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Albert wanted to sell a house that he owned, but the residential real estate market was making it difficult for him. He decided to rent the home, giving the tenant the option to buy it. Known as Rent-To-Sell, Albert intended to keep the house on the market and sell it as an owner-occupied property to another investor. But then Albert realized the challenges of finding a suitable tenant that would eventually purchase the house. His busy career as a physician left him little time to find a good tenant, maintain the property and take care of the other responsibilities of managing it.

Albert’s experience is common among new or inexperienced investors that try to go it alone without proper planning and guidance. For a more positive Rent-To-Sell experience, you should seek the assistance of a qualified real estate agent and a reputable property manager. Here are some tips that will help you to find appropriate professional help.

Call at least three real estate companies. If you don’t already have a relationship with a real estate agent with experience working with investors, then call at least three local real estate companies and ask for someone who is knowledgeable about selling investment properties. Interview agents until you find someone with whom you are comfortable and you trust. Be open and upfront about what you are trying to accomplish through the Rent-To-Sell process and ask them specifically about their experience with rent-to-own transactions. Questions may include:

• Have you ever executed a rent-to-own contract? If so, how many?
• Is it an issue if I hire a property manager to market the home as well? What would their commission be under this scenario if the property manager filled the property and not them?
• Can you recommend a property manager that is familiar with rent-to-own?
• Do you work with investors that are looking to buy homes with tenants in them?

Hire a property manager. Once you have hired a real estate agent that meets your criteria and with whom you are comfortable, then it is time to hire a property manager. The purpose of hiring a qualified property manager is to get the market rent for your home, advice about properly showing your house to get it rented quickly, and to take advantage of the property manager’s marketing of your house for rent and rent-to-own. The following process for finding the right property manager is similar to hiring a real estate agent.

Call at least two local property management companies and set an appointment to meet with each property manager at their offices. Be open and upfront about what you are trying to accomplish and ask them about their experience with rent-to-own properties. Questions may include:

• Have you ever executed at rent-to-own contract? If so, how many?
• Is it an issue if I hire a real estate agent to market the home as well? What would their commission be under this scenario if the real estate agent filled the property and not them?
• Can you recommend a real estate agent who is familiar with rent-to-own?
• Do you work with investors that are looking to buy homes with tenants in them?

Your property manager and your real estate agent should work as a team whenever possible. Your real estate agent should ensure that your home is listed through the Multiple Listing Service (MLS) and your property management company should market your home for rent and rent-to-own on its Web site and other online listings. Your real estate agent should put a lockbox on your door and your property manager should have the ability to enter the house using that lockbox. They should cooperate on signage in your yard indicating the house is available for sale, for rent and rent-to-own. And they should both offer guidance on how to make your house look good for showings to buyers and tenants.

Concurrently marketing to buyers, tenants and investors in this way will maximize your efforts in today’s real estate market.