Real Estate Investor - Now is the Time to Educate your Rent to Own/Lease Option Tenants
- According to a recent survey by the National Foundation for Credit Counseling (NFCC) almost a third of the people surveyed felt that
home ownership was no longer a possibility for them. Nearly ¾ of people who had never bought a home said that they could benefit
from some education before they bought their first home. People are finally realizing that buying a home is a complicated process and
that they would like more information on how the whole process works before signing a contract.
What are you doing to help your lease option rent-to-own tenants understand the buying process?
Advertising:
Are you making the financing options part of your advertising? Lease Option is a great term, if your audience understands it. Make
sure you use rent-to-own someplace in your ad to clarify what you are talking about in layman's terms. Do you offer to your potential
tenant help with their credit situation or are they left on their own to figure it out? My Lease Option Cash Out Program (include link to
product page) is designed to lead your tenant, step-by-step through the many phases of credit score improvement so that they can
cash you out at the end of your lease. I will even hold their hand through the entire process if you chose the Success Coaching option.
The Deal:
Have you included a credit improvement strategy incentive in your deal? Adding a clause that offers them a credit improvement
program can significantly increase your cash out rate at the end of the lease. Each situation is different and results are dependent
upon the tenant's commitment to the program therefore you cannot guarantee to improve anyone's credit. However, you can offer a
path for them to follow that will significantly increase the likelihood of their qualifying for a mortgage sooner than if they did not
participate. Properly written into a contract this can increase your cash out rate.
An educated tenant is more likely to perform than one left on their own. Many folks who are candidates for a least option are in some
kind of credit related difficulty. Your offer of both a rental they can afford and the hope of improved credit will significantly increase
your numbers of potential tenants.
Credit Article by Linda Adams - The Clean Credit Queen
Good Day and Good Credit
- Learn more about the products and services offered to real estate investors that can help take the load off in educating your tenants
on credit. There are free and paid teleseminars, workshops, and the Personal Credit Builder System (home study and coached)
Get more details about personal credit education for your tenants from the Products Page.
| Helping Real Estate Investors, Small Business Owners, and Regular Consumers Find Solutions to Credit Challenges |
| Linda Adams - The Clean Credit Queen™ |
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Linda Adams, The Clean Credit Queen is not a registered investment advisor and the information provided on this website should be considered educational in nature, but it is not a substitute for legal or professional financial advice. If you believe you need the help of a Certified Financial Planner or other investment counselor, please seek a qualified professional. |
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