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.
Rent-to-own agreements involve increased risks for both sellers and buyers, so sellers are less likely to bother with a rent-to-own agreement if they can just sell the house and be done with it. Rent-to-own, sometimes called a lease option or lease purchase, is a self-imposed savings plan for the renter/buyer.The renter pays an upfront fee, called an option fee, which guarantees the renter the option to purchase the home after a specified amount of time, usually one to three years.uying a home through a rent-to-own or lease-option agreement has become more popular in the aftermath of the 2008 financial meltdown. More people have been looking at creative solutions to buying a home, but itâs important to differentiate between creative and smart.