Lease To Purchase agreements
Best Answers
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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.Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
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.Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5
Answers
-
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.Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
Thank you Frankx, would you suggest that I use the Rental part of Quicken at all for this application?0
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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.Quicken Home, Business & Rental Property - Windows 10-Home Version
- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -5 -
Perfect, thank you Sir1