Frequently Asked Questions
LANDLORDS / OWNERS
Q1. Why don’t I just keep listing my house with a Real Estate Agent?
Is it a good option, remember an Agent will NOT pay your mortgage, rates (Council Tax) and insurance for you while they are marketing your house. They will NOT take care of any Bills, Maintenance and/or Repairs in you void periods either.
Q2. What if the tenant damages or destroys my house?
The objective is not to find a tenant, but rather a buyer who will eventually own the house.
Damages are rarely a problem. In fact, buyers who have ‘owner’ mentality almost always make improvements.
Q3. When will the tenant buyer want to buy?
It will be their decision within the time frame they have. However if you have to meet certain criteria i.e. you
don’t want to incur bank-fees for selling before your fixed term mortgage expires, you can negotiate this into the terms and conditions.
Q4. What if I need a new mortgage?
No problem provided you meet the lenders criteria. You can have more than one mortgage in most countries.
In some cases lenders allow a credit for the lease payments on the old house towards the new borrowing ratio.
Q4. What is the difference between just renting my house out and the Rent-to-buy / Lease Purchase system?
There is a huge difference! You are not dealing with regular tenants but prospective BUYERS. You must be willing to sell when they are able to buy.
Lease Purchase buyers are required to put up a non-refundable option consideration that is to be applied toward the purchase of the property.This serves as an ‘insurance policy’ against non-performance as well as any possible damage to the property. This amount pretty much assures that they are serious buyers, not just renters. They must have ‘owner’ mentality to qualify for your home. This makes a big difference as to how they treat your home. They have a lot to lose if they abuse their opportunity.
Q5. What if something happens and the buyers do not go ahead with buying the house?
This rarely happens as the new buyers stand to lose a great opportunity, all their work and the money they have put in. But if it did happen your house has improved and you have had all the payments/repairs and maintenance taken care of. You will just re-advertise and get a new option consideration from the next tenants.
If you are interested in a quick solution for your house issues or have any questions, please contact us on