If you have become interested in property lease options and rent to buy as a prospective homeowner, then you might be wondering just how you can make your dreams a reality. If you cannot find a suitable property already on offer with a lease option, then you should consider suggesting a lease option to your current landlord or to those advertising properties you are interested in. Use these tips to put your best foot forward.
Know Your Facts
When speaking to a landlord about property lease options you want to be sure that you have all the facts at your disposal. They will very likely have questions about just what a property lease option is and how it is carried out. Make sure you can answer these questions and can point them towards further information or you may seem unprepared, meaning they could take you less seriously.
Explain the Benefits
You have probably focused your research on what it is that a property lease option can do for you. No doubt you could talk for hours about why you want a lease option, how you will benefit from it and just what a great deal it is for renters. However, if that is all you have to say to your landlord you may not get very far! After all, if your rent was reduced to £1 a month, that would be a great deal for you but your landlord would not be very happy. Make sure you know why a lease option is a good deal for your landlord, and focus your conversation on the benefits to her.
Make it Personal
This doesn’t mean you should talk about your personal life, it means you should tailor your approach to the circumstances of the landlord. For example, if you notice that a property is re-advertised every 6 months, focus on the benefits of having a long-term lease with a responsible tenant. If property values are projected to fall in your area, spend time discussing the value of a fixed sale price at the end of the lease.
Lease options are often a great idea for both renters and landlords alike, and suggesting the option yourself can allow you to find the property of your dreams. We would be delighted to assist you if you and your landlord want to take things further. For more information and to get the ball rolling click here to email us.