Rent to Own

[missmanors]

My neighbor recently sold her home, and I just found out she didn't do much except advertise it for sale as "rent to own", she felt that with the state of the housing market, this would make for a quick sale. Big mistake for her. She didn't cover her bases at all well. Now every time some little thing goes wrong with the home, the buyers call her to fix it. Of course she has no idea how to fix anything, and has been relying on my husband to run over to the home and repair whatever needs doing - out of the goodness of his heart, I may add.

Yesterday he finally got tired of repairing everything that the "buyers" wanted done and told the owner not to call him any more about these problems. The owner is really upset about this situation, I guess she thought that my husband would just go on being used this way!! I don't know what she will do the next time her buyers call her with a problem, but I do know that she needs to find someone else, but I don't think she's going to find someone who will work for no pay.

I don't know why she didn't get a lawyer and have a land contract drawn up so that the buyers would be obligated to repair whatever needed repaired while they were paying on the home. Some people just don't think things through.

[homealone]

It isn't surprising how some people take advantage of anyone that they can. I feel bad for the woman but before she decided to sell the house as "Rent To Own" she should have done a little research to make sure that issues like repairs and what not would not fall on her to take care of.

Hopefully the information that you shared will help others not to make this same mistake and save themselves a bunch of headaches.

[nicohohman]

There's nothing wrong with renting property. However, it is a business and you have to look at it like a business and make your decisions just like you would in any other businesses.
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