So I’m looking to move out of my parent’s house, and I’m looking at a few homes that are owned by the bank. But the only prices that I’m getting are ones to purchase the home, which are hundreds of thousands of dollars, which I obviously do not have. How do I find out how much I can pay on a monthly basis for rent? Is this even possible?
Rent Back
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Banks aren’t in the business to rent foreclosed houses to people. They just want to “get rid of them”..aka..to buyers..not renters. Look in the paper for “rent to own” properties, or houses for rent (not to own). You could also contact a local Realtor and have them find you a rental, but be prepared to pay them a commission, as they’d be doing all the work for you (on average, the equivalent to 1 months rent).
I do not understand why you
are looking at bank owned homes
for possible rental occupancies.
There are dozens of houses,
and “thousands?” of apts
for rent in every city in the nation.
[what am I missing here?]
Lenders are not in the renting business, and do not rent, lease, lease option or lease to own their properties.
sometimes you can look in the news paper under apartment and they will also have leasing to own.
The homes are not being rented..they are for sale. Banks want the money from a sale.
Lenders are in the business of lending money.
Landlords are in the business of renting properties.
Lenders don’t rent the home they have, they sell them so they get their money back so they have the money to lend to other people.