Things To Look For When Renting To Own A Home In Quakertown and Surrounding Areas PA

Renting to own a home in Quakertown and Surrounding Areas, or any city for that matter, isn’t a new concept… but the whole process of “renting to own a house” is a process that most people have questions about.

Well, you’re in the right place!

This article will walk you through what to look for if you’re looking for Quakertown and Surrounding Areas rent to own houses.

1. Find The House You Want To Live In Long-Term… Not Just Rent

A lot of people who are deciding whether they should just rent or “rent to own” look at the whole rent to own / lease option process in the wrong way. Don’t look at it like you’re looking for a house to rent for a little bit.  Of course, you should find a house that is one you’d love to live in for a longer period of time (no less than 5 years).

Why?

Because with rental houses, you know it’s a temporary thing… so you’ll settle for a house that is less than ideal.

But since you’re really looking to get a house to live in for years and years with a rent to own… it should be one that you can see your family in for years.

Yes, you’re renting a “rent to own” house… but you should choose a house you’d be glad to live in for years just in case you do exercise the purchase option at the end of the lease term.

2. Terms That Fit Your Goals And Needs as A Quakertown and Surrounding Areas Home Seeker

Not all rent to own houses in Quakertown and Surrounding Areas have the same contract that goes with them. So make sure to find out the terms of the rental agreement and the terms of the purchase option as well.  Usually the monthly rent tends to be a bit higher with a rent to own agreement vs. a normal rental agreement… because you’re basically paying a premium for the ability to potentially purchase that house at a pre-determined price in the future. There’s a lot of value in that.

But with rent to own agreements you should also have some flexibility that protects you. Make sure there are no fees for not exercising the purchase option at the end of the agreement.

Also clarify with the owner of the house on who will pay for things during the rental term like…

  • Maintenance
  • Lawn care
  • Insurance
  • Repairs
  • Upgrades inside the house (new appliances, paint, etc.)

Get it all in writing who’s in charge of these kinds of things during the rental term.

3. The Value Of The Home – The Value Going Up?

One of the big benefits of a Quakertown and Surrounding Areas rent to own home is the ability to lock in a home at a set price well in advance of you having to purchase it.

With a rent to own house contract, you agree on a monthly rental rate… a term of that rental (usually 12-24 months)… and a purchase price at a future date.

Because of this the purchase price usually doesn’t come at a discount for you… but, if you buy in the right Quakertown and Surrounding Areas PA neighborhood (one that is increasing in value)… you could be earning instant equity if you decide to purchase the home at the end of your rental term.

See Our Current Quakertown and Surrounding Areas Rent
To Own Homes Below!

If you still have questions about the rent to own process just call us anytime at 610-200-5545.

And if you want to be put on our local Quakertown and Surrounding Areas Rent To Own Home List click the link below to see what’s available.

See Local Quakertown and Surrounding Areas Rent To Own Homes >>

Quakertown and Surrounding Areas PA Houses for Rent – Why rent when you can own?

If you’re looking for Quakertown and Surrounding Areas houses for rent you may want to consider your other options as a potential home owner in the Quakertown and Surrounding Areas area.

Most locals who are looking for homes to rent in Quakertown and Surrounding Areas are likely looking at renting as their only option because of things like…

– Bad credit (and can’t get a traditional bank loan to purchase a home)

– Not enough funds for a large downpayment on the Quakertown and Surrounding Areas home you want to live in

– … or you’re just used to renting and didn’t know there were other options.

How Many Quakertown and Surrounding Areas Area Renters Are Turning To Home Ownership By “Renting To Own”?

If you haven’t heard of “renting to own” a home (some call it a “lease option”), you’re not alone.

But the “rent to own” concept isn’t new.

In fact, renting to own has become really common for many things, including furniture, electronics, cars, and more.

And the rent to own concept for houses has been around for decades as well.

So What Is A “Rent To Own” Home?

You can check out more info here on our website to learn more about renting to own a Quakertown and Surrounding Areas home… but in basic terms a rent to own home is…

… Simply a home where the owner of the house allows you to rent the house, with an option at the end of the rental term to purchase the house at a price you and the owner agree upon ahead of time.

