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Denver Rent-to-Own Homes and Lease Option Homes
Are you looking for rent to own in Denver? Here at Kenna Real Estate Group, we offer an exciting new rent-to-own program where you can lease with an option to purchase your own home. Kenna Real Estate Group is working with a fantastic Lease with a Right to Purchase Program.
It is easy to qualify for this program; all you need to prepare is:
- A minimum household income of $75,000.
- A minimum credit of 550.
- The deposit is equal to two months' rent.
- No evictions on record in the past year
- one Year Lease required
Here are some Perks & details of Renting to Own through own lease with the Right to Purchase Program.
You get to pick a house that is FOR SALE based on your approved rent in a community where they purchase, and you would get to rent that house. The investment firm buys the home, and you are only obligated to a 1-YEAR LEASE term at a time, with a right to renew your lease for up to 5 years*. You can purchase the home at any time for a pre-agreed upon price. I would love to tell you more. I can give you more info if you have a few minutes today. I hope we connect and your housing search goes smoothly.
Ready to find your dream home in Denver?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents.
I look forward to hearing from you! CLICK HERE FOR RENT TO OWN HOMES
How The Denver Rent To Own Program Works.
Here is the video To Explain More - https://thomaswallace.kennarealestate.com/rent-to-own. (If the Link does not work, copy the Link into a browser window.)
Total Cost Example Click HERE for more info. https://thomaswallace.kennarealestate.com/rent-to-own
Total Cost is the price Home Partners pays for the home, closing costs, make ready, and repairs/maintenance costs. Total Cost is used to determine the resident's Right to Purchase prices.
A sample of a Denver rent To Own home is highlighted below:
Home Purchase Price $200,000
Closing Costs Due at Closing * $3,000
Make Ready and Repairs/Maintenance Costs ( If Needed) $7,000
Total Cost $210,000
* Includes transfer taxes, attorneys' fees, title insurance, other acquisition costs, etc.
Ready to find your dream home in Denver?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents.
Rent To Own Monthly Rent Increases Slightly
Each year, a resident's Monthly Rent increases by no more than 3.75% over the previous year's Monthly Rent.
For example, if the Monthly Rent for Year 1 is $1,400 per month, the increase for the next year is $50/month (i.e., $1,400 x 1.0375)*.
Example of a Rent To Own Monthly Rent
Rent to Own Year 1 $1,400
Rent to Own Year 2 $1,450
Rent to Own Year 3 $1,500
Rent to Own Year 4 $1,560
Rent to Own Year 5 $1,620
Right-to-Purchase Price Increases
Each year, the Right to Purchase Price increases by 3.5%-5% (depending on the region). CLICK HERE FOR RENT TO OWN HOMES
Ready to find your dream home in Denver?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents.
In the example, if the Total Cost of the home is $210,000 and if the Right to Purchase increases by 5% (i.e., Prior Year Purchase Right Price x 1.05)*, then the Purchase Right Price for Years 1-5 is as follows:
Rent to Own Year 1 $220,500
Rent to Own Year 2 $231,500
Rent to Own Year 3 $243,100
Rent to Own Year 4 $255,300
Rent to Own Year 5 $268,000
There are additional costs that the resident will incur if they exercise the Right to Purchase, such as closing costs to purchase the home, including transfer taxes, attorneys' fees, title insurance, and the cost of a mortgage loan. As a result, total costs to exercise the Right to Purchase will vary.
Remember to click this link for more information and all the available homes. https://thomaswallace.kennarealestate.com/rent-to-own
303-955-4220 CLICK HERE FOR RENT TO OWN HOMESDisclaimer: Kenna Real Estate Group®does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. MLS IDX Information on the Kenna Real Estate Group® represent the opinions and ideas of the author(s) do not express the views of Kenna Real Estate Group® or those of the broker. Copyright® 2013 All Rights Reserved Kenna Real Estate Group®
