Rentals Near Bountiful Utah
"Sometimes it's Smart to Rent"

Searching for a Rental in the Bountiful Utah Area?

Search for "Rent-to-Own" Homes Bountiful Utah

Ask Doyle for Help

Rent or Lease?

First off, let's clarify that the word "rent" and "lease" are basically the same thing and interchangeable for the sake of explaining how to find a rental. The technical difference is that the word lease, usually means that you are renting for more than one month at a time.

Consider searching with the help of a Realtor. Because Realtors, in this case Doyle Johnson, can help you find "special" rentals that aren't listed in the paper or may not have a "for rent sign" posted. Here's why.

Why Rentals Can Be Hidden

Many landlords, especially in states like Utah, would really like sell their property. However, because the market starts to swing in the favor of buyers; too many houses to compete with and not enough buyers, so the seller ends up with a vacant house that he's paying a mortgage on. What does he do? He offers it for rent, TOO.

The property is for sale, but he can't have it sitting on the market forever empty, so he tells his Realtor, "If you can find a renter, go ahead and rent it. I can't afford two mortgage payments on my own any longer."

Also, some investors regularly offer their properties for rent and then end up selling the property the renter.

This called either "rent-to-own", or "lease-with-an-option-to-buy". In both cases you are renting the property but you have the option to buy later if you choose to.

This is ideal for most renters because they don't have to buy, and many times they don't and it's okay. It's understood by both the seller and buyer that it is simply an option.

Hidden Benefits of This Kind of Rentals and How to Find Them

One of the first and most obvious benefits is that it gives you the buyer much more of a selection in homes to rent. Bountiful has many of these offers now available as well as in most of Davis, Weber, and Salt Lake Counties. There are houses for rent in these counties that you would never know about unless you had a Realtor looking for you.

How do you find them?

You can use this free service to search for a start and/or ask Doyle to give you a list.

What are some other benefits of looking for a house for rent that is also for sale?

Often times, the landlord will ask if you want help in getting your credit back in order, if that's one of the reasons why you are renting at the moment. And then the investor-landlord will give you the time necessary to improve your credit score so that you can acquire a loan later. Nice.

Renting Homes with and Option to Buy - The Best Part of All

On top of that, usually part of your monthly payment is credited toward the purchase of the home. Some lenders will consider this as part of the down payment. If you end up exercising your option to purchase later, you get to buy the house at an already agreed upon price minus the credit. It can be a very good deal for both you the renter and future buyer and the landlord-seller.

In fact, it can work out well in the sense that if you end up hating the area or if your situation changes, you are not stuck trying to sell the property yourself because you were just the renter. On the other hand, if you end up getting attached to the neighborhood and the home you can buy it. What better deal can there be?

Ask Doyle to explain further. Searching for a rent to own property might be the way for you to go.

Happy house hunting.

Search for a Rent to Own Homes and Lease with Options to Buy in Bountiful UT