Landlord’s Best Lease: No Tenants, No Termites, No Toilets, and No Trash

Posted on July 24th, 2008 | by John Glenn |

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The four T’s that are No Tenants, No Termites, No Toilets, and No Trash, the best ever option for landlord’s. If said honestly, these 4 T’s are just not something that most people want to deal with on a day to day basis.

There is one very attractive alternative to deal with these 4 T’s is to offer your property as lease-to-own. In this case, you can write into your contracts that the buyer is responsible for all maintenance and upkeep on the property. By doing it this manner, you effectively become the bank or the lender, and the tenant becomes the one responsible for the property, just as if they already owned it. So, when the toilet clogs at 3am they call their own plumber, not you, to come and fix it. And, they pay the bill for the repair as well.

So, in this option the main thing is the screening of the tenants in a very effective manner. When you are screening your potential clients for a lease-to-own property offering, it is wise to look at each situation individually and then come up with a decision on if you think that the person will be willing and able to make the purchase when the time comes.

Offering your properties as lease-to-own can be an excellent exit-strategy for investment real estate. By choosing your clients well, and by writing your contracts up to put yourself in the place of the lender, not the landlord, they can be a great way to go.