Lease-Options, "Rent To Own" Gaining In Popularity As A Way To Unload An Unsold Home?

The South Florida Sun Sentinel reports:

• In South Florida's depressed housing market, some people are taking a wait-and-see approach by renting with an option to buy later. Leasing is still more common with cars, but the concept is spreading. Sellers are willing because they're struggling to unload their properties, and a rent-to-own contract brings in cash. Prospective buyers also are game because credit is tight, and they can build equity while they take time to qualify for mortgages.

For more, see Rent-to-own home leases becoming more popular (Lease-to-own agreements risky for owners, tenants).

For a somewhat critical view of rent-to-own deals, see Minnesota Public Radio: Rent-to-own homebuying on the rise, and so are problems.

Go here and go here for stories on how easy some tenants found it in getting screwed over in these lease/option, "rent to own" and contract for deed real estate deals. rent to own lease purchase option scams yellowstone