Rent To Own Free Listings offers credit repair and tenant screening services specializing in Lease Purchase transactions. This site was designed to serve Real Estate Investors (sellers) and Tenant buyers. We’ve put together the following information to answer most questions that property owners and sellers may have about Lease Purchasing.

What is a Lease Purchase?

Lease Purchase is simply a lease agreement with the option for the tenant to purchase the property. The tenant/buyer makes monthly payments, and a portion of those payments may be applied to the price of the house. The Lease Purchase allows you to have your mortgage paid for, plus have extra cash flow every month in many cases.

How do I get my asking price?

You are offering the tenant/buyer a set price at some future date. They are willing to pay a premium for your home since most of the time they are unable to qualify for the outright purchase of your home at this time. Terms are usually more important to the tenant/buyer than price.

What are the costs for the Tenant / Buyer for the use of this site?

Zero, this is one of the reasons it has a large volume of traffic.

How much am I going to be charged?

The only cost you incur are the costs of your listings. See our seller membership page for options.

If you elect to use the or services they are separate services and would be charged according to usage.

How is the marketing done for the tenant/buyers?

We are always marketing for tenant/buyers. They come to us from other industries such as automobile dealerships, attorneys, bankers, mortgage application denials, driving by our houses, customer referrals, or finding us on the Internet.

How soon can the tenant/buyers normally get a mortgage?

Every case varies some, but most tenant/buyers that come to us can actually qualify within 6 – 18 months. If the tenant/buyers need to have discrepancies on their report corrected or removed, we require that they begin the process with My Credit Team before they are able to move in. The seller can follow along with the process by logging on to the tenant/buyer’s credit restoration progress screen for the entire time he/she is enrolled in the program. My Credit Team can also assist in finding a mortgage lender who has a wide array of programs. Also MCT will work with the mortgage specialist to ensure the buyer’s credit report is pulled when their score is at a high point.

Why should I use the tenant screening service?

Other tenant screening services are for just that “tenants” not tenant/buyers. They have no provision for preparing the tenant for a purchase transaction. Every seller financing transaction signed after 1/10/14 needs to be in compliance with the Dodd-Frank Act to protect yourself and your company. We will help you comply by assembling pertinent information for each lease purchase tenant. With our service you will receive:

  1. ​​Verification of Income
  2. Credit Report
  3. Credit Analysis
  4. Debt-to-Income evaluation
  5. Background Check
  6. Megan’s Law Check/National Sex Offender Search

The two which distinguish this service from tenant only screening services offered by our competitors are verification of income and credit analysis. Verification of Income gives you the comfort in knowing the tenant/buyer can afford the rent and future mortgage payments. Credit Analysis includes a credit expert looking at the likelihood a person’s credit score will be mortgage ready in the future given enrollment and completion of the restoration program. It includes standard disclosures including but not limited to them following our instructions to rebuild credit.