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 JRealty Property Management   Serving Southern California since 1998
DRE # 01857915 
(888) 868-6156  info@jrealty.org
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Lease Option (to Buy) Service
JReaty 4 unit apartment buildingThe Lease Option (also known as Rent to Own) is a service where a tenant has the option, but not the obligation, to execute a purchase agreement at a later time (usually during or at the end of the lease period). There are three separate agreements associated with this service: a Lease Agreement, an Option Agreement, and a Purchase Agreement.


Lease Agreement We execute an extensive marketing and advertising campaign, for Sale and for Lease.  We receive calls from potential tenants and buyers, show the property, run credit and background checks, and process lease applications and agreements.  Click here to read more about our Leasing Service.

 

Property Management We handle all of the tasks associate with full service Property Management, which include billing, maintenance, rents, and more. Click here to read more about our Property Management Service.

 

Option Agreement We execute CAR Form OA, Option Agreement. This agreement, for consideration, gives the tenant the right, but not the obligation, to execute the purchase the asset at a later in time.  

 

Purchase Agreement We execute a CAR Form RPA Residential Purchase Agreement, between the Landlord and the Tenant, which the Tenant has the right to execute, provided a given set of terms and conditions has been met.

 

ACH Monthly Disbursements We deposit all rents directly into your account, via ACH transfers. 

 

Electronic Signature We create and execute documents electronically. We use zipForm, Adobe, and DocuSign software

 

Table of Services

 

·         Make recommendations as to the optimal rent and sale amount

·         Execute a targeted marketing program that highlights the attributes of the property in writing and in pictures

·         Publish For Sale and For Lease advertisements

·         Receive phone calls from potential tenants/ buyers/ agents

·         Prescreen potential tenants for income and FICO score requirements

·         Show space to potential tenants/ buyers/ agents

·         Accept and process rental applications

·         Perform credit and criminal background check,  verify employment and rental history

·         Supervise the signing of the lease agreement, using CAR Form LR

·         Supervise the signing of the option agreement, using CAR Form OA

·         Supervise the signing of the purchase agreement, using CAR Form RPA

·         Receive security deposit and first month's rent from Tenant

·         Communicate with landlord as much or as little as required, via phone and/ or email

·         Document the move-in and move-out conditions, with detailed writing and photos using CAR Form MIMO

·         Handle tenant complaints and physically care for the premises for term

·         Pay all reoccurring and non-reoccurring bills received from vendors or service providers

·         Collect monthly rents, late payment fees if necessary

·         Keep property records and prepare required reports

·         Manage all repairs and all maintenance requirements

·         Provide the landlord with monthly disbursements and statements of cash flow

·         Prepare property for rental/ make-ready preparation

·         Provide Landlord with a Form 1099-MISC

·         Verify Option Agreement terms are met prior to opening escrow

·         Monitor progress toward closing escrow, including the appraisal and the buyers loan approval, all of the way through settlement

·         Ensure all disclosures are met, all legal requirements satisfied

 

Getting Started is Easy!

 

 

Step 1: Call us or complete this form and we'll call you.

Step 2: Electronically view and sign CAR Form PMA, and CAR Form RLA

Step 3: In the next few days, please complete any and/or all of the following (as required): 

1) Complete the New Landlord Questionnaire

2) Pay the security deposit

3) Submit a copy of the keys

4) Assign JRealty as additional insured on your landlord insurance policy; endorsement received by our office

5) Submit HOA CC&Rs, contact information, other rules or regulations, and/or other documentation

 

 

 

Where We Advertise

JRealty Vacation Sign

Our Yard Sign

Our yard sign notifies potential tenants that this property is professionally managed. This sign signals that the owner cares about his/her property

 

 

The MLS We advertise on all of the local and regional MLSs, including Claw MLS, MRMLS, CRIS Net Regional MLS, iJRealty South Cal MLS Locations-Tech MLS, and SoCal MLS.

 

 

Click here for a complete list of MLS locations  

 

 

 

 

 

 

 

 

Other Websites Depending on the property type, we advertise, either directly or through syndication, on all of the websites below:

 

 

 

 

 

Documents We Use/ You Receive

 

The table below summarizes most of the documents that are created, used, and/or provided to you with JRealty's Property Management service. 

 

Group Items in Group A  are used almost always, items in Group B are used often (as needed), and items in Group C are used sometimes, but not very often. 

Provider Items marked/ originate from: CAR/ California Association of Realtors; HOA/ Home Owner Association; JR/ JRealty.

Short and Long Title are short and long form titles of each document.

 

 

Group Provider Short Long
A CAR PMA Property Management Agreement
B CAR KLA Key Lockbox Agreement
A CAR LRA Application To Rent
B CAR FLD Lead Based Paint Hazard
A TU CRD Credit Report
A TU CRM Criminal Report
B HOA CCR Rules And Regulations
B CAR ADM Addendum Page
A JR POL Policies and Procedures (Numerous)
A CAR RLA Residential Lease Agreement
A CAR MIMO Move In / Move Out Inspection
CAR OA Option Agreement
A CAR RPA Residential Purchase Agreement
       
       
CAR NOE Notice Of Entry
C CAR CTT Notice Of Change In Terms Of Tenancy
C CAR NRI Notice Of Right To Inspection
       
       

 


 

 

 

 

 

 

 

 

 

 

 

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