How Long Does a Rent to Own Contract Actually Last?
Wondering How Long a Rent to Own Contract Typically Lasts?
This is one of the most commonly asked questions we get. How long a Rent 2 Own contract actually lasts depends on several factors. One factor is your personal credit situation.
Generally speaking a Rent to Own contract will last anywhere from 12 to 18 months. The length is often dependent on your personal credit situation as mentioned above. This is due to the fact that you'll need time to fix your credit during the length of the contract. So the worse your credit the longer the contract.
Can The Contract Be Longer?
Yes, from time to time it can be longer. Again, it depends entirely on your personal credit situation and then sometimes the rent to own seller might have her own reasons for extending it.
Can I Extend Contract?
Yes, absolutely. During the term if you realize that you're simply not going to be ready for the agreed time then you just contact the seller and re-negotiate. Just keep in mind that you should always try your best to follow the agreed upon contract. Whenever you want to make changes it will put you in a negative situation as you are the one requesting the change. At the end of the day the seller does not need to agree to the change.