Rent to Own Agreements
Transitioning tenants into buyers is a great way to end the rental relationship with with your tenants and above all, just makes good business sense.
Many major real estate companies with property management divisions are already implementing similar arrangements with their rental residents.
This profit-generating secret is now out of the bag. But its really just good business sense. Its about meeting the needs of the customers and continuing to profit from the relationship as long as additional needs can be met. Why lose profits to others if you can continue to meet the needs of your residents? Do you see that you don’t have to limit your role in the relationships you create with your residents?
Real estate investing can be exciting and rewarding, especially when residents work with you instead of against you. Always end as many relationships as you can on a positive note. Even if your residents move, they will later refer others to you simply because they still feel good about the relationship.
By using your real estate knowledge to fully serve the needs of pour residents and/or their friends needs, you can make profits on both the front end and the back end of any rental relationship. You can continue this for a long time, if not a lifetime. The bottom line is that you can double or triple your real estate profits. I cannot stress it enough to all you property managers and landlords out there....always end your relationships on a positive note.