According to Stacie Edwards, a Leasing Agent for Klutts Property Management in Charlotte, N.C., “During just the last week, 60% of the properties that I rented were inspired by our new rent-to-buy program opportunities. The program offers real incentives that make a difference to renters.” “Many times our potential renters are very in tune to the options that property managers in the area offer,” adds Stacie. “When we can provide something that is unique and gives the renter a tremendous value, it really inspires them to choose us over our competitors.” Klutts Property Management participates in the Rent2Buy America™ program. As a participant, KPM advertises its vacant properties at
www.rent2buyamerica.com. As part of its advertising package, KPM can offer renters the option to earn a lender credit just for fulfilling the terms and conditions of their lease. This program is very unique and flexible in that it offers a
rent-to-buy scenario without financial, purchase and property obligations of typical lease-purchase programs. It costs no more than the payment renters would pay without the program and
obligates them to nothing. It provides options that can be applied at the end of the lease. The lender credit can be used when a renter wants to purchase a home. The purchased
property does not have to be the one the renter is living in. In fact, the purchased property doesn’t even have to be managed by the renter’s property management group. The lender credit can be applied to any home for sale in the US. To use the credit, the renter simply purchases a home through a Rent2Buy America affiliated real estate broker and lender. “The program opens up doors for renters, especially those with credit challenges who need a way to start over. This week, I was fortunate to help a gentleman who had made mistakes and damaged his credit,” Stacie adds. “Through a traditional purchase scenario, his interest rate would make purchasing out of reach. Through the Rent2Buy America program, KPM can help him. He can rent for a year and then purchase. In his case, he will purchase the home he is renting. The owner has agreed to sell him the house. The lender credit he earns and his good payment record for the duration of his lease will put him in a better borrowing position when he purchases. He will be able to afford a house that is adequate for his family.”
According to Stacie, the program creates a winning situation for each participant regardless of the property that is eventually purchased. The flexibility of the Rent2Buy America program enables the renter to earn an incentive, the property manager to fill a vacancy and the property owner to keep his property as a rental or sell it. The program is also applicable to other situations. For example, Rent2Buy America provides a valuable transition for those who want to rent for a year in a new city before deciding exactly where to purchase. Instead of “losing” a year renting, they gain an “investment” in their lender credit to apply to the purchase of the home they choose. “We’re seeing great results by putting leads in the hands of property managers and signatures on their leases. The program really helps put people into homes,” said Steve Adamec, president and founder of Rent2Buy America. “And that’s the true difference in Rent2Buy America’s value.”
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