Renter wants to lease to own?

[Victoria King]

We have potential renters who want to lease to own. They can afford the monthly payments but don't have the downpayment for the house saved yet- they have a plan to do so in the next year.

We offered to allow them to rent  at a lesser rate for a year (to help them save for the house) and they be responsible for small repairs and at their lease renewal we touch base and see if they want to buy. They really want to lease to- own, however, and set the price now with an addendum if it greatly appreciates or depreciates.  We are in a greatly appreciating market.

The red tape worries us about lease to own (and the headache). But we don't want to pass up a good opportunity (we plan to sell it in the next few years) because of ignorance of this process.

Thank you so much for any insight or experiences you might share!

[Omar Khan]

@Victoria King Going off your post, I would suggest against lease-to-own for the simple reason that it adds unnecessary complications given the market you are in. 

It shouldn't be that hard to find renters in Dallas. You can always choose to sell the house at a later date without any complications. 

Save yourself the hassle and inconvenience. Start off simple.