Understanding the Basics – Rent to Own Process

Home prices are at an all-time high, rising by 2.9% annually since the recovery from the 2008 financial crises. Affording a house in the US has become increasingly difficult for all generations, whether they are still working or retired. For this reason, renting has continued to be a good option for many. In 2017, there were 9.2 million renters within the US aged 65 and above. Many are familiar with a traditional rental agreement where rent is paid by the tenant for the duration of occupancy. There is also something called rent-to-own which allows money paid to the owner to…