| Accessible home value | 100% |
| Remain in home? | Yes |
| Length of process | Typically 30 – 45 days |
| Availability | All 50 states |
If you own your home, you might have encountered times you wished you were a renter again. For instance, when the water heater breaks or you need new windows (to the tune of tens of thousands of dollars)—or you wish that you had the liquidity from your home without needing to move right away. Renting your property can sound like a much better deal than owning it at times.
A home-sale leaseback can give you the best of both worlds, allowing you to tap into your home’s value without selling the property right away or taking on an additional debt. Instead, you can sell your home to a company such as Sell2Rent and then continue living there as a renter, without the headache and hassle of selling and maintaining a property.
Here’s a look at what Sell2Rent offers to homeowners across the country, how this strategy works, and why you might consider selling then renting back your own home.
In this review:
How to sell your home and rent it back with Sell2Rent
Selling your home can be a real pain: repairing, staging, cleaning and showing the property, and negotiating with potential buyers. You may need to make concessions, agree to more repairs, or even renegotiate your sales price after inspection. And in the end? You’ll need to move your family out of your home and find a new place.
Companies such as Sell2Rent give you another option. With Sell2Rent, you can sell your home to an investor, accessing its value and any equity you already held in the property. You don’t need to worry about showing your home to multiple buyers, finding the right realtor, or even marketing the property. You’ll get an offer from a matched investor and often have as long as 30 days to make a decision.
And when all is said and done, you can remain in your home for as long as you’d like. This is a terrific option for anyone looking to sell their home and liquidate their asset without anyone else—neighbors, family, or friends—being privy.
Founded in 2019, Sell2Rent is a home-sale leaseback program designed to let you keep your home while enjoying the benefits of a cash sale. Once the transaction is complete, you can rent your home back from your buyer investor at a fair market price with no lapse in occupancy and no need to search for a new home.
Sell2Rent is available to:
- Single family homes
- Townhomes
- Owner-occupied properties
The sales process can vary in length and complexity depending on your home, but Sell2Rent expects you to have an offer in hand as soon as five days after it receives all property information. Sell2Rent estimates it will take between 30 and 45 days to complete the entire sale of your home.
Before selling your home to a matched investor, you’ll have the option to rent it back at a fair monthly cost. These terms are customized and agreed upon by you and the investor. The new owner (also your landlord) determines the rent, and you’re not obliged to stay in the property beyond the lease agreement you sign. Depending on the investor, you may need to submit between one and three months’ rent to the new owner in addition to a security deposit.
Traditional home sale vs. Sell2Rent home-sale leaseback
| Traditional home sale | Sell2Rent home-sale leaseback | |
| Can you remain in the home? | No, unless a rent-back period is part of the purchase agreement | Yes |
| What is the accessible home value? | 100% | Determined by investors on market data and other information |
| Do you have the option to enjoy further home appreciation? | No | No |
| Transaction costs | Around 1% – 2% for closing costs; Realtor fees | Around 1% – 2% for closing costs; Realtor fees if you bring an agent into the transaction; 6% for Sell2Rent fees |
Sell2Rent by the numbers
Costs are involved with selling your home to Sell2Rent. These include:
| Sell2Rent costs | |
| Closing costs | 1% – 2% of the home’s value (not charged by Sell2Rent) |
| Real estate commissions | Only if you bring your own agent into the transaction; Varies from 3% – 6% |
| Transaction fee | 6% of the home sale |
| Monthly rental payment | Mutually negotiated between you and the buyer |
That’s it. If your home requires repairs after the inspection, you’ll need to negotiate those with the buyer. You might need to cover the cost of repairs. Otherwise, though, you won’t pay anything else out of pocket to use Sell2Rent.
Pros and cons of a Sell2Rent home-sale leaseback
As with any financial decision, consider the benefits and downsides to using Sell2Rent for a home-sale leaseback arrangement.
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Sell your home quickly, without the hassle of marketing, staging, showing, or dealing with multiple potential buyers. -
Liquidate one of your biggest assets, and use the cash for other projects without leaving your home. -
Continue renting your home back from your investor buyer for as long as you’d like, at a fair market price. -
No more property maintenance or unexpected expenses: Your new buyer will cover property taxes, insurance, repairs, and regular maintenance. -
Sell your property discreetly: You can stay in the home after the sale, so no one else needs to know you sold.
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Lose out on any future equity growth of your home. -
Rather than paying down a mortgage balance, you’ll make rent payments that don’t build equity. -
The process can be simpler than selling on the open market, but your home is marketed to a limited buyer pool of investors. This may limit the number and quality of offers. -
The process can take about 30 days from accepted offer to close, so you may not save much time compared to a traditional home sale.
What do Sell2Rent’s customers say about the company?
Aside from understanding how a company runs and the products it offers, you may also want to get a idea of how well those products and services work. One of the best ways to do that is by seeing what current and previous customers say.
Customer reviews and ratings can be a terrific way to get information about a company from someone with firsthand experience.
Reviews from Trustpilot and the Better Business Bureau are among the most reliable customer ratings. But Sell2Rent is a newer—and smaller—company, so it doesn’t have customer reviews on either of these trusted platforms as of April 2023.
How do I apply with Sell2Rent?
If you think selling your home with Sell2Rent could be right for you, here’s what to expect from the purchase offer application process.
- Fill out the online form, and provide Sell2Rent details about your house. This information ranges from the type of home you own (e.g., single-family home versus townhouse) to why you plan to sell and whether you want to move or stay in the property.
- Provide your name, email address, and cellphone number.
- Provide financial details about you and your desired deal. This means entering the remaining mortgage balance for your home, your current total household income, your credit score range, how much you think your home is worth, and what you’re willing to pay in monthly rent to stay in your home after the sale.
- Give Sell2Rent the property address. This allows the platform to look up your home and market it to interested investors.
Once you’ve submitted your information, you’ll be matched with potential investor buyers within the next five days or so. You’ll have a chance to review these buyers’ offers and, if interested, proceed with accepting one.
Does Sell2Rent have a customer service team?
Need help or have additional questions? You can reach Sell2Rent’s customer service team several ways.
- By phone: Call the customer information line at 1-800-954-6373.
- By email: If you prefer, you can send a message to the Sell2Rent team at [email protected], and a team member will get back to you.
- By online form: You can submit your questions or concerns through the contact form on the company’s website.
- In person: If you’re in the Miami area, you can visit Sell2Rent’s sole office location and speak with someone face-to-face. The office address is 19790 W. Dixie Highway, Suite 501, Miami, Florida 33180.
Sell2Rent alternatives
Not sure if selling—and then renting—your home through Sell2Rent is the right move? Here are alternative options to consider.
- Sell your home the traditional way. To get out of the responsibility of owning and managing your home, you can sell it and walk away. This option doesn’t typically allow you to stay in the property, but it will release you from your obligation to the home and give you access to your cash equity.
- Borrow against the equity. If you’re looking to tap into your home’s value, many other products and home equity companies allow you to do so without selling your home. Home equity loans, cash-out refinance loans, and home equity lines of credit all let you borrow against your home’s value and use that cash for any number of purposes.
- Sell your future equity. If you want to borrow against your home’s equity but don’t want to take on an additional monthly payment for the debt, selling your property’s future equity growth could be an option. Companies such as Splitero allow you to sell investment shares of your home today for cash. Rather than repay those funds monthly, you’ll repay Splitero in the future—along with a portion of the home’s future value growth—or when you sell.
