Rent-To-Own
- Thread starter l.graham
- Start date
- Joined
- Oct 22, 2007
- Messages
- 2,803
Further to our email conversation, one issue with tenant-buyer referrals is the fact that my company still goes through the entire qualification process, so a referral doesn't save us any money.
In my view, it is my company name on the line and me that is ultimately
responsible if I accept a client that doesn't have a solid chance at
successfully completing the program, so even when someone presents us with a completed application, we still must thoroughly review it.
While we do provide referral fees, it is often only a $1000 fee because we must still do all of the work.
That being said, there are several companies out there that provide "turn-key" RTO deals, with the tenant pre-qualified and the deal already structured. The fees for those are quite high. But again, I would be very cautious of taking over anything that someone else had started and is now passing all responsibility and accountability to me.
In my view, it is my company name on the line and me that is ultimately
responsible if I accept a client that doesn't have a solid chance at
successfully completing the program, so even when someone presents us with a completed application, we still must thoroughly review it.
While we do provide referral fees, it is often only a $1000 fee because we must still do all of the work.
That being said, there are several companies out there that provide "turn-key" RTO deals, with the tenant pre-qualified and the deal already structured. The fees for those are quite high. But again, I would be very cautious of taking over anything that someone else had started and is now passing all responsibility and accountability to me.