How the HomeWays Partner program works
If the goal is stable, high-quality cash flow, The HomeWays approach may be a great fit.
Program Benefits over traditional renting:
💰 Higher Monthly Income
Our tenant buyers pay above-market rent, with 4% annual increases—providing more income than a standard lease.
📈 Built-In Appreciation
The tenant buyer’s purchase price increases 4% per year, allowing you to continue to gain appreciation just like with traditional rentals.
🔧 No Maintenance Costs
Tenants are responsible for all maintenance and repairs—saving you time, money, and stress. We achieve this by positioning you as a lender instead of a landlord.
🙌 Better Tenants
These residents are more committed and responsible, with a homeowner mindset. They treat the home with care and stability.
🔁 Flexible Exit Options
Most tenant buyers don’t end up buying, so you keep the property and rinse and repeat with a new tenant buyer – raising the purchase price, collecting another non-refundable down payment, and in turn a higher monthly payment. If they do purchase the property, you receive the full purchase price and pay $0 commissions to agents, netting you top dollar for the home which you can reinvest or do a 1031 exchange. (We have partners who can help you increase your portfolio if that is your desire.)
We structure our program to benefit both owners and tenants, creating a win-win dynamic that brings long-term value and consistent returns.
The process:
- Once the agreement is signed, one of our team members will do a walk-through of the property (to ensure that it meets HomeWays’ standards).
- Once pictures are received and purchase price has been determined, we’ll begin marketing your property to our network of tenant-buyers and across 100+ listing platforms.
- Our agreement spans 60 days, and our current average time on market is just 28 days. (And in some cases, we have people waiting and ready to go now.)
- We’ll coordinate walkthroughs with prospective tenant buyers. When someone is ready to move forward, they submit Earnest Money, at which point we screen them thoroughly and share their full application with you for final approval.
- We handle everything for you from beginning to end! All of our fees are collected from the tenant buyer that we bring to you.
Here’s a breakdown of the numbers:
- Purchase Price – you determine the price (ex. $250,000)
- Tenant buyer non-refundable Down Payment: 5% (ex. $12,500) (2.5% is our fee – the other 2.5% goes to you, along with the first month’s payment)
- Tenant buyer’s monthly payment is automatically deposited into a checking account of your choice. (ex. $2,150/mo)
- We strongly recommend you use our servicing company, HomeWays Servicing, for payment collection. HomeWays Servicing takes care of payment collection and manages the deal from start to finish, including answering questions and guiding the tenant buyer throughout the process.
In addition, you’ll benefit from:
- 11 years of HomeWays experience in connecting tenant buyers with owners like you
- A relationship manager walking you through the entire process from beginning to end, available to answer any questions you encounter and help you navigate through the process.
- The rewarding feeling of helping a deserving family or individual with the opportunity to become a homeowner that no one else could help!
This structure is designed to maximize your cash flow while minimizing the typical burdens of being a landlord.
Feel free to visit our office (1502 S Big Bend Blvd, Richmond Heights MO 63117) and meet us in-person. Our goal is to develop great partnerships so that you may also benefit from the HomeWays program as we have.