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Rental Rate Home Search
|Rental Rate (Monthly)||Home Price||Search|
|$2,000 – $2,250||$200K – $300K||Click Here to Search|
|$2,250 – $2,500||$300K – $375K||Click Here to Search|
|$2,500 – $2,750||$375K – $425K||Click Here to Search|
|$2,750 – $3,000||$425K – $500K||Click Here to Search|
|$3,000+||$500K+||Click Here to Search|
Hey everyone. This is Ken Blevins with Metrowest Real Estate. I appreciate you being here today. The reason you are here is that you expressed interest in renting a single-family, residential home and or a townhome. And so in the past, it’s always been easy to go out and rent an apartment, but there have been slim pickings when it comes to single-family, residential homes and being able to rent them. That’s why I’m excited to announce we’re working with a great company out of Chicago, they are a national home buyer, and they are working in the Denver Metro area, as well as Fort Collins and Colorado Springs.
They are adding to rental properties to their portfolio. So they vet you first, then you work with us to go and find a home that’s currently active on the MLS, and I can tell you right now there are over 1200 homes and townhomes that meet the requirements of home partners that are available right now you get to pick number of bedrooms, bathrooms, the area you want to live, the school district you want to be in, if you need a backyard… that’s the other thing pets are allowed. So dogs and cats, and that’s the beautiful thing, you’re not stuck in an apartment anymore… you can get into a single-family residential home of your own.
Now, there are some qualifications. You do have to have an annual household income of $65,000 and that’s for anybody that’s on the rental application over the age of 18. Their income is included, and so it’s the household combined income. Doesn’t just have to be your income. Has to be at least $65,000. So if you want to go out and find three or four friends to all rent a house together, more power to you. That’s a welcome opportunity. The minimum credit has to be 580. And so it’s an amalgamation of everybody that’s in the house, their credit plus their income to figure out if you meet that 580 credit score. Which to get a traditional loan it’s 620, so this is a much better program. If you’re a little bit credit challenged, there’s a great opportunity here as well.
Rental rates do start at $2,000. So again, we’re talking about a house that would sell for $400K, $500K, $550K in the Denver Metro area. And so it’s typically what a mortgage would be on these homes. So you’re looking at $2000-$2,500 monthly rent depending on how high of a home price that you choose.
You need to have stable employment. No history of eviction or landlord issues. No pending bankruptcies. So if you had a bankruptcy that was discharged yesterday, you’re good to go. But if you’re in an active bankruptcy, you have to wait until you’re out of it before you can apply for the program. And then no disqualifying criminal history. So no felonies, certainly no sex offenders, things like that.
So as long as you meet these minimum requirements, we can get you vetted for the program, get out there and start looking for a house and get you into a single-family house today. And so the beauty of this program is you have five years to lease the home. After the first twelve months, you can walk away at any time. And so it’s just like a traditional lease. Any other lease you would sign and we’d have to be for a minimum twelve-month period. That’s the way this program works as well. But after twelve months you can walk away and you get your full security deposit back.
So there’s no down payment, no money you have to come out of pocket other than the security deposit upfront. So again, just like any other traditional rental. The bonus that this comes with is an option to purchase the home. So you can lock the home in at today’s rate, earn equity on it and if you decide that, hey, I do like this house. I do like my neighbors. This is where I want my kids to go to school. Great. You have up to five years to exercise that. Option and buy that home so you can lock it at today’s equity. But again, no obligation to do so. Stay in the house for twelve months and you can walk after that and get your full security deposit back.
So it’s really all the best of both worlds. You get to pick and choose the place you want to live, single-family residential home, and you have up to five years that you can lease it. And then you only have to obligate it to the first twelve months. And then that option is a great program as well.
So think about it from this standpoint. Say you were in the house for a period of, say three to four years, and you decide, you know what, this is the house for us. But you’ve already seen this equity building in the home. Buy it. I’ll help you resell it. You can take that equity out in cash and then turn around and buy your forever home or whatever the next evolution in your life plan might look like. So it’s a really good program. It’s got a lot of options and I’d love to explain it to you further.
You’ll see down below is a calendar invite. You can schedule with myself or my team, a Zoom call. We can do an in-person meeting, or we can just jump on a phone call if you want to hear more about the program. Also on this page as the application. So if you want to go through those pre-qualifying questions that I just went through before to see if you do qualify, you can certainly fill that out as well.
So that’s it. Feel free to reach out to me or my team. We’d love to talk to you further about the program. It really is a fantastic program if you’re looking to rent a home in the Denver Metro area. And that’s it. Thanks for watching. We hope to hear from you. Have a great day!!