Sell2Rent works a bit differently than other home-sale leaseback companies. Instead of receiving an immediate, your property details will be shared with Sell2Rent’s network of investors to find an offer. This can take several weeks. Eligible properties include single-family houses and townhouses.
What we like:
Sell your home (and the headache) but continue living on the property
|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 sometimes sound like a much better deal than owning it.
A home-sale leaseback can give you the best of both worlds, allowing you to tap into your home’s value without moving right away or taking on additional debt. Instead, you can use a real estate platform like Sell2Rent that connects you with its network of investors to sell your home and continue living in it as a renter.
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
- Sell2Rent by the numbers
- Pros and cons of a Sell2Rent home-sale leaseback
- What do Sell2Rent’s customers say?
- How do I apply with Sell2Rent?
- Does Sell2Rent have a customer service team?
- Sell2Rent alternatives
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 after an expert property evaluation. 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 rent back 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 leaseback 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 homeowners with the following properties:
- Single-family homes
Other requirements include:
- At least 20% of your mortgage must be paid
- The lot size should be under once acre
- The house must have been built after 1950
- The house must be valued below $750,000
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 negotiate the terms with the investor. The security deposit is up to the investor, and if any prepayment is required, it will be negotiated between both parties. 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.
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, while paying rent|
|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 6%||Around 1% – 2% for closing costs; Sell2Rent fees up to 6%|
Sell2Rent by the numbers
Costs are involved with selling your home through Sell2Rent, though there are no upfront fees. These include:
|Closing costs||1% – 2% of the home’s value (not charged by Sell2Rent)|
|Transaction fee||Up to 6% of the home sale|
|Monthly rental payment||Mutually negotiated between you and the buyer|
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.
Sell your home 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.
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.
May not receive the retail price because Sell2Rent is not a traditional buyer looking to purchase the home for personal use.
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.
No buyback programs are available.
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 an 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.
Reviews from Trustpilot, Better Business Bureau, and Google are among the most reliable customer ratings. As of August 2023, Sell2Rent has two five-star reviews on Google. Reviewers noted a positive experience working with the Sell2Rent team.
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.
- Enter your property address into an online form.
- Choose which program you are interested in: Sell and Stay or Sell and Move Out.
- Explain why you are selling the property and provide the title ownership and an estimated time in which you plan to sell.
- You’ll then be required to confirm the type of property you will sell, the estimated sale price, and the balance of any outstanding mortgages.
- If you selected the Sell and Stay program, you’ll have an additional step where you’ll be asked about your desired rental price, credit score, and total household income.
- The final step is to enter your contact information to begin the process and provide the necessary documentation so Sell2Rent can correctly evaluate the property and work on an estimated offer.
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.
- 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.
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.