Prepare for a Storm Surge. A storm surge is water that is pushed onto shore by a hurricane. It is rarely a wall of water as often claimed, but rather a rise of water that can be as rapid as several feet in just a few minutes. The storm surge moves with the forward speed of the hurricane â typically 10-15 mph.
Rent to Own Homes: Definition A rent-to-own strategy, also known as a âlease optionâ or âlease purchaseâ involves leasing out a home to tenants with a legal agreement allowing the tenants the exclusive right to buy the home within a certain time period.
Itâs pretty typical in rent-to-own situations. This is combined with an exclusive right of first refusal on sale, which allows the renter to purchase the property from the owner, should the owner find it necessary to liquidate the property prior to the term of the agreement resulting in the renter owning the property. In layman's terms: the renter âcalls dibsâ.