|
Option Fee |
2% of the value of the home (during summer months) |
|
Rent |
Market Rent (whatever you are advertising now) |
|
Rent Credit |
$200 to $500 (added to Market Rent) |
|
Purchase Price |
Market Value, Appraised Value or Set Value |
You can set these numbers. Your property will move faster if you set your numbers at a fair value.
Example: Your property is worth $300k
|
Option Fee |
$6k |
|
Rent |
$1,200 |
|
Rent Credit |
$300 |
|
Your total monthly income |
$1,500 |
|
Purchase Price |
Current Value + 1 Year Appreciation |
|
|
How does this compare to renting?
Example: Your property is worth $300k
|
RENTING |
LEASE PURCHASE |
| Refundable Deposit |
$1,200 |
| Property Manage Cost |
$120 |
| Estimated Maint. Cost |
$50 |
| Total Monthly Income |
$1,030 |
| One Year Income |
$12,360 |
|
| Non Refundable Fee |
$6,000 |
| Estimated Maint. Cost |
0 |
| Monthly Income |
$1,500 |
| One Year Income* |
$24,000 |
|
*This is assuming that a lease purchase tenant is found as quickly as a renter. A lease purchase tenant will take 4-6 weeks longer. Even if you factor this waiting period, you are still making much more. |
