R2o mobile homes

We all need somewhere to live, and we almost always have to pay for it. The classified ads are showing more properties listed as Rent To Own, or R2O. There are a lot of stories and rumors about R2O; if you look at real situations, you will often find that using rent to own to purchase a mobile home makes good sense. In our local paper recently, there were almost as many rent to own ads for mobile homes as there were ads for mobile homes for rent. When I went to look at three homes from each category (all within about a mile of each other), the R2O homes looked just a little bit better (more curb appeal) than the simple rental properties.
When you rent, you usually pay a deposit up-front; with R2O, you have a down payment. When comparing the different properties I looked at, the deposit/down payment was very close, as was the monthly payment. If you are planning on staying in the home, it seems like it would just make sense to go with the option that allows you to acquire ownership of the property. There are two other questions that you should look at.
The first question is about maintenance. In many rental agreements, the tenant is responsible for maintenance items below a certain dollar amount; in some R2O, the seller will cover some repairs in a given time span. Each contract is different, look at what is covered under the one you are considering signing.
The second question is what happens if you move before you finish paying for your R2O. Many rental agreements have early termination penalties; what does the R2O you are considering say about cancellation? Can you sell the property and use the proceeds to pay off your R2O and keep the difference? Or can you just walk away with no penalty?
Many people own their first home with R2O; you should look into the R2O options available to you before just renting your next mobile home.
Jays rent to own