Sell and Rent Back
This is a relatively new term in the property market. Sell and rent back refers to a situation where someone wishes to sell and then rent back their home. At first this may seem like an unusual thing to do, why would someone not want to own their own home?
Sadly the need to sell and then rent back a house, flat or other property usually arises due to people falling behind with their mortgage payments. Often the result is repossession, not a pleasant experience, losing your home and very often left with further debts from the repossession process.
This is where the option of selling your home to another company and then renting it back can prove to be an attractive alternative. With this option the home is not lost, no disruption to the family, and very often rental payments are lower than the mortgage payments. Add to this it is often possible to get long term fixed rental contracts, a much easier way to manage future costs. So, sell and rent back does have its place, it really depends on individual situations as to whether it is the right choice.
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