if the home’s rent is $1,000 per month, the owner might charge $1,200 per month and credit the renter with $200 per month toward the down payment, an amount known as the rent premium. Added to an upfront “option fee” of, perhaps, $5,000, the renter will have contributed a total of $7,400 to their down payment by the end of the first year.
that should read END OF THIRD YEAR, FYI… not trying to be picky just thought you might want to fix it.
Nope. Check your math.
I think all rental units, whether they are a single family home, duplex, town home, or an apartment, all should be inspected by a third party before the tenant signs the lease. Landlords will never agree. Cities might someday. There have been many complaints here about people having to sign leases before they even get to see the apartment unit. Then, when they move in, it is problem time; getting the landlords to make repairs is tough.