DiNuzzo said that between 60 and 75 percent of those who lease the home will eventually end up buying, and the money they pay during the lease period will prove to the mortgage companies that they are responsible enough to handle a mortgage on the house.
According to Prince, "The price of the lease does include taxes."
Prince is mainly responsible for showing the homes and dealing with the people who will move in once they have found one that suits them financially.
"We work with such a range of people," said Prince.
This range, she said, includes young families, migrant workers, people who are in the middle of legal proceedings who are advised not to purchase anything and people with negative or no credit. The lease-with-option-to-buy provides these people, who may need more room than an apartment can provide, the ability to live comfortably while managing their finances, DiNuzzo said.
The lease-with-option-to-buy homes are not only advantageous for the tenants however, said DiNuzzo. They create a more positive outlook for the entire housing market, he said, as they are bringing homes off the market.
In the past eight months since DiNuzzo set up a Web site that allows users to apply online for a lease-with-option-to-buy home, he said his business has extended to include people looking for homes, as well as people selling their homes. Since the Web site has been up, DiNuzzo and Prince have placed families in 40 homes. They are hoping to expand their business to include the New York City area and parts of Florida.
To learn more about a lease-with-option-to-buy home, call Prince at 533-8666, or visit the Web site at www.leasewithoption.biz.""