Frequently Asked Questions
Rent & Security Deposit
- No down payment required
- Two months security deposit and first month rent is required
- Verification of funds will occur prior to move in date
Restrictions on selecting a home are as follows:
a) 3+ bedrooms/ 2+ bathrooms minimum.
b) The property must be a single family home.
c) Property must be located in an approved high school district. (see community page)
d) Traditional sale only (no Short Sales or Banked Owned)
Your initial lease term is for one year and your lease will automatically renew every year as long as you are in compliance with the Lease and all agreements. Before the end of your Lease term, you will have the right to give notice to not renew the lease for another year. If for any reason you decide to vacate the home at the end of your lease term and you’re in compliance with the Lease, then your full security deposit will be returned.
Because your financial commitment is limited to the initial one year Lease, you will not be required to renew the lease after the initial year. The maximum number of Lease term years is five in the State of Florida.
Purchase Right Agreement
What is the Purchase Right Agreement? It’s the agreement that gives you the right to purchase the home at a pre-defined price for each year of the Lease, as long as you are in compliance with all agreements. The Purchase Right does not obligate any resident to buy the home. Your Purchase Right Agreement will be in effect as long as the lease is in effect, and you, the resident, is in compliance with all agreements.
Within 24-48 hours of a seller accepting the offer, you will be required to sign both the Lease and the Right to Purchase Agreement. You will have an opportunity to review all documentation and you are encouraged to consult legal counsel to review documents prior to signing them.