Here are a few things to keep in mind before using a short -
term rental arrangement.
Not exact matches
In simple
terms, a rent - to - own
arrangement involves two separate agreements: one for the
rental period and one for the purchase.
However, even in this case the lender will examine potential timeshare or short -
term rental plans for the home, an
arrangement that is not allowed by Fannie Mae.
Most lease agreements are long -
term, and the
rental rate is often higher than average, so this can be an advantageous
arrangement for property owners.
This question is influenced by any money that may be available in the form of commission (in the short
term) as a result of a lease or
rental arrangement — in lieu of a typical Offer to Purchase that does not involve any
rental element.
But not all such
rental arrangements have to be long -
term.