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Frequently Asked Questions

Do you have questions about IPS Amarillo Homes? We’re here to help! Browse through our most frequently asked questions below to learn more about our properties, our process, and how to get started.

About Our Homes

If the property is listed on the Available Now section of our Homes Page, then it is move-in-ready, and you can view it at any time. If the property is listed on the Coming Soon section, it is currently being reconditioned.

Please call IPS Amarillo Homes to schedule a showing for any of our homes. 

We are pet-friendly. Please contact one of our representatives for more information.

Yes, you will need permission to add another resident to the home. Anyone who was not listed as a resident on the initial residential lease will not be permitted to move in. Please contact a representative. More than likely, it should not be an issue to add them to your lease. 

No, you can purchase any of our homes at any time. If you see a house you like, contact us today.

We typically have new houses available every week. Check our Available Homes page to see the properties available now!

Yes! There is a possibility the home may come back on the market. However, we may have several other properties that are very similar to the home you like. Please contact us for more information.

About Our Process

With rent to own homes, the sales price is typically higher than market value. The monthly lease payment is also higher than market value. And, if you do not close on the home, you lose all of your investment—which benefits the homeowner.

When you take advantage of the Lease with Purchase Option Program at IPS Amarillo Homes, you don’t have to pay more for your rent. You can pay for an option fee (pre-paid rent), which actually decreases your monthly lease payment. The amount you pay for the option fee will go toward your downpayment. 

Regardless of whether you pay the option fee or not, we will give you a $200 credit toward the purchase of the home for the first year. This equates to $2,400 in credit!

The option fee is simply pre-paid rent. For every $1200 you put down, it reduces your monthly lease payment by $100. You don’t have to pay the option fee, even if you intend to own the home. 

However, if you do choose to pay it, we will lower your monthly payment in proportion to the option fee amount you choose. You’re also able to pay off the downpayment over time instead of all at once. This makes the program a cost-effective choice and a financially sound investment.

We will hold a property with a deposit for up to 15 days.

No. IPS Amarillo cannot hold property until we have received a deposit and the application is approved. This type of leasing option is a first-come-first-served basis and is subject to approval.

Typically, the term of the lease is for one year. However, IPS Amarillo will occasionally make exceptions. Extenuating circumstances including having a home built, professional employment of a temporary nature, and corporate leases are a few of the reasons for which we would permit shorter terms. Rates are higher on a shorter-term lease.

The utilities and yard maintenance are both the responsibility of you, the occupant. We take pride in our homes and require that all tenants maintain the yards. Don’t be surprised if we send you a friendly letter to remind you to take care of your lawn.

Your approval isn’t based on your credit score, so you can be approved regardless of credit challenges! We can work with you on any credit situation, and you can rebuild credit while you’re leasing the home. We have resources that can help you overcome your credit challenges.

No, you can purchase any of our homes at any time.

We often have new houses available every week. Check out our Available Homes page to see the properties currently on the market.

Visit our website page and fill out the form for your maintenance request. In most cases our maintenance requests are addressed within 2 business days.

Your rent will be automatically drafted from your account each month through ClearNow. This saves you the time and hassle of having to pay in person. You can choose to have it drafted out on the first or the fifth of each month—whichever is more convenient for you.

Watch Videos from Homebuyers Just Like You

“If you’re skeptical about lease to purchase, it’s worth it. It really is. Now we have this huge home and it’s ours.”

Penny


"Being in your early 20s and trying to buy a home, that’s such a daunting thing. Having a lease with purchase option makes it a whole lot easier and affordable."

Ashley


"The process was extremely easy. We went in renting and after about a year, we opted to buy the house. It took 2 weeks at top. Super smooth."

Dallas