Our Rent2HomeAz program puts you on the path to home ownership by applying up to $200 of your monthly rental payment toward the purchase price of your home (depends upon rental amount) with a minimum of $1,000 per year in credit! Unlike bank programs, we look beyond your credit score and craft a customized plan that fits your needs and budget.
Please see below for additional details on this fantastic program. If you'd like to apply, please fill out the following Rent2HomeAZ application now!
» Click here to complete the Rent2HomeAZ Online Application
For more information, or to share details of this program with a friend, you can download and print our informative Rent2HomeAZ brochure, which covers the following commonly asked questions:
- What are the benefits of a lease purchase option?
- How important is my credit?
- What is the application process?
- How do I apply?
- What cities do you have homes in?
- How do I arrange to see one of your homes?
- Are your homes in good condition?
- How soon can I move in?
- Do you allow pets?
- Does Treehouse Group Realty assist when things need to be fixed in the home?
- How long will it take to buy my home?
- What does it mean to have the right to purchase the home in the future?
- Who determines the purchase price of the home?
- How are your lease prices determined? Are they negotiable?
- How do I know this is not a scam?
- What if there is someone willing to pay more for my home at the time I want to exercise my option?
- If there is an upturn in the real estate market in the next 2-3 years, do you plan on selling your homes?
- Are any of your homes up for direct sale?
- How much upfront cash do you need to lease one of your houses?
- What is the option payment?
- Can you help with financing when it is time to purchase the home?
- What happens to my accumulated money if I am not in the position to buy the home after four years?
- What if I have to relocate for my job or move out of state unexpectedly?
- My employer offers a home buying assistance program? Can I use that program with Rent2HomeAz?
What are the benefits of a lease purchase option?
With a lease purchase option you are saving to purchase your home while you rent. To assist you with that purchase, a minimum of $1,000 for every year you pay rent is applied towards the price of your home.
How important is my credit?
Your credit is one of several factors we use in the application process, but it is NOT the most important factor. We also look at your income, employment and your rental history.
What is the application process?
First, you must fill out an application, after which we perform a credit check, verifying your income, employment, criminal background, and rental history. We charge $35 per applicant and ALL residents in the house over 18 years of age must complete an application. Usually applicants are notified within 2 days of submitting the information.
How do I apply?
You can apply online here: Rent2HomeAZ Online Application.
What cities do you have homes in?
We currently own homes in almost every city in the Phoenix metro area. We are always buying in new areas and typically have at least 20 houses in our inventory at any one time – so continue checking back for our current listings.
How do I arrange to see one of your homes?
Call us at (480) 966-5454 and schedule an appointment with one of our leasing agents.
Are your homes in good condition?
Yes, most of our homes have been completely remodeled with new paint, flooring and appliances. Additionally, many have had more extensive renovations done including plumbing, landscaping and exterior paint. Yes! Our professional crews have updated all of our homes and they are in excellent condition. On average we invest about $10,000 per home on renovations. Additionally, we purchase a one-year home warranty for each of our properties.
How soon can I move in?
Once your rental application is approved and we receive your rental deposit and move-in funds, you are free to move into the property as soon as you like.
Do you allow pets?
We do allow pets, however there will be an additional deposit depending on the size/type of the pet.
Does Treehouse Group Realty assist when things need to be fixed in the home?
Once you have signed all your paperwork and have been approved you will become a client of Treehouse Group Property Management. We have a dedicated phone number for concerns and a website with a special section just for clients. We also purchase a home warranty for clients which covers repairs for most items in the home and can be renewed after the first year by the client. Per the lease purchase option agreement the resident (Optionee) is responsible for maintaining the home. However, we do take care of pre-existing conditions if they come up.
How long will it take to buy my home?
This question largely depends on you. The sooner you can qualify for a loan the sooner you can buy the house. Our LPO (Lease Purchase Option) contact allows you to buy anytime during the second, third, fourth, and sometimes fifth year of your contract.
What does it mean to have the right to purchase the home in the future?
While you are contracted with us with an LPO, during the option period your home will not be put up for sale during that contract period. You have the exclusive right to purchase it when you are eligible and can qualify for a loan. You can purchase the house anytime during years two, three, four, and five of the contract period.
Who determines the purchase price of the home?
In your contract there is a “minimum purchase price” listed. When the option is exercised (when you actually Buy the property) we will have the home appraised by two independent appraisers. If the appraised value is greater than the minimum purchase price, we will take the average of the two appraisals. For example, if the minimum purchase price is $100,000 and one appraised value is $120,00 and the other appraised value is $130,000, then the sales price will be $125,000. Our agents are available to discuss how the purchase price works in more detail.
How are your lease prices determined? Are they negotiable?
Our lease prices are based on the current market value for similar properties in the area. Generally, they are non-negotiable. However, since we are crediting a minimum of $1,000 each year back to you when you purchase the home, they are effectively priced below market.
How do I know this is not a scam?
We can provide proof of ownership of any house upon request. We are a locally based (Tempe, AZ), Better Business Bureau-certified company, and we have leased over 400 homes throughout the Phoenix Area. You are also welcome to come and visit our office.
What if there is someone willing to pay more for my home at the time I want to exercise my option?
Your home will not be sold to anyone during your contract period as long as your option is still in effect.
If there is an upturn in the real estate market in the next 2-3 years, do you plan on selling your homes?
We hope to sell our homes to those currently residing in them so they can own a home in the future.
Are any of your homes up for direct sale?
Some homes may be up for direct sale, but most of our homes are currently being rented or leased as lease purchase options.
How much upfront cash do you need to lease one of your houses?
This amount varies by house but it is generally between $1,200 and $2,000. This includes the first month’s rent plus your option payment. Sometimes the option payment portion can be spread out over a few months.
What is the option payment?
This initial option payment represents one month’s rent or the deposit amount. This allows you the exclusive right to purchase the home in the future and will be applied towards your down payment when you purchase the home.
Can you help with financing when it is time to purchase the home?
At this time we do not offer a financing program. Since, Rent2HomeAZ is a five-year program, you do have time to repair your credit, save money, etc., or work on whatever has prohibited you from securing a loan in the past.
What happens to my accumulated money if I am not in the position to buy the home after four years?
Your option payment is forfeited if you do not purchase the home. We are willing to work with you and can consider extending your option contract depending on the circumstances.
What if I have to relocate for my job or move out of state unexpectedly?
If you have to relocate you will unfortunately lose your option payment.
My employer offers a home buying assistance program? Can I use that program with Rent2HomeAz?
This depends on the company and the program. We can provide you with our LPO agreement to review with your employer to determine if you qualify.
