Do not sell your own house! Put it up for Rent-to-own basis!

Are you struggling to sell your house or worried about getting a low price? Are you afraid of dealing with tenants if you put your house on rent –to-own basis? Then try using a rent-to-own or lease-to-own

marketing strategy.

The banks are also making it very difficult for people to get home mortgages even though low interest rates are available. In some areas like Chicago, families are hard hit by the recent economic downturn and most of them are trying to reinstate their poor credit scores. Landlords are finding it more difficult to get good enough money for their rental houses.

The solution to both of these problems is to use a rent to own agreement and to market the properties as “rent to own”. If you look at demand/supply statistics on Google for people searching for such “rent to own homes” then you will find a huge demand and very little supply of rent to own homes in Chicago especially. The laws of economics dictate that the owners of rental houses can make more profit if they can supply that demand.

Many people know about rent to own agreements. There is a standard lease with a refundable security deposit. The second contract is an option to purchase the property at a specified price within a specified time-frame. The potential buyer puts down a non-refundable option payment.

I have found a high demand for my property itself as I have put my own house up for rent to own. I have got tenants that take care of the house. Many people who need to sell their homes worry about tenants ruining the property and not paying their rent. With my strategy I get tenants with an “owner mentality”. In addition, I give the tenant a rent credit that they can put towards their down payment if they pay their rent by the first.

Now this strategy will not work if you own a very large house or an estate in LA. But if you have a house that is a medium range type property, it will give you great results. For more information on sell my house & sell house Chicago.