You’re not obligated to purchase the home… but the seller is obligated to sell you the home at that pre-determined price if you choose to purchase it at the end of the rental term.

So How Does A Rent To Own Program Help You Buy?

There are a few big benefits to Quakertown and Surrounding Areas rent to own home programs like ours that can help many Quakertown and Surrounding Areas area residents to become home owners.

Usually there’s something causing people to choose renting over buying.

If your credit is preventing you from getting a bank loan to buy a home, a rent to own program can give you the time and assistance to improve your credit during the rental term… so at the end of the rental term you can hopefully qualify for a bank loan and buy the home!

Or for many people the issue is the downpayment.  If you just don’t have the money you’d need to put down on the house you’d want to live in… many times you can find rent to own programs with houses in the exact neighborhoods you want to live in… with much much lower move in fees… and even sometimes guidance in helping you build up the down payment needed during the rental term in the rent to own agreement.

In the end, if you’re looking for Quakertown and Surrounding Areas houses for rent… before you go and rent another house you may want to explore our Quakertown and Surrounding Areas Rent to Own Program to see if it’s right for you.

Renting to own isn’t for everyone… but if it’s the best fit for you this could be your chance to get out of the “rental rat race” and into a home of your own that you actually eventually own.

For more information on our local Rent To Own Home (lease option) program submit the form on the top right of this page, or give us a call anytime at 610-200-5545.

Renting An Apartment vs. Renting A House in Quakertown and Surrounding Areas

local rent to own companySo, you’re looking for a place to rent in Quakertown and Surrounding Areas?

As you’ve already seen… there are a lot of options in the Quakertown and Surrounding Areas area for housing.

All the way from apartments in Quakertown and Surrounding Areas to rental houses in Quakertown and Surrounding Areas… condos… mobile homes, and more.

But if you’re struggling to decide if you want to rent an apartment or a house… check out our tips below on the “pros and cons” of renting a local apartment vs. the pros and cons of renting a local house. (also, see our blog post on pros and cons of Rent to Own Programs for more detailed info >)

Renting A Quakertown and Surrounding Areas Apartment –

There are lots of great apartments in Quakertown and Surrounding Areas.

You’ve probably found new apartment complexes with all kinds of amenities like a swimming pool, gym, rec area, and all kinds of other perks.

And you’ve probably came across some bare bones apartments that just gave you 4 walls and not much else.

So here’s some Pros for renting local apartments:

  • Often rent is cheaper with an apartment vs. renting a house
  • Sometimes some services are included in your rent (trash, water, etc.)
  • Maintenance is 100% taken care of by the management (if you’re in a bigger complex, usually the maintenance person is on-site and can repair things quickly)
  • Sometimes there are more apartment units available than houses you want
  • Amenities are often included like rec rooms, gyms, pools, and more.
  • Sometimes you can pick up your neighbors wifi!

Here are some Cons of renting local apartments:

– You have neighbors sharing walls with you (sometimes on 3 sides of you)
– The stairs: If you get an upstairs apartment it can be a pain getting your furniture in and out
– Parking lot dings: If you’ve lived in a large apartment complex where you’re parking in a shared parking lot… you’ve likely experienced a ding or two from your neighbors on your car.
– Usually you don’t get a yard that is just for you (if you do, it’s usually very very small)

So what about renting a house in Quakertown and Surrounding Areas Houses Should You Start to Look At

In the end, I can’t say that local Quakertown and Surrounding Areas apartments are better than houses to rent or not.

It’s really down to your preference of what you want.

If you want more space and room to roam (without having to share walls with neighbors)… then renting a house will be the route you want to go.

If you’re looking for lots of options, a lower price, and extra amenities like a pool… take a look at the local apartments.

Or, a 3rd option for you is a local Quakertown and Surrounding Areas rent to own home program.

Not sure what a “rent to own” home is?

Check out this page on our website that walks you through what a rent to own home (lease option) home is.

If you’re interested in seeing the local Quakertown and Surrounding Areas rent to own homes that are available click the link below to get on the list and see available homes.

Or call us at 610-200-5545 anytime to ask us questions and see if our Quakertown and Surrounding Areas Rent To Own Program is right for you!

