Rent-To-Own

Our Lease with a Right to Purchase Program (the “RTP Program”) allows you to find a home that you want to rent from us initially, but who may also like to buy at any time within the next three to five years.

You can lease the home for up to three to five years, depending on the state, and you may purchase the home from us at any time at a predetermined price in accordance with the Right to Purchase agreement.

We have certain minimum criteria for our program. Your household must have an annual income of $45,000. You must have stable employment. We cannot accept you into our program if you or anyone in your household has a history of eviction or a pending bankruptcy. Everyone in your household will be subject to a criminal background check.

Every member of your household who is 18 years of age or older must complete the Pre-Qualification Application and the Full Application. The Full Application requires certain information, including residence and employment history, for each member of the household. You also must provide income verification for each member of the household whose income is to be considered in determining the rent approval amount.

We take several factors into consideration including household income, rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, and FICO® scores.

We will usually make a decision on your application within 1 to 3 business days.

We have a one-time Application Fee of $75 per household that must be paid online as part of the application process. This Application Fee covers all applicants in the household and is nonrefundable.

We consider the profile of the entire household when reviewing an application. Factors include income, debt ratios, rental history, employment, criminal history, and FICO® scores. If your application is denied, you will receive notification in writing.

You should work with your REALTOR® to search for homes that meet our purchasing criteria. Generally, this means the home should be:

1. Located in an approved community (displayed on www.homepartners.com).
2. Listed for between $100,000 and $400,000.
3. Located on a lot no more than two acres with a minimum of two bedrooms.
4. A single family home or fee-simple townhome (no condos/commercial/multi-family).
5. A traditional sale (no short sales/auctions/REOs).
6. Free from material deficiencies.
7. No guest houses/in-law suites with separate entrances.

Once selected, the Solid Rock Realty REALTOR® must submit it to us online.

No. The homes shown on our website are listed for sale in the markets in which we operate. This list feeds from a listing service. We cannot guarantee that every home shown meets our minimum eligibility criteria.

Yes. Generally, we require a deposit equal to two months’ rent. This deposit is not applied towards your rent. If you comply with lease terms and return the home in good condition, the full deposit will be returned to you or credited to the purchase price if you buy the home.

On average, it takes approximately five to six weeks from purchase agreement to move-in. Variables include negotiation length, inspections, and requested renovations. We will keep you informed throughout the process.

You are our tenant, and we are your landlord. You have entered into a lease with us for one year. We will collect your monthly rent and perform any necessary repairs that are our responsibility.

No. Monthly rent payments are not applied to the purchase price. If you exercise your Right to Purchase, you must pay the full predetermined price set forth in the agreement.

You may notify us at any time that the Lease is in effect. You must provide written notice at least 60 days before you want to complete the purchase.

Yes, you can exercise your Right to Purchase at any time during your Lease, provided you give 60 days written notice and close before the end of the applicable Lease term.

No. We are not a mortgage company. We cannot guarantee that you will be able to obtain a mortgage loan if and when you wish to exercise the Right to Purchase.

Yes. A maximum of 3 pets (cats/dogs) with a total combined weight under 180 lbs. Prohibited breeds include Doberman, Pitbull, Rottweiler, or Mastiff. No livestock or exotic pets. There is typically a $300 nonrefundable fee per pet (refundable upon purchase). Assistance animals are excluded from these requirements with documentation.