Lease To Purchase agreements

Jess Anaya

Can I use Quicken to track Lease To Purchase agreements? Tracking the rent and the option price.

Frankx

Hi @Jess Anaya,

To the best of my knowledge, Quicken does not have a feature that would track the option price of a "lease to own" arrangement.  You may be able to use a manual work around for it by setting up an "other asset account" to hold the option payments.

Frankx

Hi @ Jess Anaya,

Yes - I think that you can use Quicken's Rental module to track the rental income on an on-going basis, and you can also use it to track rental related expenses.  And, depending on the terms of the option to purchase agreement, as noted above, you should be able to post the option payments received to an "other asset" account (that you'll need to setup in Quicken).  Ultimately, when the option is exercised, you'll then make an entry to apply the option payments to the sales transaction.

Hope this helps.

Frankx

Hi @Jess Anaya,

To the best of my knowledge, Quicken does not have a feature that would track the option price of a "lease to own" arrangement.  You may be able to use a manual work around for it by setting up an "other asset account" to hold the option payments.

Jess Anaya

Thank you Frankx, would you suggest that I use the Rental part of Quicken at all for this application?

Frankx

Hi @ Jess Anaya,

Yes - I think that you can use Quicken's Rental module to track the rental income on an on-going basis, and you can also use it to track rental related expenses.  And, depending on the terms of the option to purchase agreement, as noted above, you should be able to post the option payments received to an "other asset" account (that you'll need to setup in Quicken).  Ultimately, when the option is exercised, you'll then make an entry to apply the option payments to the sales transaction.

Hope this helps.

Jess Anaya

Perfect, thank you Sir