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Ask Dave

Does Dave Do Rent To Own?

What does Dave think of rent to own?

QUESTION: Matt asks Dave what he thinks of rent to own. He doesn’t like it a lot of the time, but he talks about an option that he doesn’t mind.

ANSWER: In most cases, I wouldn’t do it; like, 99% of the time. I don’t mind leasing with an option to purchase, and that option could go down every so often, even per month. With an option to purchase, you are not obligated to buy. It gives you the right to buy, and in those cases you don’t want to overpay. You want to pay regular market rent to rent the place, and continue to get a very good deal on your option to buy. But rent-to-own is a bad deal 99% of the time.