FAQs
Lease Purchase Option
Here are the most common questions people have about Lease Option Agreements, along with clear and detailed answers:
What are the benefits of a Lease Option Agreement for me as a seller?
There are several benefits to this type of agreement: ✅ Guaranteed Monthly Payments – You receive fixed rental income even if the property is vacant. ✅ No Agent Fees or Commissions – You won’t have to pay estate agent fees, saving you thousands. ✅ Hassle-Free Property Management – We take care of the property’s upkeep, tenants, and compliance. ✅ Sell at an Agreed Price – You secure a future sale price today, avoiding market fluctuations. ✅ No More Tenant Worries – We handle everything, so you don’t have to deal with difficult tenants. ✅ Avoid Mortgage Arrears or Repossession – If you need to move but can’t sell, this can be a solution. This agreement provides financial stability and peace of mind without the risks and delays of the open market.
What happens if you decide not to buy my property at the end of the agreement?
Our goal is always to complete the purchase at the agreed price. However, if for any reason we choose not to exercise the purchase option, the property remains yours, and you are free to: ✅ Sell the property to someone else. ✅ Keep the rental income you've already received. ✅ Continue renting or living in the property. Since we invest time and money into the property and its management, it is in our best interest to complete the purchase, making this an unlikely scenario.
Will I still be responsible for the mortgage and any property costs?
Yes, you remain the legal owner until the purchase is completed, which means: ✅ The mortgage remains in your name, but our guaranteed rent payments can cover these costs. ✅ We take over all tenant management, repairs, and maintenance—so you won’t have any additional expenses. ✅ You won’t have to deal with letting agents, void periods, or late payments. For many sellers, this offers a financially secure transition while removing the stress of managing the property.
What type of properties qualify for a Lease Option Agreement?
We typically work with: 🏡 Residential properties (houses, apartments, HMOs). 📍 Properties where the owner is struggling to sell or wants a guaranteed income. 🔑 Homes where the seller wants to move on without waiting for a traditional buyer. 🏠 Properties where the owner wants to secure a future sale price while receiving income now. If your property fits these criteria, a Lease Option Agreement could be a perfect solution for you.