1. What if I don't have the entire purchase option fee?

In many cases a house can be held for a period of time with a non-refundable deposit. A payment plan can also be agreed upon for the unpaid portion of the purchase option.

2. What if I move in and discover something is not working?

Renewing Properties is fully responsible for the functionality of the home for the first 30 days of occupancy. If something should go wrong, give us a call and we will take care of it.

3. What if the property requires a major repair during the lease period?

If there is a repair needed to your electrical, sanitary, plumbing or HVAC System after the first 30 days of occupancy, Renewing Properties will perform the repair and add the cost of the repair onto the purchase price of the home.  This will allow you to live within a defined budget during your 3 year lease option.

4. What if I cannot obtain traditional financing at the end of the 3 year period?

Usually we are able to do an extension of the lease agreement; although the lease payment and purchase price will reset to current market conditions. The down payment earned by the resident will be retained if a new agreement is made.

5. What if the home appreciates over the 3 year lease period?

Any appreciation on the home will be retained by the purchaser. If a $100,000 home appreciates at 4% per year for 3 years, the actual value of the home would be $112,486 which would be "instant equity" for the purchaser to realize when buying the home.

6. If I have a larger down payment, could my payment be reduced?

Absolutely! Many of our buyers have made substantial down payments that have allowed them to reduce their monthly payments to a more comfortable level.