See Available Rent To Own Homes >>

Do I Earn Equity With A Rent To Own Agreement? – Quakertown and Surrounding Areas Rent To Own Program

rent to own processThis question comes up again and again… and honestly, the answer this question has changed in recent years based on new laws enacted that affect what a home owner can do when they’re selling their house under a rent to own agreement.

One of the big benefits of owning a house is that you (hopefully) earn equity as you make payments and pay down the mortgage.

One thing many home owners don’t take into account is that really during the first 5 years (or more) the majority of your mortgage payment to the bank is interest… and very little of your payments for the first 5 years actually goes to pay down the principal and earn you equity.

But on the flip side, the 2nd half of your mortgage is usually where the majority of your equity is earned since most of those payments go to the principal.

So how does it work with a rent to own agreement?

When you do a lease option / rent to own home in Quakertown and Surrounding Areas there are various types of arrangements you can choose to take… but the most common is this:

  1. You find the rent to own house you like and apply
  2. You and the rent to own house owner agree on a monthly rent, a “move in” type fee that basically pays for the privilege to have the opportunity to purchase the home late, and the price of the purchase at the end of the rental agreement if you want to buy it.
  3. You move in and pay your monthly rental payment and treat the house great (since you may be owning it someday).

In the old days of lease options / rent to own agreements, a home owner was allowed to let a portion of the monthly rental payment be applied to the purchase price as a pre-paid down payment.

This was great for everyone!

It helped the tenant buyer earn money off of the purchase each month they made a payment… and it helped the house owner sell the house more often at the end of the rent to own agreement since now the tenant had some “equity” in the deal.

But in recent years a bill was passed in Washington D.C. called the Dodd Frank Act that has placed restrictions on rent to own programs… and has limited the ability to apply rental payments to the end purchase of the home.

But There Is Still Opportunity To Earn Equity With A Rent To Own Contract

One of the great benefits of renting to own a Quakertown and Surrounding Areas house is that you get the ability to have the home seller agree to sell you the house for a price you agree upon today.

And the beauty is… if the market does really well during your rental term and the house goes up in value a lot… the seller can’t raise the price on you.

So whatever home value growth happened during your rental term over and above the sales price… that’s your equity!

Now, is there a guarantee that the value of the home will go up and you’ll earn equity?

No, but just make sure that when you’re negotiating the rent to own agreement that you really do a bit of research and see if the area the house is in has a good chance of increasing in value or not. Then base the purchase option price on that.

Before we wrap this article up… you may have the question of whether you HAVE TO buy the house at the end of the rental term.

The answer is no. If you decide you just don’t want to (or can’t) buy the house at the end of the rent to own agreement… you can just continue to rent if the owner will allow it or you can leave. You’re not bound to purchase the house. However, the seller is bound to sell you the home at the predetermined price as long as you followed the contract terms (i.e. – you didn’t miss payments, you weren’t evicted from the house because of a breach of the rental agreement, etc. etc.).

If you’re looking to get more info about our local Quakertown and Surrounding Areas Rent To Own Homes Program… simply give us a phone call at 610-200-5545 or fill out the form on this website to see our current LIST OF AVAILABLE RENT TO OWN HOMES here >>

 

Are You Required To Buy The House In A Rent To Own Home Contract? – Quakertown and Surrounding Areas Rent To Own Program

A really common question and concern from people looking at renting to own a Quakertown and Surrounding Areas house is “are you required to buy the house in a rent to own home contract ?” at the end of the rental term.

As an example…

… lets say you found a great Quakertown and Surrounding Areas rent to own home and agreed on an attractive rent to own agreement (lease option) with the seller that looked like this…
– $10k upfront
– $1,800/mo
– $200k purchase price option at the end of the 24 month rental agreement

Under that example, you have the opportunity to purchase the home for $200k within 24 months (often times you can purchase the home BEFORE the rental agreement ends with no problem).

So, Are You Required To Buy The House In A Rent To Own Home Contract / Agreement?

If the 24 months comes up and you’re just not ready to purchase the home… but you still love the home and want to live there still… just connect with the seller and see if they’re willing to offer you an extension on the rent to own contract.

Often times, if you’ve been a great renter and show a genuine intent to buy the house… the seller will work with you (it’s in everyones best interest).

