Step 1: Find a Lease-To-Buy Property
- Find out more about income requirements, restrictions (e.g., no pets or parking), general availability, and any special rates.
- Schedule time to visit—having a couple of options is important in case your first choice is not available or doesn't meet your expectations.
- Tour the neighborhood and surrounding areas; these details can help you reach an informed decision.
- Investigate what amenities may be included and what costs, if any, you may be responsible for as a tenant.
- Contact your insurance company to learn about renter's insurance.
Once you've viewed your selected properties and collected all the information you need, it's time to compare and decide what home is best for you! Someone from our property management deptartment will schedule you a consultation for an overview about the property, our expectations, and more. This will also allow you to get a good idea of what to expect from LEASE-TO-BUY HOMES®. A lease-to-buy agreement is an important contract, and you want to be sure you undersatnd its commitment between you and the lanlord/seller before signing on the dotted line.
Step 2: Application Submission
Now that you have chosen a property, thenafter we will correspond with our property management dept. to get your application submitted.
If you have a co-signer or plan on having roommates, they will also need to do the same. Essentially, every person planning to move in needs to fill out a
separate lease application form. Upon reaching out to property management we will thenafter send you a digital application(s) to complete.
Each form is different from the other, but expect a typical rental application to require the following information:
- photo ID
- full legal name
- current address
- phone number(s)
- employment and income information
- previous address
- pets (if applicable)
- emergency contacts
- background information
- landlord references
- personal or professional references
A $195 Non-refundable application fee per each tenant-buyer occupying property + $35 Non-refundable tenant screening fee is required.
(Each occupant is required to complete a applcation & undergo tenant screening). To begin, we will send an application to fill in via Docu-Sign.
(Bad/No Credit, Cash Savings, 24k & Up Annual Income, No recent Bankruptcies & No recent Evictions)
(Westcoast Resident PRE-Qaulifications): Poor/No Credit & Steady Income Required such as W2, 1099, Self-Employed etc.
(Bad/No Credit, Cash Savings, 95k & Up Annual Income, No recent Bankruptcies & No recent Evictions)
(Southern Resident PRE-Qaulifications): Poor/No Credit & Steady Income Required such as W2, 1099, Self-Employed etc.
(Bad/No Credit, Cash Savings, 41k & Up Annual Income, No recent Bankruptcies & No recent Evictions)
Step 3: Sign Lease & Move-In
Before you sign, remember this is a legally binding contract, which means you will be responsible for all terms of the agreement.Review the lease carefully—here's a checklist of items you'll want to confirm ahead of time:
- Term- How long is the lease and what are the terms (i.e., renewing the lease, terminating the lease early, possible penalties, renting from month-to-month, subleasing, monthly costs, etc.)
- Rent- When is payment due? Are there penalties for late payments?
- Utilities - What utilities (if any) are included and what are the monthly rates
- Maintenance - How is routine and emergency maintenance managed (onsite, on call, 24-hour availability)?
- Pets - What types of pets are allowed (if any) and are there any restrictions or required deposits?
- Miscellaneous - Are there any noise level restrictions? Decorating restrictions (e.g., painting, hanging pictures, etc.)?
Once you have completed all the steps above, you should be ready to move in to your new home. While this is an exciting time,
it's important to remember your future obligations. While you are living in the home, take the steps necessary to improve your credit
and get your finances in order so you can one day purchase the home and make it truly yours.