Renters often times reach the point where they decide it’s time to break a lease to buy a house. This is especially true in today’s real estate market where home prices keep rising.
Here are a couple of ways that tenants can break a lease to buy a house that will also be a win-win situation for the tenant, landlord, and property management company.
Break A Lease To Buy A House – New Home Construction
New home builders can usually be a big help to tenants wanting to break a lease to buy a house. As long as the house they are buying is the new home that the builder is selling.
That’s because new home construction usually has a lot of latitude in the pricing.
Granted, the tenant may need to pay termination fees to break its lease. But the builder can sometimes reduce the price of the new home by the total amount of termination fees the tenant needs to pay to break its lease to buy a house.
Real Estate Agents Can Help Break A Lease
Another way that renters can break their lease to buy a home is with the assistance of their real estate agent.
Landlords that own income property, and property managers that handle the rented property are mainly concerned with keeping the property rented.
That’s where the help of a real estate agent can come in.
If the tenant is using a real estate agent to find a new house to buy, then the agent can also help the tenant break its lease. The real estate agent can do this by finding a good, qualified new tenant to rent the property.
Many real estate agents will also offer to waive their leasing fee for doing this, since they’re getting paid a nice sales commission from the new home builder for selling a house for them.