CHICAGO (November 9th, 2012) – When Thomas Grant, 50, and his wife Michelle, 41, realized they had outgrown their rental home they were worried they had boxed themselves into a corner.
The couple knew they didn’t want to continue to rent a home, but they were also afraid low credit scores due to Thomas’ job loss a few years ago would prohibit them from buying a home, even though Thomas now has a job as a research analyst.
“I knew I wanted to get out of a straight rental arrangement,” said Thomas. “I’m only going to be working another 15-20 years and I don’t want to rent in retirement. It’s important to me to start paying down a mortgage soon and make my cost of living much more affordable when I retire.”
So, Thomas started doing what he does best – researching. After he located several firms that offered rent-to-own programs, he zeroed-in on Tinley Park, Ill.-based MACK Companies as the best option.
“Most companies don’t do rent-to-own programs, and if they do, they require really high credit scores,” said Thomas. “Frankly, if I had a really high credit score, I’d just buy a home. I did a lot of research and what I really liked about MACK Companies is that a portion of my monthly rent goes toward my down payment. Comparable firms were charging the same amount in rent and they wanted an extra fee for the down payment.”
Thomas contacted MACK Companies in February of this year, and in just a few short months the Grants found exactly what they were looking for in Matteson, Ill. The couple was able to rent a 3-bedroom, 2-bath, fully renovated single-family home.
MACK Companies specializes in buying foreclosed homes in desirable neighborhoods and redeveloping them into rental properties with new-construction features. Then the company completes a rigorous screening process to ensure it finds qualified and trustworthy renters who will care for their “new” homes properly.
“We were able to see the home before MACK Companies redeveloped it, and the only thing I can say about the finished product is that it is incredible,” said Grant. “I’m not easily impressed, but they did an amazing job with the rehab.”
MACK Companies renovated the Matteson home with all new kitchen appliances, installed hardwood floors in main rooms, laid new carpeting in bedrooms, and painted all of the interiors.
“When my wife saw the place, she started to cry,” said Grant. “It was exactly what we wanted – a nice, open floor plan in a quite neighborhood.”
After the Grants toured the home a second time, Thomas wanted to make sure they were chosen as tenants for the property, so he sat down and wrote officials at MACK Companies a letter, ensuring them he would take care of the property and be a very good tenant.
Like many people, Thomas had lost his job in the downturn and his credit score was adversely affected, so he was nervous his credit score would affect their chances of renting the home. However, once MACK Companies ran an employment check – Thomas now works as a senior analyst for Hillshire Brands in Downers Grove, Ill., and Michelle works in the retail industry – the Grants were approved and moved into their home on May 1.
“This was far and away the best place and the best deal for us,” said Grant.
The Grants were also greatly impressed at the level of customer service provided by MACK Companies’ property managers and the genuine level of respect they give to tenants.
“When we moved in we found a few small things that needed to be fixed and MACK Companies was there the next day,” said Thomas. “The level of customer service is really amazing and we find it to be a true blessing. Everyone I have come into contact with at MACK just treats us so well. They treat you exactly how you would want someone to treat your grandmother – with incredible respect.”
Tags: Chicago Rentals MACK Companies Rent to Own Single-family Investments