Before a deal becomes a recorded note, NoteHarbor tracks it as a lease agreement — a lease-option, rent-to-own, or land contract — so the rent, the credits, and the option deadline all live in one place.
Pick the agreement type
When you create an agreement, choose the Type:
- Lease-option — the tenant rents with the option to buy later.
- Rent-to-own — rent applies toward an agreed purchase, usually as a structured mortgage: you track the financing terms, but it isn't a recorded note yet, and the deed stays in the seller's name until the terms are paid off.
- Land contract (contract for deed) — an installment purchase where you hold title until it's paid.
- Other — anything that doesn't fit the above.
Rent credits accrue automatically
Each agreement records the purchase price and how much of every rent payment is a credit toward the buyer's down payment or price. NoteHarbor totals those credits so you always know what's been earned toward the purchase.
Never miss the option deadline
Turn on the option-expiry reminder and set the date — NoteHarbor surfaces the agreement as the deadline approaches so an option period never lapses unnoticed.
During the option period it's a rental
While the deal is still an option, the property is tagged as a rental, so its rent flows into your cashflow. When the option is exercised or the agreement closes, that tag clears automatically.
See Executing an option for what happens when the buyer actually buys.
Lease-options, rent-to-own, and land contracts are regulated differently in every state. Have your attorney review your agreement and disclosures.