If the 24 months comes up and you’re just not ready to buy and you don’t want to stay in the house… you can move out and not purchase the house… usually with no penalty.

What Happens To The Money You’ve Paid The House Owner Up To This Point?

If you choose not to buy the house, the time you spent in the home is treated just like a rental… since you didn’t exercise your option to purchase the home.

That’s the key distinction you need to be clear on with rent to own home programs.

That there are two parts to the agreement…

  1. A Rental Agreement: First first part is a normal rental agreement. You pay a monthly rent on the house for a specified term.
  2. The Option To Purchase: This is a separate agreement that gives you the option to purchase the house for an agreed upon price at a future date.

If you decide not to buy the home… you’re just deciding not to exercise your option to purchase the house… and everyone walks away looking at that past time as a rental.

Make sense?

Really it gives you as the rental tenant / buyer great flexibility in the deal. If you want to buy the home… you can at a set agreed upon price. If you choose not to… no biggie!

That about does it for this article 🙂

If You’re Looking for Quakertown and Surrounding Areas Rent To Own Houses…

… check out our Quakertown and Surrounding Areas rent to own house program on this website and see our available rent to own / lease option homes by clicking the link below.

See Available Quakertown and Surrounding Areas Rent To Own Homes >> 

 

Are Quakertown and Surrounding Areas Rent-to-Own Homes a Scam?

If you’ve spent time driving around Quakertown and Surrounding Areas PA or browsing Craigslist or other sites, you may have seen advertisements that read, “Own a home for $500/month. No credit check!”

While it seems too good to be true, local rent-to-own homes are a viable option that many Quakertown and Surrounding Areas residents are taking advantage of.

But…

Are Quakertown and Surrounding Areas Rent-to-Own Homes a Scam?

In any business there are a few hucksters who aren’t doing the right thing that give everyone else a bad name.  But renting to own / lease option homes aren’t a scam and they’re a really great way for people get on the path to home ownership if your financial situation prevents you from getting a home loan right now.  You can find hundreds of great articles online from reputable resources that back up the fact that rent to own (also called a lease option by many people) is a legitimate and great way to work your way into home ownership.

Really the rent to own process is a relatively simple concept:

  1. The buyer and seller come to an agreement on the cost of the home, the monthly rental payment, and how long the buyer will have to purchase the home.
  2. The buyer moves into the home and begins paying rent.   As this is going on, the buyer is working to rebuild his or her credit, or possibly secure financing to purchase the home using traditional means… and the buyer can feel that same sense of pride that home owners feel because they’re working toward that goal of home ownership actively.
  3. At the end of the term, the buyer has the option to buy the home at the price agreed upon in the initial agreement.

Things To Consider With Your Quakertown and Surrounding Areas Rent To Own Home / Lease Option

While rent-to-own homes in Quakertown and Surrounding Areas are a valid business venture, there are many things that buyers must consider.

Purchasing a home is one of the most complex financial decisions that Americans make every year, and renting to own is no different. There are several potential pitfalls:

  • Unlike traditional ownership, if a renter misses a payment, the entire contract *could* be voided. So make sure to read the fine print and ask the property owner what the default clause is. Any reputable real estate company, like Cyndy Sells Houses will give you this info and answer any of your questions.
  • If you decide not to purchase the home, or are unable to secure financing, any “credit” (if applicable) you may have earned will likely be lost
  • The upfront “option fee” for the rent to own agreement is usually a non-refundable fee. So be sure if you sign on the dotted line, that this home is the right one for you.
  • Unlike traditional rental agreements, in a rent-to-own situation, the renter is responsible for most repairs.

 

Some Advantages of Renting To Own A Local Quakertown and Surrounding Areas PA Home

While renting to own is not without risk (and no financial decision is risk-free), there are a ton of advantages:

  • Buyers can “check out” the neighborhood before committing to a 30-year mortgage.
  • Families can move in quickly and enroll children in the local school district.
  • Buyers with credit problems will have time to get their financial situation in order.
  • The seller has a tenant who has good reason to keep the property in shape.
  • The seller will receive monthly payments, which can cover mortgage payments.
  • The seller is exposed to a larger potential market by including those without perfect credit.

