Rent-back agreements are a great way to access your home’s equity without moving out. Learn more about rent-back agreements and how they work here!
Your home is both an investment and a space to live and flourish. And over the years, its monetary and sentimental value has grown alongside you and your family.
No matter how much a house is worth, however, its value does no good to you locked inside the walls. You’d never dream of leaving the home you love, but you sure do dream of all the things you could do with the cash you’d get for selling it.
A rent-back agreement can help you access your home’s equity without having to leave it. Read on if you want to learn how to get a lump cash sum without giving up the life you love.
In a rent-back agreement, a homeowner sells their house to someone who agrees to rent it back to them afterward.1
That’s about it, and they’re becoming increasingly typical with house sales. Generally, the home seller and home buyer sign a 30- to 60-day rent-back agreement to allow for a transitional rental period between owners.2 Rent-back agreements can last for as long as both parties care to uphold them, however.
Rent-back agreements can be helpful for homeowners who want to change their life but not their address. Some of the primary benefits include:
Rent-back agreements can help you take care of sudden medical debts and other liabilities or simply live a healthy and rewarding life. Still, if you’re considering one for your home, there are a few important things to take note of.
While there are benefits, there are also some rent-back agreement risks to be aware of, so understanding the terms is critical. Rent-back agreements are unique between the home seller and home buyer, so factors such as costs and terms will vary by sale. That being said, there are some associated fees and situations that generally hold true across most of these contracts:
If a rent-back agreement sounds like the right fit for your home and situation, you might be wondering who offers such a service.
Through our Sale-Leaseback, we help you unlock the equity in your home to use for the things you want and need. If you think a rent-back agreement is right for you, or have more questions about them, then don’t hesitate to get in contact.
We give you a fair rate for your home—both when we buy it and when we rent it back to you. If it seems too good to be true, that’s because it’s not just true, it’s Truehold.
1. United Kingdom House of Commons. The Regulation of Sale and Rent Back Agreements. https://researchbriefings.files.parliament.uk/
2. Forbes. Seller Rent-Backs Can Be A Powerful Tool In A Buyer's Toolbox. https://www.forbes.com/
3. USA Today. How much are property taxes across the US? Differences can be in the thousands of dollars. https://www.usatoday.com/
4. Truehold. FAQs. https://www.truehold.com/
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