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General questions

Rent-To-Own or RTO, is a rental contract that allows you to pay rent for 2-5 years and own the building at the end of the contract.  The low up front cost makes it easy to get started. The monthly rental payments are kept low to fit your budget. After making the final rental payment, you take ownership of the building. It’s that easy!

RTO is a rental agreement with the option to purchase. It is not a loan. Therefore, there is no interest or principle. You are simply paying rent until you exercise the option to take ownership. At the time of payoff, part of your monthly payments paid are applied toward the purchase of the building. For example, on a 36 mo contract, 60% of your payments are applied toward the purchase.

Since this is a true rental contract,  there is no principal to apply extra money to. Extra money received will be applied to future payments.

No. The purchase option is a one-time, lump sum purchase of the building. If money is paid that is not the total purchase amount, it will be applied to future month’s rent.

There is a grace period given up to ten days after the due date. The payment must be postmarked or paid electronically that time or a late fee will be applied.

Other questions

We will come pick up our building if you fail to make your payments.

The contract on the building cannot be re-written or the monthly payment amount lowered. Call our office to ask about possible alternatives.

This is a rental contract. Therefore you are not entitled to a refund if you return the building.

Please notify our office that you are finished with the building and we will arrange for pickup.

Leasing questions

All we need to begin this program is a signed contract agreement, your first month’s lease, and a security deposit. Then you will make one payment per month thereafter. Payments are based on 36, 48, or 60 months, whichever term you choose.

  • It is much easier to get the needed equipment when starting up.
  • You may be needing to do a loan for some other reason such as a house and do not want this to show up on your credit at this time.
  • You are currently renting equipment knowing that nothing of the rental that you are paying each month is gaining you any equity and you would like that to change.
  • You are wanting to expand but are not sure if you really want to commit to buying more equipment and would like to give it a try first to make sure things will work out before committing to a loan or purchase.

We do require a 4 month commitment but anytime after that you are free to return any equipment that you decide that you do not want to continue to lease.

We will gladly help you to make this switch and will apply the normal portion of your lease payment toward the payoff in the same way as if you were doing a payoff. This is a very good way to test the waters and then switch to a lower cost alternative.