In summary, if you`re looking for a way to rent a property in California with the option to eventually buy, a lease option agreement might be the right choice for you. Just be sure to understand the legal requirements and consult with an attorney to ensure a successful transaction.
“When you do a lease option, you're betting that you're going to qualify for a mortgage and be able to execute and buy the property,” says Timothy McFarlin, a California real estate attorney. “Make sure you have a path to do that.”
An initial decision to be made when it comes to employee housing is whether you want your employees to occupy your housing as a tenant, or under a license. A license means that the employee is there under the owner's permission, and housing is connected directly to his or her employment.