All things considered, not only is renting to own a home in Quakertown and Surrounding Areas definitely not a scam, but a legitimate option for both buyers and sellers.  If you want more information on renting to own a Quakertown and Surrounding Areas house, the process, and our available list of local Quakertown and Surrounding Areas rent to own houses / lease options, click the big link below.

Sign up below to see our Rent-To-Own properties!

Learn About Our Rent To Own Program On This Site Or Call 610-200-5545
then get on our Quakertown and Surrounding Areas Rent To Own Home List Here >>

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How Do Rent To Own Homes Work In Quakertown and Surrounding Areas?

One of the first questions we get from potential tenant buyers of our local Quakertown and Surrounding Areas PA rent to own homes / lease option homes is “how do rent to own homes work in Quakertown and Surrounding Areas?”

With a flooded real estate market, especially since the bubble burst of the mid-2000’s, rent-to-own homes have become a popular option for people who are deciding whether to purchase or rent a home.

Renting to own offers advantages to both buyers and sellers.

For the seller, they have steady income to make steady mortgage payments, while the seller has a period, typically a year or two to organize his or her finances and secure financing to buy the house.

The Local Rent To Own House Process

Renting a home to own a house is a relatively straightforward process, though many people are confused.

A common misconception is that the renter can live in the home and pay rent over a period of 15, 20, or 30 years, then own the home. It’s slightly more complicated that that.

But here are the basic elements of a rent to own agreement. 

• The buyer and seller draw up an agreement, covering all terms of a rent-to-own agreement.

• This contract will state the monthly rent, and a set period of time.

• The renter will have the option to purchase the home at an agreed upon price at the expiration of the agreed upon time period.

By giving a potential buyer a year or two to get their financial house in order, the seller can continue to make mortgage payments on the home, while living elsewhere. This is beneficial to the buyer, as if they’re sure that they can acquire financing, they can usually begin customizing the home to meet their needs and preferences… essentially treating it like you own the house (because you may own it someday!) and having that sense of home ownership during the process.

How Does The Monthly Rent Work With A Quakertown and Surrounding Areas Rent To Own House?

Really it depends on the location of the house (there may be different laws that dictate what you can do in different states) and any new federal guidelines that may come out that may limit what the property owner of the rent to own house may do.

But the standard guidelines of a rent to own house are pretty simple.

  1. You agree on a rental rate and a future purchase price upon the end of the rental lease sometime in the future (usually 1-2 years).
  2. You first pay an upfront payment to move in and secure the contract and the terms with the option to buy. The “option fee” or “move in amount” may in some cases act as a percentage of the down payment on the home, should the renter decide to purchase at the end of the term. This may or may not be the case depending on when and where you’re reading the article (based on laws). Connect with us directly for the local Quakertown and Surrounding Areas PA Rent to Own laws.
  3. You pay the monthly rent payment. This is no different from paying rent in any normal rental situation.
  4. At the end of the rent to own agreement (usually 1 – 3 years) you decide if you want to purchase the home for the price you agreed on initially in your rent to own agreement. If you want to buy the home, great!  We can assist you in getting qualified for a conventional loan to buy the home.  If you don’t want to buy the home, no biggie. You’re not required to buy the home at the end of a rent to own agreement in Quakertown and Surrounding Areas… the choice is fully yours.

So, for the question of “how do rent to own homes work in Quakertown and Surrounding Areas“… well that’s the basic process.

While there are lots of benefits of renting to own a home here locally… every housing option has pros and cons.

Just do your research, talk with reputable and experienced companies like Cyndy Sells Houses who can walk you through the local Quakertown and Surrounding Areas rent to own house process… and make the smart financial decision for you and your family.

Many people choosing rent-to-own may have past credit problems, or may just be unsure if purchasing a home is right for them. If that’s you and you want to look into the rent to own process and even see the available rent to own / lease option houses here in Quakertown and Surrounding Areas PA, click the link below and fill out your basic info to get on our Quakertown and Surrounding Areas rent to own home list

In an era of uncertainty in the real estate market, many Americans are finding that rent-to-own homes provide them with both flexibility, and the option of purchasing a home at the end of the term. By understanding how rent-to-own homes work, you can position yourself to take advantage of the many benefits of renting to own, and realize the American dream, despite past credit problems.

Sign up below to see our latest Rent-to-own homes!

