TCarea.com TCarea.com TCarea.com
Your Local Real Estate Source

Currently Available Lease Purchase & Rental Homes


 

Very low availability of area monthly rentals...... I am certainly biased, but this is just another reason why it makes sense for most people (if they are able) to OWN a home in Northern Michigan.

We will post ANY rental or Lease Purchase (Rent to Own) homes on this page free of charge - just email Mike the details. 

We also can provide full Rental Management or Tenant Screening for private individuals or investors - ask us for details.

Even if you just need a little advice regarding Investment Properties or Lease Purchase contracts, please feel free to contact us anytime.

 

  Rental and Lease Purchase (aka: Rent to Own or Lease Option) Properties

      Listings may be subject to change  

  Email Mike for a rental application or further info regarding any of these:   

 

Mancelona

$680 month with $2,200 due upon application acceptance. 1,600+ sq ft, 2 story home in Mancelona features 3 bedrooms, 2 living room areas, 2 full baths, a fully fenced-in backyard, kitchen appliances and a detached 2-car garage. Up to an 18 month Rent with Option contract possible to those that qualify with "workable credit." You must be able to eventually obtain a regular mortgage. Tenant/Buyer pays natural gas, electric and municipal water. Garbage pick-up included. Full application with references required - Dog considered.  216 E. State St available now. Applications for a straight rental also accepted.

There are other resources in the area as well. Our MLS system does allow rental listings, though few Real Estate Agents deal with rentals and there are usually not many rental listings within the MLS. See the MLS tab to take a look. If a potential renter takes the time to submit a full application that is approved, we can act as your agent regarding finding a rental.

 

Updated  9/24/2014


Lease Purchase/Rent to Own Programs


"Lease Purchase" otherwise known as "Rent to Own" or "Lease with Option to Buy" real estate contracts may be a creative and beneficial arrangement for both buyers and sellers given the right circumstances. There are very few situations like this in the region, however if a buyer meets certain criteria, sometimes a seller may be able to accept this type of contract. 

I have developed some "Lease Purchase" guidelines for those who wish to explore this option. 

 

These are the requirements and key ingredients to ensure success:

1)   Motivation, determination and patience on the part of the potential homeowner.

2)   Credit worthiness or the solid commitment to work on repairing credit.

3)   Financial ability (Income or future potential income) to afford the home and possibly work on repairing credit.

4)   Finding a property that can either be financed or repaired to become financeable (Note: bank repos will not qualify).

5)   Having a seller that can and is willing to participate in this type of contract.

6)   Willingness of the buyer to work with financial and Real Estate professionals.

 

What Buyers can benefit from a Lease Purchase?

Credit challenged Buyers who have had financial difficulties and lower credit scores but have the income to support the payment and are in the process of "getting in shape" to get a regular mortgage and need the time to do that.

Relocating Buyer - That can't obtain a mortgage until they sell another property.

 

 

 

 

 

Our Listings & Our Team  |  Thinking of Selling?  |  Free Property Analysis  |  Testimonials - Trulia  |  Mike's Articles & Stuff  |  Investor Info  |  MLS Listings  |  Buying Your 1st Home?  |  New Listing Notification  |  Short Sale Info  |  Lease Purchase & Rentals  |  Hiring Agents
Contact Me  |  Calculators  |  Listings
 
Privacy¬†Policy  |  Site Map  |  Profile  |  Sign In

©2006-2014 TCarea.com, LLC