If you’re struggling with a poor credit score but have a dream of owning your own home, rent-to-own could very well be the best option for you. The problem is that many people don’t fully understand the rent-to-own process and it’s benefits, so it gets overlooked all too often. For those with bad credit, rent-to-own is the key to the lifestyle you’ve been dreaming of, and MyReview wants to help you make sure you work with the best of the best. So off we go, here are the best rent-to-own resource companies.
| Membership Cost | In Business Since | Listings Updated Daily | Reputation Score |
|---|---|---|---|
| $49.95 per month | 2005 | Yes | 9.7/10 |
| Membership Cost | In Business Since | Listings Updated Daily | Reputation Score |
|---|---|---|---|
| Varies | 2010 | Yes | 9.6/10 |
| Membership Cost | In Business Since | Listings Updated Daily | Reputation Score |
|---|---|---|---|
| Varies | 2009 | Yes | 9.3/10 |
| Membership Cost | In Business Since | Listings Updated Daily | Reputation Score |
|---|---|---|---|
| Varies | 2007 | Yes | 9.1/10 |
Who you choose to work with during the rent-to-own process matters. It could be the difference between actually being able to purchase your home at the end of your lease agreement or not. Here’s a quick table of the companies we know are the best of the best and will give you the highest chance of success.
| Rank | Kind of Service | Rating | Business Since | Expert Rating |
|---|---|---|---|---|
| #1 | MyRentToOwn | A+ | 2005 |  9.7/10 |
| #2 | Home Ownership Group | A | 2010 | 9.6/10 |
| #3 | Rent2OwnDeals | A- | 2009 | 9.3/10 |
| #4 | RentAndOwnListings | B+ | 2007 | 9.1/10 |
Guided by:
Kim Jones, Finance Editor
1. How Does Rent-to-Own Work?
Rent-to-own is a process through which you can buy a house after renting it for a certain amount of time. You’ll work out a deal with the owner of the home so that you can live in the house and rent it before you actually purchase the home. There are multiple benefits to this system, especially for those who struggle with bad credit or don’t have the money for a down payment.
2. Why Rent-to-Own?
For those stuck in difficult financial situations, rent-to-own has many benefits. A lot of people dream of owning their own home, but don’t have the financial means to do so at the moment. Rent-to-own allows you to work toward that dream of owning a home at a reasonable pace. You can live in the home, experience the neighborhood, save money, build credit, and generally enjoy the home while building a healthier financial profile. Once your lease agreement ends, you can then purchase the home from the owner. One of the best things about rent-to-own, and the reason it’s so great for people who don’t necessarily have thousands of dollars sitting around for a down payment, is that part of your rent each month can go toward the down payment for the house. So, when you’re ready to purchase the home, the down payment is all there.
3. How is Rent-to-Own Different from renting?
Rent-to-own is different from renting in that you have the option to purchase the home after your rental agreement, or lease agreement, ends. There are options you can put in that agreement that make it so that you don’t have to purchase the home, but you have the ability to if you so choose. Rent-to-own makes it much easier to purchase a home if you’re struggling to save for a down payment or can’t get approved for a loan due to bad credit.
4. How Long Does Rent-to-Own Take?
This depends on the agreement you come to with the owner of the home. It varies based on situation, so it could be anywhere from a year to 2-3 years. It’s all up to you and the current owner of the home. During the rent-to-own process, it’s important to have professionals look over any agreement documents before you sign them to make sure the contracts are beneficial to you as well, not just the owner.
The average credit score of American consumers:
350-650
651-700
701-750
751-850
by Edna McClelland | 01/05/17
by Edna McClelland | 01/05/17
by Edna McClelland | 01/05/17
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Rent-to-Own: Best Companies of 2017
1. MyRentToOwn 
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