Talk With Us About The Quakertown and Surrounding Areas Rent To Own Process at 610-200-5545 or
fill out the form here to see available rent to own houses! >>

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How to Know if Renting or Owning a Home is Right For You

So, you’re looking at moving and you’re not sure if renting or owning a local Quakertown and Surrounding Areas PA home is right for you?

You’re not sure if one is a better financial decision than the other?

You’re not sure if you’ll be able to find the type of house or apartment you’d like to live in?

You’re not sure what you can handle financially?

Well this article will dive into ways you can learn how to know if renting or owning a home is right for you in the Quakertown and Surrounding Areas area.

How To Know If Renting Or Owning A Quakertown and Surrounding Areas Home Is The Right Choice

Throughout the 1950’s-1990’s, home ownership was a major goal of most families across America. Owning a home was the “American Dream” and if you didn’t own your house there was almost this stigma that went with that.

But, that rule has changed in recent years. The economic downturn paired with the bursting of the housing bubble makes renting an attractive option for many Americans… maybe even you.

In the past, the choice to rent or own here in Quakertown and Surrounding Areas was about whether you’d prefer to live in a house or an apartment. Now, there are opportunities to purchase apartments / condos and rent homes, so there are options for renters or perspective owners to live in whatever type of property that they’d prefer.

Renting is great for people who want flexibility. Perhaps you’re just starting your career, and you’d like to be able to relocate quickly. Renting is a wonderful option for people who like to “try out” various neighborhoods in their city before finding a place to settle down.

Owning a home ties you to one location for a good period of time. It would destroy your credit to step away from your mortgage, and selling your home is a long, arduous process that could end in you losing some of your initial investment.

In many cases, contrary to popular opinion, it can be more cost-effective to rent than own, especially in situations where the local housing market isn’t going up in value very much each year. While renters pay a fixed amount each month, homeowners are required to pay additional fees, such as homeowners insurance, maintenance, repairs, HOA (local community association fees), amongst others.

It’s not always best to rent, however. Owning a home is still the American dream. You have the right to paint, decorate, and reconfigure your house however you’d like, without the worry of risking your security deposit or upsetting your landlord.  It’s the ultimate in freedom when it comes to your house.

Homeownership as an investment. While the housing market has rebounded here locally in Quakertown and Surrounding Areas PA… the home values aren’t increasing like they were during the build up of the housing bubble (which is a great thing actually)… but another benefit of home ownership is homeowners typically enjoy the potential appreciation of the value of their home.

From 1968-2004, home values grew by approximately 6.4% annually, outpacing inflation (as well as many stocks & other financial instruments).

As a homeowner with a fixed rate mortgage, you enjoy the benefit of inflation protection. For example, if your mortgage payment is $500 each month, you’ll pay that for the duration of your loan. However, the purchasing power of $500 can change significantly over the course of 15, 20, or 30 years. As most people’s income grows over time, a fixed- rate mortgage can eat less and less of your take-home pay each month.

There are many factors to consider when deciding whether to purchase or rent your next home. The key is doing exactly what you’re doing now… learning how to know if renting or owning a home is right for you.

The most important thing is to not take on any payments that you cannot reasonably expect to pay for the entire term of the agreement, whether it be a $600 monthly rent twelve months, or a $550 monthly mortgage for the next 15 years.

Have You Considered Renting To Own A Quakertown and Surrounding Areas Home?

There is another “hybrid” option to just renting or buying a house.

If you would love to own your own house in our area… and…

  • Just want to try a house out before you buy it
  • You’re not able to get a home loan to purchase a house right now for various financial reasons
  • You have some cash to put down on a home and can pay the rent and would rather work toward owning that house

… renting to own a local house may be right for you!

Check out the rent to own process here on this website and if you want to get on our list to see Local Quakertown and Surrounding Areas PA Rent To Own Homes… head over here to see available rent to own homes here in Quakertown and Surrounding Areas.

See our latest rent-to-own homes by going through the link below!

Give us a call anytime at 610-200-5545 or
fill out the form on this website today! >>

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Tips on Renting A Quakertown and Surrounding Areas Home

In today’s article, we’ll take a look at some tips on Renting a Quakertown and Surrounding Areas home that you should consider when renting your next home in Quakertown and Surrounding Areas.

