So say we require $2000 down for a home being sold on Rent Credit and the scenario looks like this:
Total Payment for home: $575 per month, total up front out of pocket as follows:
Home Rent: $350
Home Sec Deposit: $350
Lot Rent: $225
Lot Sec Deposit: $225
The total is: $1150
Leaving $850 to be applied as:
- Additional non refundable deposit transferable as Rent Credits at the end of the term?
- Rent Credits purchased up front to be used at the end of the term?
- Other? If so, what?
I will say the amount of paperwork for this is a bit exhausting. It requires:
- Park Lease Agreement
- Home Rental Agreement
- Rent Credit Agreement
- Park Rules
Hows your experience and is there a better/simpler way?