Forgive this small rant, but this is happening all over the place here in LA. There are a ton of these Hedge Fund owned property management companies offering "lease to own" programs to renters in our area. Instead of listing their own properties, they have been posting active sale listings to renters, claiming they will buy our listings and rent them back to the person of interest for a sizable application fee and rental premium that goes up by 5% per year.

What's causing an issue for us is their method of purchase. They come in with cash, but low-ball our sellers. Yeah, yeah, we don't have to accept, but it causes a lot of problems with our clients when they see that sort of cash being thrown at them. I also suspect they are syphoning off potential buyers, too.

Anyone else experiencing this? I'd love to hear how pervasive this practice has become around the country.
Santa Monica Realty by the Sea

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