Frequently Asked Questions For IdealHomeForYou.com (FAQ)

Here are some of the questions we get asked about our properties, services and we have on this website:

• What does “Rent to Own” actually mean?

• What is the rent-to-own process?

• Do the furniture or appliances stay with a rent-to-own home?

• Is bad credit okay? Can I qualify for a rent-to-own property?

• Is there an option payment or down payment on a rent to own house?

• What are the pluses to a rent to own home?

• What will I need to have in order to get into a rent to own house?

What does “Rent to Own” actually mean? 

When signing a rent to own agreement, you are making an agreement regarding a certain property that works similarly to a lease, which often in the long-term leads to the purchase of said property. It is also called ‘lease with an option’ or simply ‘lease/option agreement’. This deal is mostly similar to that of a regular lease but with an additional option for you to buy the leased property after some time.

Rent-to-own agreements are highly prevalent in the United States and Canada. For example, in 2006 over 6 million Americans purchased their homes through rent to own agreements. Rent to own agreements are also common in Canada, with nearly 2 million rent to own agreements are often referred to as “lease with an option” or “lease/option agreement”. Such contracts are essentially leases that culminate in a purchase of the property. They provide a convenient and more financially feasible alternative for those looking to buy properties. units renting out through these types of arrangements that same year.

The rental agreement covers all essential areas such as monthly rent, security deposit and other applicable terms &conditions related to the lease. This ensures that both landlords & tenants have a clear understanding of the agreement.

The contract provides you with an option to purchase the property after a pre-specified time period, typically 3 years. During this period, you can save up money for down payment, work on improving your credit history, raise your income or make other improvements to boost your chances of getting a mortgage loan.

When it comes to buying property before the option period has ended, traditional mortgage loans are the most common choice. However, there are other sources of financing available if your financial circumstances require it.

We’re proud to assist customers like you in realizing the goal of becoming homeowners and giving them the chance to own their dream home.

Complete the form below to begin your journey of owning a home!

What is the Rent to Own process?

The process of renting with an option to own is quite uncomplicated and straightforward..

After viewing one of our remarkable homes, you’ll have the chance to complete an application form. There’s no need to be worried either – we strive to assist people with diverse credit & financial scenarios. So if you can manage the cost of the property, chances are that our specialists can guide you towards owning it.

Once you get your rental application approved, simply sign the lease, pay the required fees & rent – and you can start living in your new home!

The lease/option agreement (also known as rent to own contract) will clearly mention the time period you have to make the final purchase of the property, which is usually three years but we may extend this if you need more time.

Buying a home usually involves getting a mortgage loan, yet there are different other options available depending on your financial standing.

That’s the process!

Finishing your mortgage is the first step to owning your home! To find great properties in Utah, just sign up and complete an easy form. After that, you can start the search for your perfect home.

You’ll get immediate access to great rent-to-own homes, plus a whole lot more.

Sign up and get started now!

Do the furniture or appliances stay with a rent-to-own home?

Generally, furniture is not included when you sign a lease/option agreement to purchase a property.

Homeowners can expect the basics when renting out a property – think a fridge, stove, oven, etc. Additionally, most of the components or fixtures attached to the house – such as heating and air conditioning – come with it too. For extra convenience, some rentals can also come with appliances like dishwashers and washers/dryers.

Generally, real estate properties are sold unfurnished. That is because buyers usually already have their own furniture from their previous home. However, if requested, we can include a few furnishings in our offer.

If you’re looking for furniture or appliances and can’t buy them right away, there are many rent-to-own companies available that offer a wide range of styles and types.

But be careful!

Rent-to-own real estate provides a great value and convenience, but be careful of fraudulent furniture companies who might exploit this. They could overcharge you and make you pay multiple times the original purchase price. To avoid such issues, always buy items outright instead of opting for rent-to-own agreements.

Unlike most investments, the worth of such appliances will likely diminish over time. On the other hand, real estate is usually known for increasing in value with time.

It’s wise to make sure that your money is used for an investment that will appreciate over time, such as a house, instead of paying high-interest for new furniture.

Don’t hesitate; fill out the form at the bottom of this page now to take your first step!

Is bad credit okay? Can I qualify for a rent-to-own property?