As property values plummeted over the latter part of the 2000’s, many people began to turn to renting. There are plenty of reasons to rent as opposed to purchasing a home, including maintenance costs, desire to live in a densely populated part of Quakertown and Surrounding Areas PA, or the desire to live in a smaller space.

Should I Rent From A Private Owner vs. Management Company?

There are advantages and disadvantages to renting from a management company.

Oftentimes, a management company will quickly make repairs, and be responsive to tenant complaints. Forward-thinking companies may offer rent payment, maintenance and repairs requests, and answers to other questions on their website. Property management companies in Quakertown and Surrounding Areas are usually strict about who they’re willing to rent to. They’re more likely to run credit checks, and require certain scores to consider a tenant. Many property management companies are also reluctant or outright refuse to rent to tenants with pets.

Also with property management companies they tend to charge top of the market rents because they know what the “going rate” is.

Private owners are often more flexible about who they’ll rent to. Many are renting homes that they own in their retirement account, biding time until they retire, so they’re simply looking for an occupant. If you have credit difficulties or have a dog or cat, it might be best to find a private owner.

Private owners often may rent a house at a little bit lower price than a property management company because they don’t want to hassle with finding tenants or they simply may not know the local Quakertown and Surrounding Areas PA rental housing prices well.

In the end both private property owners and local property management companies have to follow the same landlord – tenant laws in PA so the experience with either one should be fundamentally the same.

Be Realistic with Your Budget

Most financial experts agree that you should spend no more than 30% of your total net income on housing costs. If you’re younger, you may want to budget more than 30%, as entry-level salaries are low, and the rental market is booming, leading to higher costs.

Take Pictures of Everything

After renting your next home in Quakertown and Surrounding Areas, before assuming the lease, it’s extremely important to take photographs of every inch of the house or apartment. This can be essential to recovering your security deposit at the end of your lease. Some uncouth landlords will use your security deposit to pay for broken items or scuffed floors that existed before you moved in.

Also, when you take pictures of everything it’ll indicate to the landlord that you’re a responsible tenant and build that trust with you as a tenant.

Get Renter’s Insurance

Renter’s insurance protects your belongings from theft and other catastrophic losses. In some states, landlord’s rights trump tenant’s rights, and if something goes missing or damaged in your rental unit, you’ll be responsible.

By purchasing renter’s insurance, your belongings will be protected. Renter’s insurance is extremely affordable, often costing less than $200 a year… which is a no brainer.

If you’re looking for renters insurance in Quakertown and Surrounding Areas PA just pick up your phone book and call any reputable insurance agent (the same type of insurance agents who could sell you auto insurance tend to offer renters insurance too) or head online and do a quick Google search for “Quakertown and Surrounding Areas PA insurance agents” and you’ll find a whole list of agents to choose from.

By being very details oriented during your search and moving into your new apartment or rental house, you can ensure a pleasant experience for both you and your landlord! For other tips on renting a Quakertown and Surrounding Areas PA home feel free to email us directly or give us a call and we can provide more information and free guides to help you find a great local house to rent… even a Quakertown and Surrounding Areas rent to own house list in case your main goal really to purchase a house rather than rent… but your current financial state won’t let you get a home loan (we can help!).

Consider A Quakertown and Surrounding Areas Rent to Own Home

The tips on renting a house in Quakertown and Surrounding Areas above are quick and simple and apply to a rent to own house as well.

But if your goal is really to own your own house here locally in Quakertown and Surrounding Areas… but your financial situation won’t let you qualify for a loan (bankruptcy recently, foreclosure recently, your income not high enough yet, etc.) then renting to own a home may be an option for you.

If that’s you… then start on this website by learning about the rent to own process and even get on our Local Rent To Own / Lease Option House list to see the available rent to own homes in Quakertown and Surrounding Areas.

For Other Tips On Renting A Quakertown and Surrounding Areas Home

If you have any questions at all don’t hesitate to contact us anytime. We’re here to help!  We can connect you with reputable property management companies, provide you free resources as a tenant here in PA that show you your rights, and more!  Or, if you do want to learn more about renting to own a local house… excellent!  We’ll walk you through the process and see if it’s a good fit for you!

