Rent to Own, Lease with Right to Purchase
Find a Rent to Own Home with a Kenna Real Estate Agent. Kenna Real Estate provides responsible households a transparent path to homeownership through its Lease with a Right to Purchase Program. Many factors go into the decision of whether to rent or buy a home. For example, the upfront costs of buying a home, including the down payment and closing costs (taxes and fees) can be quite high, so it usually makes more sense to rent if you plan to remain in a home for less than five years. Other considerations include property insurance, maintenance and repairs. A homeowner is responsible for these costs while a renter typically does not make any of these payments directly. Nevertheless, the monthly cost of owning a home may be meaningfully lower than the monthly cost of renting.
How the Rent to Own Program works:
- Prospective Household applies for approval.
- Household finds a Home Partners qualified home.
- Home Partners buys the qualified home, household leases from Home Partners.
- Household has the right to purchase the home.
Rent to Own Homes, $100,000 - $200,000
| All Listings | $200,000 - $300,000 | $300,000 - $400,000 |
| $400,000 - $500,000 | $500,000 - $600,000 |
It is easy To Qualify for the Rent To Own Lease with Right to purchase Program.:
- Household income $50,000 or More
- Credit score of 550 or above
- No Evictions within last year
- Deposit is two months rent and refundable after 1 year renting
- Max home price $550,000
- You pick any home for sale as long as its in good condition
The resident's financial obligation is limited to 1 year of rent. Approved Rent to Own residents can:
Elect to rent for up to 5 years
Move out after each one year lease term without penalty
Purchase the home ANYTIME during tenancy
Colorado Rent To Own Community List
Prospective residents will work with a REALTOR® to find a home in an approved community.
(Click here More for Communities)
Home Partners of America uses consistent and objective investment criteria- including median home prices and high school rankings- to identify communities that have a high quality of life and long-term opportunities for residents. The following is a list of Home Partners of America and Kenna Real Estate's approved communities and high schools in Colorado: (Click here to Apply)
| Rent to Own in Adams County | ||
| Cherokee Trail HS | Horizon HS | Standley HS |
| East HS - Denver | Legacy HS | |
| George Washington HS | Pomona HS | |
| Rent to Own in Arapahoe County | ||
| Arapahoe HS | George Washington HS | Mountain Vista HS |
| Chaparral HS | Grandview HS | Smoky Hill HS |
| Cherokee Trail HS | Heritage HS | Thunderridge HS |
| Cherry Creek HS | Highlands Ranch HS | |
| Eaglecrest HS | Littleton HS | |
| Rent to Own in Boulder County | ||
| Berthoud HS | Golden HS | Ralston Valley HS |
| Boulder HS | Legacy HS | Silver Creek HS |
| Broomfield HS | Longmont HS | Standley Lake HS |
| Centaurus HS | Mead HS | Thompson Valley HS |
| Erie HS | Monarch HS | |
| Fairview HS | Niwot HS | |
| Rent to Own in Broomfield County | ||
| Broomfield HS | Erie HS | Monarch HS |
| Centaurus HS | Legacy HS | Standley HS |
| Rent to Own in Denver County | ||
| Cherry Creek HS | George Washington HS | Wheat Ridge HS |
| East HS -Denver | Littleton HS | |
| Rent to Own in Douglas County | ||
| Arapahoe HS | Columbine HS | Lewis-Palmer HS |
| Castle View HS | Douglas County HS | Mountain Vista HS |
| Chaparral HS | Grandview HS | Palmer Ridge HS |
| Chatfield Senior HS | Heritage HS | Ponderosa HS |
| Cherokee Trail HS | Highlands Ranch HS | Rock Canyon HS |
| Cherry Creek HS | Legend HS | Thunderridge HS |
| Rent to Own in El Paso County | ||
| Air Academy HS | Douglas County HS | Manitou Springs HS |
