The Real Deal Miami

Rent-to-own gets more popular

January 19, 2009 10:46AM

Renting to own a car is common. Renting to own a house is less so, but it’s getting more acceptable in the battered South Florida market. Sellers are willing to consider rent-to-own because they’re struggling to unload their properties, and a rent-to-own contract brings in cash. Prospective buyers also are game because credit is tight, and they can build equity while they take time to qualify for mortgages. Krystal Financial & Real Estate Services in Pembroke Pines screens prospective buyers and pairs them with sellers who don’t mind renting first. Poor credit doesn’t necessarily disqualify a potential buyer from the firm’s lease-to-own program.