We have just been approached by a landlord to find him a good buy to let with the sole intention of finding a Rent to Own. What are the advantages of this?
- Buy a property at todays value and have a RICS valuation, with a buy to let mortgage (there are some excellent deals around at the moment for buy to let products).
- Ask the RICS valuer to estimate the price for say the next 5 or 7 years.
- Take on a Tenant buyer who then pays the rent for the next say 5 or 7 years
- Sell on the property in 5 or 7 years at the pre agreed RICS projected valuation at a profit.
- Collect rent for 5 to 7 years (or however many years you have opted to have the agreement period).
- Not only do you have capital growth in the property from the date of purchase to the point of sale, you also have a constant rental income for the fixed period with no voids.
Come and talk to us to show you how this can work for you!