Rent to Own in Salt Lake City: A Path to Homeownership

Salt Lake City is a vibrant and growing community with a strong economy and a diverse population. However, like many cities in the United States, the cost of homeownership can be a barrier for many families and individuals. Fortunately, there is a solution that can help people achieve their dream of owning a home: rent to own. In this article, we will explore the concept of rent to own in Salt Lake City and how it can be a path to homeownership.

What is Rent to Own?

Rent to own, also known as a lease option, is a contract between a landlord and a tenant that gives the tenant the option to purchase the property they are renting at a later date. The tenant pays rent to the landlord, but a portion of the rent is applied towards the eventual purchase of the property. Rent to own agreements typically last for a few years, giving the tenant time to improve their credit score or save for a down payment.

Benefits of Rent to Own in Salt Lake City:

1. Build Equity: With each rent payment, a portion goes towards the eventual purchase of the property. This means that the tenant is building equity in the property while they are renting it.
2. Time to Improve Credit: For those who may not have the credit score required to obtain a traditional mortgage, rent to own provides time to improve their credit score and increase their chances of being approved for a mortgage in the future.
3. Try Out the Neighborhood: Rent to own allows tenants to live in the home and neighborhood for a period of time before committing to purchasing the property. This gives them the opportunity to ensure that the home and neighborhood are a good fit for them.

How to Find Rent to Own Properties in Salt Lake City:

Finding rent to own properties in Salt Lake City can be done through a variety of sources including real estate agents, online listings, and property management companies. It is important to work with a reputable company or agent to ensure that the rent to own agreement is fair and legal.


Rent to own can be a great option for those who may not be able to afford a traditional home purchase or are working to improve their credit score. Salt Lake City offers a variety of rent to own properties, giving individuals and families the opportunity to achieve their dream of homeownership. By working with a reputable agent or company, renters can find a rent to own agreement that is fair and legal, and take the first steps towards owning their own home.


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