Renter and Homebuyer Program
Reliance Realty maintains a large database of Landlords with available Rentals all over Florida. We have an agreement with each Landlord to fully process prospective Tenant applications and ensure that each Tenant we send meets the Landlord’s qualifications. Once we complete a Tenant’s Application, have proof of income and a copy of the credit history, we can automatically connect that Tenant with Landlords/Rentals that meet their criteria. A Tenant’s criteria consists of their income, credit history, pets, bedrooms/bathrooms and rent amount. Some Tenants initially cannot qualify for the Rental of their choice due to poor credit history. If that is the case, we enroll these Tenants in our brief credit repair program in order to get them into the Rental of their choice. This is not uncommon in the current rental market. Currently, there are more Tenants than there are available Rentals, especially Rentals that are more affordable. Once a Tenant’s credit has improved to the point where it meets the Landlord’s qualifications in the Rental (s) of her choice, we can quickly place that Tenant into one of these Rentals. Either way, Reliance Realty will work with each prospective Tenant to find a place that is suitable. Once we place a Tenant into a Rental, we can always improve their credit even further while they are renting so we can upgrade them into a more desirable Rental once the lease expires or place them into our Homebuyer Program to purchase a home.
Once we place a Tenant into one of our Rentals, we can also enroll the Tenant in our Homebuyer Program. A normal lease term is usually 12 months and that is roughly how long it will take for a Tenant to complete our Homebuyer Program and find a home to purchase. This gives us enough time so that when a Tenant’s lease has expired she can buy a home instead of continuing to rent. This program is designed around the qualifications used by FHA/VA/Fannie Mae or Freddie Mac in order to qualify for a mortgage. Down payments and closing costs are not a problem! In today’s real estate market, a Homebuyer you can oftentimes buy a home with very little or nothing down. Most Sellers are willing to give the Homebuyer concessions (the word we use for money) in order to complete the purchase of their home. There are also other first-time Homebuyer programs that we will try to qualify each Tenant for. In addition to Seller concessions and first time Homebuyer programs, Reliance Realty will also give the Homebuyer 1% of the purchase price at closing. The combination of our 1% of the purchase price, Seller concessions and first-time Homebuyer programs will provide enough so that your down payment and closing costs will be zero or very little. Once a Tenant has fully completed our Homebuyer Program, one of our real estate agents will find her a home to purchase, so that she can go from a Renter to a Homeowner!