Why Rent to Own When You Can Just Rent?

Renting and renting to own are both valid options depending on your lifestyle and goals, and both have unique benefits. For those who anticipate relocating in the near future, renting may be the preferred option, whereas people who are looking to settle down and make an investment in their future may find what they’re looking for with rent to own solutions.

Renting VS. Renting to Own

Renting involves paying a landlord for the use of their property. Renting to own differs in that you rent your home with the intent to buy it after a set term. Rent to own programs often collect additional funds on top of rent to fund your eventual down payment on the property.

Benefits of Renting


Flexibility is a major advantage of renting. If you need to relocate, or move house, renting allows you to simply give notice and leave within a couple of months. You don’t need to go through the hassle of selling your home.

Lower Upfront Costs

Renting costs less upfront than homeownership because you aren’t responsible for buying the home or maintaining it. Rent is a reliable monthly cost that makes it easier to budget and plan ahead financially.

Benefits of Renting to Own

Builds Equity

Renting to own provides the opportunity to build equity over time, as well as a portion of each rental payment contributes towards eventual ownership of the property. The gradual accumulation of equity can serve as a stepping stone towards financial stability and future investments. As the home value increases, so does your equity.

Potential for Homeownership

Renting to own presents a path to potential homeownership for individuals who may not currently qualify for a traditional mortgage or lack the upfront funds for a down payment. This flexibility opens doors to those aspiring to own a home but facing obstacles in the conventional home-buying process.

Fixed Purchase Price

Having a fixed purchase price agreed upon at the beginning of the rent to own arrangement provides clarity and stability, shielding tenants from market fluctuations and ensuring they have a set goal to work towards throughout the rental period. This predictability can offer peace of mind and help tenants plan for their future housing needs more effectively. You also know the exact amount of down payment that is required to purchase the home at your predetermined purchase price.

Rent to Own Considerations

Financial Considerations

While rent to own programs have an initial deposit, there are also many financial benefits. The rent credits you pay towards your eventual down payment help you practice financial discipline. If you have poor credit or no credit, rent to own solutions give you time to build good credit and allow your score to recover from unexpected expenses.

You’re also building towards a healthier financial future. Rather than paying your landlord’s mortgage, you’re laying the foundation for owning a home of your own and building equity.

Maintenance Responsibilities

The maintenance responsibilities in a rent to own arrangement may vary. Some agreements require tenants to cover maintenance costs, while others set a dollar amount over which the landlord is responsible for maintenance. Read your contract so you can plan accordingly.

Personal Considerations

Consider your long-term goals when choosing between renting vs. renting to own. Is owning a home important to you? Do you like having the freedom to adjust your space to your needs and renovate at will? Do you plan to live in the same place for the foreseeable future? If you plan to settle down, renting to own may help you achieve your dreams of homeownership in a shorter timeframe than buying.

Which Solution is Right for Me?

Renting or renting to own is a personal choice, and what’s best for you will vary depending on your financial situation, priorities, and values. Our experienced advisors can give you expert advice on your options and help you make the choice that’s right for you.

Own Your Home Sooner with JAAG Properties

No matter your situation, you can own your home sooner with our Rent to own program! Apply online today or contact us for more information.