The difference is all in the marketing. If you have a property in a low income area it should be marketed as a rent to own. If it is a moderate to good area you will want to market it is lease with the option to purchase....
But what the h*ll do I know? I have not done either yet, just read about it....
Fordecan makes a valid point. Yes, they are the same thing, however use the terms according to the market. For an el-cheapo tarpaper shack, your shills will be big dummies, use the term Rent-to-Own, "Lease/Option" may intimidate them (they are not sure what it means). On the other side of the coin, a fancier house in a fancier neighborhood will appeal to people with somewhat higher aspirations who view themselves mith more esteem. They may be marginally more intelligent that the previously mentioned group, using the term Lease/Option will add value to the offer. It sounds more pretensious.
Both Lease Option and Rent To Own are the same thing.
Dittto! No difference. Lease purchase, lease option, rent-to-own.
HB
Yeah, thats what I thought.
Thanks
The difference is all in the marketing. If you have a property in a low income area it should be marketed as a rent to own. If it is a moderate to good area you will want to market it is lease with the option to purchase....
But what the h*ll do I know? I have not done either yet, just read about it....
Fordecan makes a valid point. Yes, they are the same thing, however use the terms according to the market. For an el-cheapo tarpaper shack, your shills will be big dummies, use the term Rent-to-Own, "Lease/Option" may intimidate them (they are not sure what it means). On the other side of the coin, a fancier house in a fancier neighborhood will appeal to people with somewhat higher aspirations who view themselves mith more esteem. They may be marginally more intelligent that the previously mentioned group, using the term Lease/Option will add value to the offer. It sounds more pretensious.