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Rent to Own FAQ's

Q: Who is BDF Realty, Inc.?

A: We are a licensed real estate firm in North Carolina that has been in business since 2003 and specialize in rent-to-own (also known as a lease option). We are a member of the NCAR Property Management Association, Charlotte Regional Realtor Association , North Carolina Association of Realtors , and the National Association of Realtors .

Q. How long of a lease can I sign?

A. Up to 3 years, depending on your credit situation.

Q: My credit is pretty bad. Is there any chance I can qualify to rent-to-own a home?

A: That depends. Most of the people we work with have poor to average credit. However, we only work with people who are SERIOUS about improving their credit and buying a home. We do not want to waste your time and vice-versa. It really depends on you.

Q: Does renting-to-own a home make sense for me?

A: That depends. Are you:

Sick of renting and getting nothing back from your monthly payments?
Waiting to sell your house out-of-state?
Looking to build your credit?
Do not have enough money to put towards a down payment yet?
Having a difficult time getting a regular mortgage?
A new resident and are not sure where you want to live in Charlotte?

If you answered "yes" to any of these questions, rent-to-own could be an excellent solution for you.

Q: Do you accept Section 8 renters?

A: Not for our rent-to-own program. Sorry.

Q: What does "renting-to-own" entail?

A: Renting-to-own consists of three parts: The option, the lease (monthly rent), and the purchase price. The option is the time period in which you have the "option" to buy the home at a set price; this is usually for the length of the lease you sign. This allows you plenty of time to qualify for a regular mortgage so you can purchase the home. The rental agreement is a standard lease and says how much rent you will pay monthly. The purchase price is the amount you would ultimately pay for the home if you bought it during your lease period.

Q: Why do tenants prefer to rent-to-own?

A: There are many reasons.

Equity in the home grows at a faster rate than through conventional financing
Don't have to move again!
Your rent money is working towards the purchase of your home
Enables you to "test drive" the home and neighborhood
Allows you to lock in to today's market price
There is less up-front cash out of your pocket
Credit problems are okay
It gives you time to repair your credit
You can make improvements to the property while you rent

Q: Can you give an example?

A: Sure. Let's base this hypothetical example on the following numbers:

$6,000 Down Payment (also known as the option payment)
$2,000 Monthly Rent
$400 Rent Credit per month
$300,000 Final Purchase Price of the Home

Here is the scenario: You find a house that you love. The deal that you work out with the owner is for you to put down $6,000 before you move into the home and then pay $2,000 a month in rent.

18 months later, you decide you are ready to buy the home you are in for the pre-negotiated price of $300,000. However, that would not be what you pay because you have built up equity while you have lived in the home. You can compute the equity by adding up the numbers:

$6,000 Down Payment (Refunded at closing towards the purchase price and closing costs)

$7,200 Rent Credits ($400/month for 18 months= $7.200)

That equals $13,200 that you paid that is essentially given back to you when you purchase the home!! This money is typically used as a down payment and/or for closing costs.

Your final purchase price is $286,800 ($300,000 less $13,200= $286,800). In less than 2 years, you have built up $13,200 in equity!!

Q: Where do you have homes available?

A: Our homes are in the Charlotte-Metro area.

Q: What if I have additional questions?

A: Please contact us by e-mailing your question by clicking on Contact Us or by calling (704) 370-6419. We are here to help!!



To receive FREE, real-time listings of new rental and rent- to-own homes, be our friend!	Rent to Own FAQ's Q: Who is BDF Realty, Inc.? A: We are a licensed real estate firm in North Carolina that has been in business since 2003 and specialize in rent-to-own (also known as a lease option). We are a member of the NCAR Property Management Association, Charlotte Regional Realtor Association , North Carolina Association of Realtors , and the National Association of Realtors . Q. How long of a lease can I sign? A. Up to 3 years, depending on your credit situation. Q: My credit is pretty bad. Is there any chance I can qualify to rent-to-own a home? A: That depends. Most of the people we work with have poor to average credit. However, we only work with people who are SERIOUS about improving their credit and buying a home. We do not want to waste your time and vice-versa. It really depends on you. Q: Does renting-to-own a home make sense for me? A: That depends. Are you: Sick of renting and getting nothing back from your monthly payments? Waiting to sell your house out-of-state? Looking to build your credit? Do not have enough money to put towards a down payment yet? Having a difficult time getting a regular mortgage? A new resident and are not sure where you want to live in Charlotte? If you answered "yes" to any of these questions, rent-to-own could be an excellent solution for you. Q: Do you accept Section 8 renters? A: Not for our rent-to-own program. Sorry. Q: What does "renting-to-own" entail? A: Renting-to-own consists of three parts: The option, the lease (monthly rent), and the purchase price. The option is the time period in which you have the "option" to buy the home at a set price; this is usually for the length of the lease you sign. This allows you plenty of time to qualify for a regular mortgage so you can purchase the home. The rental agreement is a standard lease and says how much rent you will pay monthly. The purchase price is the amount you would ultimately pay for the home if you bought it during your lease period. Q: Why do tenants prefer to rent-to-own? A: There are many reasons. Equity in the home grows at a faster rate than through conventional financing Don't have to move again! Your rent money is working towards the purchase of your home Enables you to "test drive" the home and neighborhood Allows you to lock in to today's market price There is less up-front cash out of your pocket Credit problems are okay It gives you time to repair your credit You can make improvements to the property while you rent Q: Can you give an example? A: Sure. Let's base this hypothetical example on the following numbers: $6,000 Down Payment (also known as the option payment) $2,000 Monthly Rent $400 Rent Credit per month $300,000 Final Purchase Price of the Home Here is the scenario: You find a house that you love. The deal that you work out with the owner is for you to put down $6,000 before you move into the home and then pay $2,000 a month in rent. 18 months later, you decide you are ready to buy the home you are in for the pre-negotiated price of $300,000. However, that would not be what you pay because you have built up equity while you have lived in the home. You can compute the equity by adding up the numbers: $6,000 Down Payment (Refunded at closing towards the purchase price and closing costs) $7,200 Rent Credits ($400/month for 18 months= $7.200) That equals $13,200 that you paid that is essentially given back to you when you purchase the home!! This money is typically used as a down payment and/or for closing costs. Your final purchase price is $286,800 ($300,000 less $13,200= $286,800). In less than 2 years, you have built up $13,200 in equity!! Q: Where do you have homes available? A: Our homes are in the Charlotte-Metro area. Q: What if I have additional questions? A: Please contact us by e-mailing your question by clicking on Contact Us or by calling (704) 370-6419. We are here to help!!