 

Renting To Own Sound Good?
Sign Up For Our Local Quakertown and Surrounding Areas Rent To Own Homes List Below!
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How to find good investment property in Quakertown and Surrounding Areas

Lots of investors are looking to get started, and as active real estate experts in Quakertown and Surrounding Areas , we get asked to share our secrets quite a bit.

Fortunately, we love to share 🙂

One of the biggest questions we get from local investors is ” How to find good investment property in Quakertown and Surrounding Areas ?

With the flood of foreclosure deals all but dried up (compared to where they were a few years back)… people are having to get more creative in finding the best deals on great local Quakertown and Surrounding Areas investment properties.

We source our properties from a variety of marketing routes… online, offline, etc… so there is no one way that is the best way to find good investment properties in Quakertown and Surrounding Areas.

But the info below walks you through some ways you can put to action to find great properties to add to your investment portfolio.

Most investors are afraid of competition – they think that if they share their secrets, someone will steal their ideas from them.

That’s not how we work. We work with other investors to accomplish things together that we can’t do alone.

We share our learning and our philosophies here because we want to improve the quality of investment in Quakertown and Surrounding Areas to build stronger communities. Ultimately, we’re all investing in the same places, so it makes sense to do it right.

There’s a few core principles that are important to understand if you want to get the best investment property deals.

First, think long term.

Real estate doesn’t move like the stock market. It’s where people live, work and play – not just numbers on a screen. It’s almost impossible to make a huge amount of cash in a short-term real estate deal, those come few and far between.

So don’t expect to get away with fancy tricks, or that you’re smarter than the people who have been doing this stuff for years. Thinking long-term means learning from the past to better anticipate the future.

It also means that if you don’t find the local investment properties you’re looking for right away… just know that this isn’t a sprint… it’s a marathon.

That’s why it’s a great idea to find several sources of properties that fit your criteria (like our Quakertown and Surrounding Areas Investment Property Buyers List >> ) so you have a heavier flow of great deals to look at.

Second, focus on relationships.

The investment community in Quakertown and Surrounding Areas is much smaller than most people think.

There are only a handful of brokers and investors who conduct most of the business in the market.

They’re used to working with the same people on a regular basis. It’s worth the time and effort to find them and learn from them. If you can, work with them. They’re your best source of good deals, now and in the future.

How do you get to know them? Go to your local REIA and find the people who are active and talk to them. Ask them which real estate agents they use, what wholesalers in the area are active (and get their info) and let everyone you can find know that you are looking for investment properties that fit your criteria.  Learning how to find good investment property in Quakertown and Surrounding Areas isn’t hard thing… but relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Quakertown and Surrounding Areas market.

Who should you get to know?

  • A few of the top investment friendly real estate brokers in Quakertown and Surrounding Areas
  • A couple real estate appraisers who deal w/ the types of properties you deal with
  • The top handful of property wholesalers in the area
  • The top handful of property rehabbers / flippers in the area
  • Title agents that deal with investment properties a lot

Third, identify your target investments.

Investment is like many other aspects of life – the people who are the most focused often succeed the most. You have to find your niche. Some people make millions just in parking garages or storage units.

Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the market to see which opportunities are truly the best for you – and not just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns it and make sure that they know to call you when they want to sell that property.

This takes a lot of work, but it’s a tried-and-true method for creating long-term wealth.

Finally – use technology.

Sign up for our list of exclusive properties, and we’ll notify you instantly when we find a great investment.

We frequently source properties for deep discounts, secure them and then sell them for a discounted rate to the people on our list who are ready, willing and able to invest. There’s other ways to get notified about properties on the open market – you should get familiar with searching the multiple listing service with the rest of the herd, because every once in a blue moon a great deal shows up.

We don’t deal with average deals – we only pass along great deals to our partner investors. We’re not real estate brokers, and our business is a niche within Quakertown and Surrounding Areas.

If you’re looking to seriously invest in Quakertown and Surrounding Areas, we’d love to chat with you to learn your wants, wishes and objectives.

So hopefully you now know how to find great investment properties in Quakertown and Surrounding Areas. If you have questions give us a call or join our buyers list below!

Give us a call 610-200-5545 or fill out the form to get started now.

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