Rent To Own FAQs

Q: What exactly is your Rent To Own program?
A: If we choose you to live in one of our fabulous homes, you get to rent the house for a while and then have the option (not the obligation) to purchase the property.

Q: How much of a down payment do I need?
A: We required a minimum of 2% down for our rent to own homes. We have down payment assistance available if you can put a reasonable amount down now, and then make up the rest later.

Q: What is the criteria to be selected for your Rent To Own Home Program?
A: We use many criterias for selecting our Rent To Owner including but not limited to: the amount of down payment that you can come in with, the date that you can move, your income, etc.

Q: Will the down payment be counted towards the purchase of the house when I exercise my option to buy?
A: Yes

Q: What are rent credits and how does it affect my purchase price?
A: As part of our rent to own home buying program, we offer rent credits on each of our homes. For example, we might have a rent to own property for $895 per month with a $100 rent credit. For every month you live in that property before you buy it, you will build $100 a month in rent credits that can be used towards the purchase of the house. It's like building equity from day one. If you want to pay an additional amount over your rent, that is also counted as rent credit. Plus, we will also match dollar for dollar for what you pay over your rent amount. Your rent credits will build very quickly.

Q: How long is your Rent To Own term set for?
A: We normally set it for 2 to 3 years. That means that you have the option to purchase the property within those years.

Q: What happens if I like a house that I saw and I do not want you to show the houses to other people anymore?
A: You can place a Deposit to Hold on the property. You will need to fill out a Deposit to Hold form and provide a certified check (the amount can be negotiated but it's normally between $2,000-5,000). This will take the property off the market and no more showings for that property will be scheduled. The showings that have already been scheduled will still continue. We will process your application and if we decide to select you to live in the property, the Deposit to Hold money will be applied towards your down payment. If we select you to live in the property and you do not want the property anymore, the Deposit to Hold money will be NON-REFUNDABLE. If we do not choose you to live in the property, the Deposit to Hold money will be refunded back to you.

Q: Once I'm selected as a Rent To Owner, what do I have to pay upfront to move into the property?
A: Your down payment, security deposit equal to one month's rent, and the rent that you would owe for the month you are moving in on.

Q: I left a voicemail on the 24 hour recorded message but no one has called me back yet. What happened?
A: There could be a number of reasons. You might have forgotten to leave your callback number, you might have said the number too fast and we couldn't figure out what the number was, we might have called you but your line was busy, we might have called you and there was no answering machine, etc. Filling out the online form on this site will get your information to us as well.

Q: I have already given you information regarding the type of house that I want but I haven't received a call. What happened?
A: We might not have the type of house you were looking for at the time. For example, some people are very specific about what they want in a home. (3 bed, 3 bath, from 60th and Center to 84th and Center, able to pay $600 per month) The likelihood of this person getting a call is smaller than some who is looking for a (3 bed, 2 bath, from 60th to 144th, flexible anywhere southwest, able to pay $995 per month). Plus, people who are unrealistic about the type of house they can get for as little as possible will also get fewer calls. For example, if you're expecting a 4 bed, 3 bath, 2 car garage in west Omaha for $600 a month, you probably won't be hearing from us anytime soon.

Q: Will I know the purchase price of the house upfront?
A: Yes, the rent and the purchase price of the house will be given to you upfront.

Q: Do your Rent To Owners end up paying above market price for the homes?
A: No, it's actually the opposite of that. Our Rent To Owners are normally able to purchase below market value at the time of the purchase. This is one of the reasons why our Rent To Own home program is so attractive.

Q: How do you determine the purchase price of the home?
A: We do an estimate on what we believe the house will be worth at the end of rental term. For example, if we believe that a house will be worth $150,000 three years from now, we'll set the purchase price around $142,000.

Q: When is rent due?
A: Rent is due on the 1st of the month. We have a very strict "No Pay No Stay" policy.

Q: Why doesn't all of the rent that I pay go towards the rent credit?
A: We're in the business of helping people buy a home through our Rent To Own home program. We are not in the business of paying people to live in our homes and then lose money once we sell the properties. We have mortgage payments we have to make on our Rent To Own properties as well so it doesn't make sense for us to give the full rent amount as credit. Of course we could possibly do that and increase the purchase price of the home, but we prefer the way we have set it up currently.

Other FAQs

Q: How does your Owner Financing program work?
A: If you can put at least 10% down, we will owner finance you. Enjoy the tax benefits of owning such as being able to deduct the interest and property taxes that you have paid throughout the year.

Q: What are handyman specials?
A: Handyman specials are fixer-uppers that we sell cheap. Sometimes, we're too busy and do not have time to fix up a property so we sell it cheap to other investors or people who want to live in the property after they fix it up.