Do you want to rent or own a storage unit? There are pros and cons to each option and are very dependent on the situation. For example, if you lease an office or travel frequently without a stable place to live, rentals make the most sense. However, if you are a homeowner with no plans to move in the immediate future, buying and installing a storage unit on your own property will save you money in the long-run. But what if you don’t have the money right now to buy the storage building you need? Have you ever considered rent to own sheds?
The ‘rent to own’ or ‘lease-option’ is a term familiar within the world of real estate. For years now, prospective homeowners have opted for the rent to own agreement in order to have time to get to know the neighborhood and live in the home before they decide if it’s truly for them. It also helps prospective owners who may not have the cash right now for a down payment.
Rent to own sheds work almost in the same manner. The prospective buyer signs a lease agreement with the lender who is typically a locally owned company that specializes in manufacturing storage sheds or carports. The tenant agrees to rent the unit for a specified amount of time at the standard rental rate while paying a little extra. The extra money you contribute each week eventually goes toward purchasing the shed outright.
Rent to own sheds are a really good option if you do not have all the funds to buy the storage building at the moment but could desperately use the extra space now. It also gives you time to decide if the size of the structure is fitting to amount of storage you need as well as build a rapport with the company providing the shed.