|Put your rentals on automatic pilot and get the best tenants available
If you're tired of tenants trashing your home, making late rental
payments, and calling you at 1:00 in the morning because the toilet is
broken, you need to discover the benefits of the lease purchase
With normal rentals, more times than not, tenants will give their
landlord a hard time just because they can. It's time to eliminate this
problem once and for all.
Before we get into how to solve these problems, we must first discover
why you became a landlord. I would be willing to bet that your motivation
was making money, providing for a tax shelter, or both. Am I right? Sure I
But how much money are you actually making when you accidentally rent
your home to that "tenant from hell?" You know the one... three cars
parked on the lawn, constant loud parties, chronic late rental payments...
These things can be a landlord's worst nightmare.
With the lease purchase contract, your rentals will be riding on
automatic pilot and your tenants will thank you instead of create
Here's why... when you rent your home to a tenant on a lease purchase,
the tenant immediately has a vested interest in the home. They pay you a
large non-refundable option deposit that is yours to keep if they ever
default on the agreement. Essentially what is happening is you are selling
your home to them, you are getting a top sales price and you are getting a
premium rental amount. The length of the contract and other details are
all up to you.
Tenants who think like home buyers display several consistent
characteristics... They pay rent on time and fulfill other obligations,
they take care of repairs and other maintenance and they make improvements
to your home.
During the past three months, I have had just three phone calls from
all of my tenant/buyers. One of them gave me a courtesy call to let me
know that rent would be two days late. Another one (who is a carpenter)
wanted my permission to build a garage onto my house. And the last one
wanted to get the final details in order so she could buy the home from me
- just two months into our agreement!
Don't forget that since you are using a lease purchase contract, you
are entitled to get top sales price for your home, a premium monthly
rental payment and it will be sold/occupied in a short period of time. You
could take your profits and repeat the process all over again.It's
easy, it's automatic and the profits you generate will make your head
Jeff Beaubien, www.Lease2Purchase.com is the President and founder of Beaubien Investment Company in
Howell, Michigan. He specializes in creative real estate techniques, but focuses on the most
powerful technique of them all; the lease purchase contract.
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As a result of his success in real estate, Mr. Beaubien is the author of his real estate
course, The Lease Purchase Handbook.