San Diego Unified
There is NO Bank Qualifying required to get
Reduce your purchase price. Pay your
rent on time each month and receive a 50% rent credit .
Rent to Own Benefits Tenant Requirements
Rent 2 Own Application
Rent: $2,450 per month
Security Deposit: $1,000
Down Payment: (Option Consideration): Negotiable
Lease Option Term: 12 months with right to extend
12 additional months
Purchase Price: $597,000
50% Rent Credit (Pay
rent on time & deduct
$14,700 from purchase price at end of year
||San Diego's Vibrant Downtown Becomes a Cultural Mecca.
Nestled between San Diego Bay and Balboa Park, Downtown San
Diego is rich with lifestyle choices, amenities and
Downtown San Diego, one of the most desirable cities in the
Nation, is experiencing an unprecedented urban Renaissance.
It's a remarkable transformation that has revitalized this
Waterfront city and continues to make it a model of urban
renewal across the country
Downtown San Diego is experiencing a significant change,
creating quality urban spaces for cosmopolitan businesses to
offer lifestyle choices.
Choices around shopping, dining, recreation and nightlife are
spread along the Waterfront and in and around the Historic
Gaslamp Quarter, Little Italy, and Horton Plaza. Convention
Center events assure interaction with topical experts around the
The Centre City offers a breathtaking Waterfront location, warm
year-round temperatures making it an exciting and popular
24-hour live-work-play environment.
Because of its central location within the region, Downtown San
Diego is one of the most accessible urban areas in the country.
It is reachable by plane, car, train, trolley, bus, boat,
bicycle, and shoe leather. It's definitely a multi-modal
Thousands of visitors, residents and workers pass through the
streets of Downtown San Diego every day, enjoying the beauty,
history and uniqueness of this celebrated Waterfront city.
San Diegans picture Downtown San Diego as having the Charm of
If you would like to own your own home but
are unable to secure conventional
financing, leasing a home with an option
to buy may be your best option. A lease
purchase (rent 2 own) can make your rent
money work for you instead of making
your landlord rich.
If you are like most people you dream about owning a
nice home in a nice area. If you can afford a reasonable down
payment (called 'option consideration'...a payment that "locks
in" the purchase price) and monthly rent payments, you can
easily qualify to buy this home. The amount of Option
Consideration required to "rent 2 own" this home is negotiable
Our owner “Rent 2 Own” financing program makes buying this
home easy. Here is your chance to make your dreams come true.
You can own this home today even if you have bad credit.
When you own a home in the Downtown
San Diego Atria condominium complex,
you’ll start enjoying a maintenance-free
Imagine living in one of the newest and
most prestigious condos in the heart of
the Marina District Downtown San Diego.
Picture the views from your spacious
condominium. Feel the tranquility of
your gracious surroundings. Appreciate
the convenience of living minutes from
everything that makes life fulfilling.
It is only a few minutes walk to
Horton Plaza Shopping Center, Major
restaurants, downtown shops and
Filling out our FREE "Rent to Own"
Application Form below will
provide us the information
together a "Rent 2 Own" Agreement for you that will
be within your
Get Started Filling Out Our
FREE No Obligation "Rent 2 Own"Application Form
||Our "Rent to Buy" Program is perfect
for the family who wants to own their own home but can not yet afford to
buy because of lack of funds for a down payment, poor credit, or not
being on the job long enough to qualify for a bank loan. With our "Rent
to Own" program you can fix these problems while you live in the house.
Even if you have "SHAKY" credit, that's all right. We don't have
a required dollar amount that is necessary for you to put down to move
in. That amount is negotiable and if your down payment offer is
reasonable we will try to work with you. We will do our best to work
within your budget for your monthly rent and your down payment (option
When you are ready to
exercise your option to purchase
and if you are not in default of your lease we will carry the financing
so there is no need for you to qualify for a bank loan.
The question you need to ask yourself is what would your budget
allow you to put down towards the purchase of your future home? This
down payment (option consideration) will "lock in" the purchase price
for up to 2 years.
Benefits of Lease Purchase for
the Tenant Buyer
- Maximum Leverage: You don’t need a 10-20% Down Payment to
get into the Property. When you buy a Lease Purchase (Rent 2 Own)
home, you can put down as little as first month's rent, a security
deposit and a 2% to 4% or less option deposit. We can even spread
some of this over monthly payments.
