Lease option deal goes south in Cape
A lease option or rent-to-own arrangement can be a great method for property sellers and buyers to connect. Often this method is utilized by buyers with poor credit or an income that doesn’t qualify for traditional financing.
A recent News-Press article detailed the difficulties experienced by a Cape Coral family in completing a rent-to-own transaction with Affordable Property Management Inc., a rent-to-own housing company owned by businessman Riyad (Rod) Khleif of Venice.
Gulf Returns previously commented on Mr. Khleif’s activities last October when an investigation was launched by Florida Attorney General Charlie Crist. Hopefully justice will prevail for all those who have been harmed by this unscrupulous operator.
Rent-to-buy deal puts family in a bind [News-Press]