| Castle View HS | Falcon HS | Palmer HS |
| Cheyenne Mountain HS | Fountain - Fort Carson HS | Palmer Ridge HS |
| Coronado HS | Harrison HS | Pine Creek HS |
| Discovery Canyon Campus School | Lewis-Palmer HS | Vista Ridge HS |
| Doherty HS | Liberty HS | |
| Rent to Own in Jefferson County | ||
| Arvada West HS | Fairview HS | Pomona HS |
| Bear Creek HS | Golden HS | Ralston Valley HS |
| Boulder HS | Green Mountain HS | Standley Lake HS |
| Broomfield HS | Heritage HS | Thunderridge HS |
| Chatfield Senior HS | Lakewood HS | Wheat Ridge HS |
| Columbine HS | Littleton HS | |
| Dakota Ridge HS | Monarch HS | |
| Rent to Own in Larimer County | ||
| Berthoud County | Loveland HS | Rocky Mountain HS |
| Fort Collins HS | Mead HS | Thompson Valley HS |
| Fossil Ridge HS | Mountain View HS | Windsor HS |
| Longmont HS | Poudre HS | |
| Rent to Own in Weld County | ||
| Berthoud HS | Legacy HS | Niwot HS |
| Centaurus HS | Longmont HS | Poudre HS |
| Erie HS | Mead HS | Windsor HS |
| Fossil Ridge HS | Mountain View HS | |
RENT to Own Any Home you Want! Contact us Now 303-955-4220
Rent to Own Fast and Easy | *NEW to Denver Area Lease Option Program*
Here is a useful link to evaluate your options: http://portal.hud.gov/HudCalculators/
To see if a home not listed on the website is approved, please visit our address checker at: addresscheck.homepartners.com
Total Cost to Rent to Own
Total Cost is the price Home Partners pays for the home, closing costs, make ready and repairs/maintenance costs. Total Cost is used to determine the resident's Right to Purchase prices.
A Rent to Own sample is highlighted below:
| Purchase Price | $200,000 |
|---|---|
| Closing Costs * | $3,000 |
| Make Ready and Repairs/Maintenance Costs | $7,000 |
| Total Cost | $210,000 |
* Includes all costs such as transfer taxes, attorneys' fees, title insurance, other acquisition costs, etc.
The Monthly Rent Slightly Increases
Each year, a resident's Monthly Rent increases by no more than 3.75% over the previous year’s Monthly Rent.
For example, if the Monthly Rent for Year 1 is $1,400 per month, the increase for the next year is $50/month (i.e., $1,400 x 1.0375)*.
Example of Monthly Rent
| Year 1 | $1,400 |
|---|---|
| Year 2 | $1,450 |
| Year 3 | $1,500 |
| Year 4 | $1,560 |
| Year 5 | $1,620 |
Right to Purchase Price Increases
Each year, the Right to Purchase Price increases by 3.5%-5% (depending on the region).
In the example, if the Total Cost of the home is $210,000 and if the Right to Purchase increases by 5% (i.e., Prior Year Purchase Right Price x 1.05)* then the Purchase Right Price for Years 1-5 is as follows:
| Year 1 | $220,500 |
|---|---|
| Year 2 | $231,500 |
| Year 3 | $243,100 |
| Year 4 | $255,300 |
| Year 5 | $268,000 ) |
There are additional costs that the resident will incur if they exercise the Right to Purchase such as closing costs to purchase the home, including transfer taxes, attorneys' fees, title insurance, and the cost of a mortgage loan. As a result, actual total costs to exercise the Right to Purchase will vary.
* Rent will round to the nearest $10. Right to Purchase / Rent to Own Price will round to the nearest $100.
Kenna Real Estate is in no way , Home Partners of America. Hyperion Homes, Home Partners of America act as your landlord if you proceed with the Lease with the right to Purchase Program, Kenna Real Estate is not a mortgage company, does not see your credit, have any imput, or can guarantee you will be approved by Hyperion Homes, Home Partners of America. Kenna Real Estate and irs Agents have no obligation to provide and does not provide financing and cannot guarantee or in any way assure that a resident will be able to obtain a mortgage if and when he/she wishes to exercise the Purchase Right.