Answers by Kathleen Heady

Hi Darly, There are some benefits to do rent-to owner which include attracting long-term tenants, consistent income, reduced maintenance costs as many rent-to-own agreements will shift some maintenance responsibilities to the tenants, reducing your costs and upkeep in the property. May receive higher purchase price, rent-to-own agreements often set a higher sales prices compared to the current market value, easier sale process when the time comes, in a slow market can attract tenants who may not qualify to buy but aspire to homeownership. The cons the tenants may not purchase the home at the end of the lease, legal and financial complexity as rent-to-own agreements require careful drafting to ensure they are legally sound, property depreciation can also happen if market conditions change or tenant neglects the property decreasing the property value.