Here are some features and benefits for you if you are the landlord/seller and want to sell your house:

 High Sales Price in spite of low demand: More buyers are attracted because of the exclusive financial terms the seller is offering and the value of the house in due course.

• High Rent which is more than usual: As the seller is being flexible in financial conditions already laid down, the rent charged can be higher than usual.
• Non-refundable option reduces risk: When a deal is closed with a tenant/ buyer then they have to pay non-refundable option money to the seller. This amount cannot be refunded to the buyer in any condition. Additionally, no rent amount is refunded if the buyer defaults in between.
• No commissions given to realtors: Since you want to sell your house on rent-to-own basis, thousands of dollars which have to be given to the realtor on a 6% to 10% rate is avoided. Additionally, the house will get sold quickly due to the flexibility in the rent-to-own plan.
• Best Quality Tenants for the House: The tenants who will be interested in the property will be basically quality tenants interested in the house as they have vested interest in the house. They will rather think like they are homeowners and will take good care of the house. Anything untoward will be in their loss in the long run.
• No Maintenance, No Landlording: Tenants who are on rent-to-own basis think more like homeowners and hence they need not be coaxed to pay on time, maintain the house and make improvements to the house. Any carelessness on their part will result in their own loss.
• Tax benefits can be availed: Until the option is exercised, the tax benefits rest with the seller because it is mentioned in the deed.
• Exposure to a huge market of buyers: Not only traditional buyers, but renters and investors will also be interested in the property. They make up most of the people seeking buy properties, more than three-fourth of the interested people.
• No Long Vacancies: Advertising for renting your house would not be needed and notifying the relatives also can do the trick. The phone will be ringing continuously when you announce that the house will kept on rent-to-own basis.

Peace of Mind: You won’t have to worry about how to take care of the house, your tenants will because they have a vested interest in buying that house. You can sell your house and yet never have to fear of the danger of theft, vandalism, fire, or anything else. For more information, Landlords & Home Sellers visit selling house tips & sell your house fast in today’s market.

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.