The lease option as a concept is a very real and quite popular strategy these days Happy Mardi Gras carrying beads shirt. It, of course, only works in bigger cities where there is a strong rental demand. But common sense applies to every deal, including this one. For a start, you need to do your own due diligence. Check the area, see how many properties of the same caliber are advertised and how long for? If still in doubt, call some estate agents asking what they’ve got, do thorough market research. Also search online portals by the oldest listing on the market, which will give you a good idea about the turnover of properties in the area.
If you have little too many properties sitting for over 3 months plus, Happy Mardi Gras carrying beads shirt then the demand is low and you will struggle to rent it out. Finally, do make sure that you know 100% how much those fees and the mortgage is. Don’t trust the sources on that, it’s really not his problem, he might have given you figures for guidance only. If everyone else stacks up, just go for it. Make sure the lease option contract is done properly and ideally let your solicitor check it, or check it yourself thoroughly and make sure you are not signing up for something you don’t understand and/or expect.