- You are spending very little money to control a very
expensive, and very profitable, piece of real estate. You will
be put in full legal control of the home for a specified period
of time without actually having to own it.
- Compare that to a typical bank or lender who requires 10-20%
- What is Option Consideration (Option Deposit)?
- It is the upfront money you pay the seller in order to
"lock in" the purchase price for 1 – 2 years.
- When you sign a Lease Purchase contract, you will pay
the seller an option deposit. This money is your vested
interest in the home and will be fully (100%) credited
toward purchase price when you buy the home.
- Rent Money is Working Toward the Purchase of a Home:
Every month a portion of your rent payment (typically 25% to 50% of
your monthly rent/lease payment, depending on the home) is credited
towards your down payment or off the sales price. This rent credit
goes toward the final purchase price of the property. You are buying
the property while renting it. Equity accumulates much faster than
with conventional financing through a bank or lender.
- Why Does a Landlord Give a Rent Credit? The Landlord
gives a rent credit to the tenant as an incentive to
pay their rent on time
and take care of the minor maintenance and repair on the
- Frequently No Down Payment at Closing - Minimum Cash Out
of Pocket : Since you have given the seller up front option money
and you have been receiving monthly rent credits, there will
frequently be very little or nothing left to pay for a down payment
- Profits from Appreciation: Since the sales price is
locked in before closing (as specified in your agreement), any
increase in property value will mean that your equity (the amount
you owe minus what it's worth) is increasing in the home.
- Credit Problems are Okay: Qualification restrictions
simply do not exist. You will be approved at the sole discretion of
- No Lengthy Escrows or Mortgage Approvals: Your approval
will be based solely at the discretion of the seller instead of a
lender who can take up to a month (or longer) to render a decision.
- No Taxes, Less Liability: Since you do not own the home
(yet), you will not have to pay property taxes and your liability
exposure will be dramatically reduced.
- Quick Move In Time: You can typically take possession of
the home in less than one week instead of conventional move in times
of one to three months after your offer was accepted.
- Time: Before you actually buy the home, you will have
12-24 months (depending on your agreement) to save for a down
payment, repair your credit, find the best mortgage interest rates,
investigate the home and research the neighborhood and/or schools.
- Minimal Maintenance: Major maintenance and repair
problems or any maintenance problems that exceed a certain amount of
money are the responsibility of the owner.
- Privacy: Your name will not be on the deed (or any other
public records) until you exercise your option to buy.
Peace of Mind:
You will have full control of the home knowing that you have the
exclusive right to buy the home at a future date.
3 Main Requirements For The "Rent 2 Own" Tenant Buyer
1. Pay Rent On Time:
Each and every month the Tenant Buyer must pay rent on or before the 1st
day of the month. Depending on which program is chosen, between 25% and
50% of the rent will be credited towards the purchase price of your
future home. If the rent is not
received on or before the 1st of the month you will lose the entire rent
credit for that month. When you just rent there is no rent
credit. When you have a traditional loan, in the early years very little
of your monthly payment goes towards reducing the loan amount. When you
“Rent 2 Own” if you pay your rent on time you will get a rent credit
with a generous amount of that rent going toward reducing the amount
owed on the home.)
2. Maintain The Property:
This will be your home. You will be responsible for all the day to day
maintenance on the property. Anything major is usually the
responsibility of the owner. If you clog the toilet, break a window, or
make a mark on the painted walls it is your responsibility to take care
of it. It is in your best interest to maintain and improve the property
because eventually you will need to refinance the property and cash the
home owner out and your lender will give you a larger loan if the
property is in good shape.
Plus, if you make improvements to the property and the property goes up
in value, (if you exercise your option to purchase) that increase in the
homes value is yours to keep. Your purchase price is locked in at the
beginning of the “Rent 2 Own” term and it cannot be raised for any
reason. This is one of the huge benefits of our “Rent 2 Own” program.
3. Pay Up Front Option Money:
An upfront “Option Consideration” payment is required to move into the
property. The amount is reasonable and negotiable. This payment is 100%
applied towards the down payment of the property when you exercise your
option to purchase the property. "Option Consideration" is what "locks
in" the purchase price for the term of the lease option. The lease term
on each property is different. During this time you will have the
opportunity to save money, repair your credit and locate the best loan.
Usually you have the right to buy the home at any time during the lease
option period. If you do not exercise your option to buy the property
during the “Rent 2 Own” lease term the upfront option money is
forfeited. (Option money is not refundable.)