Absolutely! Despite having a poor credit score, many individuals still have the chance to own a home through the rent-to-own option.

No matter the background, we are equipped to help those who previously encountered financial hardship or made errors in the past. We specialize in fixing credit & getting individuals on a successful financial track for the future.

Even if you have poor credit, you can still become a homeowner! There are many options available to help make home ownership possible. Don’t let bad credit keep you from realizing your homeownership dreams.

Rent-to-own is a great option for people looking to buy a home with bad credit. You get to enjoy the perks of living in the house & saving money while your credit rating is being restored, and you don’t have to wait until it’s perfect in order to purchase the home.

Don’t miss out on this amazing opportunity – simply complete the form at the bottom of this page to start your path towards achieving your dreams!

What are the pluses to a rent to own home?

Rent-to-own agreements are advantageous in many ways. These types of arrangements offer flexibility and convenience to both landlords and tenants, while providing financial security to the tenant with an opportunity of ownership in the future.

Utah has seen a surge in the use of rent-to-own agreements as an effective way to get into a home without having to worry about strict bank loan requirements. It’s become an increasingly popular option among smart buyers who are looking for the perfect place to call home.

Recently, banks have become more stringent with their loan requirements, making the process of applying for a mortgage difficult for many. A rent-to-own deal is thus beneficial for those who need more time to prepare and meet the criteria for qualification.

Rent-to-own agreements offer several advantages – they provide flexibility, convenience, and a clear payment structure. Additionally, you have the option to own the item after making all of the required payments.

• Try before you buy! Renting a home first before buying it is an excellent option for those who want to ensure that the house they are purchasing is actually their dream home. You can live in the house and, if you don’t end up liking it, you can walk away without having to complete the purchase.

• Own without great credit or a big down payment. By taking the steps to become a homeowner, you can experience the feeling of being one right away while still saving up and boosting your credit.

• Privacy. Until the closing of your purchase, you will remain anonymous and won’t appear on any public records, giving you years of privacy.

• Profit from home appreciation right away. In Salt Lake City for example, it’s not uncommon to find homes that are worth more than what you’re investing in when making the purchase. This can mean a considerable financial gain over time!

• Move in fast. You don’t have to wait around to get a mortgage, so you can move into your new home quickly and start living the life you’ve always wanted! No need to delay your plans for the house of your dreams.

Now is the time to take action – don’t delay! You can get started by filling out the form at the bottom of this page.

Is there a down payment on a rent to own home?

The answer, it depends some will need it and some won’t depending on your credit!

No down payment is required when you first move-in and sign the rental agreement, however there will be a fee. This payment is typically due after 3 years of purchase.

In addition to the move-in fee, there may also be a security deposit and a small application fee required when signing a lease agreement in Utah. However, you won’t have to worry about paying any money upfront as the sum can be paid out over the course of the lease. Although, don’t forget to bring some cash with you as rent will still need to be paid monthly.

An alternative to traditional home buying is a rent to own option, which can help you build up substantial savings that you can then use as a deposit on your home. This way, you’ll have less money out of pocket when making the transaction.

Our team is experienced in structuring the ideal scenario for your particular situation. We’ll provide you with rent-to-own calculators and formulas to help you devise the best plan, and can guide you in making the right decision that suits your needs.

Do not waste any more time, take action now by completing the form at the bottom of this page.

What will I need to have in order to get into a rent to own house?

Each individual, household and situation is unique in its own way, so it’s important to approach them with an open mind.

Our goal is to provide you with the necessary tools and resources to make your home ownership dreams come true. We strive to assist you in discovering creative solutions that will make it happen!

After exploring the house, you’ll need to fill out a rental application, which would include specifics about each of the occupants living in the household.

For all adults in your household, we’ll run a credit check and verify their income to make sure you can afford the monthly payments.

People from all backgrounds – even those with bad credit, no credit or limited cash – can still take advantage of leasing and purchasing real estate. This offers a great way for anyone to find their ideal property.

We truly value relationships, so we like to take the time to speak with your references and previous landlords rather than just relying on computer-calculated scores.

It brings us immense joy to help you accomplish your goals, so don’t hesitate – fill out the form below and start your journey!

See Available Utah Rent To Own Homes >