This is an excellent strategy.

Selling a home via lease-option is a great way for you to get a buyer in there and ultimately, make a solid return on real estate investments.  Take these tips into consideration as you move forward with your business.