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Rent to Own

clstevens

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Joined
Sep 10, 2008
Messages
34
Hi

I am new to this and would really love some input on this situation. I own a Vancouver condo in Fairview Slopes - my primary residence. I do not hold a mortgage on it. I am trying to sell but it hasn`t had much action. It was a leaky condo and I spent $100 k on the repairs. It just completed in late June. It is priced right, as others in the building have sold and mine is a better unit than some - I think it might be a problem of marketing. Anyway... If it does not sell I would like to rent it out but the strata does not allow rentals. I wonder if a good idea would be rent to own? My questions are many but the main ones are - is this a good idea and if the strata does not allow rentals, is rent to own considered the same thing or is this something that the strata has no say about? What is the best possible solution - maybe neither of these?

I hope this is enough information to get the ball rolling. I appreciate any feedback.

Thank you.

C-L
 

invst4profit

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Joined
Aug 29, 2007
Messages
2,042
Your first step should be to ask the strata there position on rent to own.
However I would continue to try and sell if that is your real desire. Every home has a buyer eventually and since you feel it is priced right continue in that direction.
Are you selling yourself or with an agent. If not with an agent I would strongly advise getting one or get your agent in gear if you feel they are not performing well for you.
 
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