None. You rent the building while you are making payments on it. We are regulated by the Oklahoma Department of Consumer Protection and use the same basic 36-month contract that other rent-to-own programs use. The state dictates the terms, specifying that 60% of your monthly payment shall pay the purchase price of your building. The other 40% pays rent for that month. To illustrate, if you buy a building worth $3000, your contract will show that you owe $5000. And of every $100 that you pay, $60 will be paying on the building and $40 will be paying rent. The good news is . . . you don’t have to pay rent for 36 months! You can pay your building off at any time and the rent payments stop. Your pay-off amount will be just 60% of your contract balance.
Posted in: General FAQ