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put your rentals on automatic pilot and get the best tenants available.
By
Aug 10, 2005, 14:02
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If you're tired of tenants trashing your home, making late rental payments, and calling you at 1:00 in the morning because the toilet is broken, you need to discover the benefits of the lease purchase contract.
With normal rentals, more times than not, tenants will give their landlord a hard time just because they can. It's time to eliminate this problem once and for all.
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Before we get into how to solve these problems, we must first discover why you became a landlord. I would be willing to bet that your motivation was making money, providing for a tax shelter, or both. Am I right? Sure I am.
But how much money are you actually making when you accidentally rent your home to that "tenant from hell?" You know the one... three cars parked on the lawn, constant loud parties, chronic late rental payments... These things can be a landlord's worst nightmare.
With the lease purchase contract, your rentals will be riding on automatic pilot and your tenants will thank you instead of create chaos.
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Here's why... when you rent your home to a tenant on a lease purchase, the tenant immediately has a vested interest in the home. They pay you a large non-refundable option deposit that is yours to keep if they ever default on the agreement. Essentially what is happening is you are selling your home to them, you are getting a top sales price and you are getting a premium rental amount. The length of the contract and other details are all up to you.
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Tenants who think like home buyers display several consistent characteristics... They pay rent on time and fulfill other obligations, they take care of repairs and other maintenance and they make improvements to your home.
During the past three months, I have had just three phone calls from all of my tenant/buyers. One of them gave me a courtesy call to let me know that rent would be two days late. Another one (who is a carpenter) wanted my permission to build a garage onto my house. And the last one wanted to get the final details in order so she could buy the home from me - just two months into our agreement!
Don't forget that since you are using a lease purchase contract, you are entitled to get top sales price for your home, a premium monthly rental payment and it will be sold/occupied in a short period of time. You could take your profits and repeat the process all over again.
It's easy, it's automatic and the profits you generate will make your head spin!
Click here to learn How to Lease Purchase
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Buyincomeproperties.