Questions people actually ask
If something here isn't clear enough, that's a failure on our part — tell us and we'll rewrite it.
What exactly is rent-to-own?
A lease agreement paired with an option to purchase the home, usually within one to five years. A portion of your monthly rent may be credited toward the purchase price, and the price itself is often agreed up front — which protects you if the market rises during your lease.
Do I need good credit to start?
Iron Stake does not check buyer credit. Each seller sets their rental screening requirements, and a lender sets requirements for any mortgage you later need. Renting through a listing does not guarantee improved credit or mortgage approval.
What happens to my rent credits if I don't buy?
In most agreements, accrued credits and any upfront option fee are forfeited if you decide not to purchase. This is the single most important term to understand before signing, and it varies by contract — read it closely and have an attorney review it.
See the eight agreement terms before contacting a seller.
Am I obligated to buy the home?
With a lease option, no — you hold the right to buy, not the obligation. Be careful with lease-purchase agreements, which can legally obligate you to complete the sale. The two sound alike and are very different; always confirm which one you're being offered.
What's the difference between a lease option and rent-to-own?
They overlap heavily, and the labels get used loosely across the industry. Both mean you rent first and hold a right to purchase later. In practice "rent-to-own" usually describes agreements where a set portion of rent accrues as credit toward the price, while a plain "lease option" may carry a smaller credit or none at all, with the value sitting in the locked price instead. What matters is not the label but the eight terms — read those.
What does it cost to browse?
Nothing, and there is no tier that changes that. Every listing's address, purchase price, option fee, monthly credit, and term are visible without an account, without a form, and without a subscription. Buyers are never charged and never upsold.
Then how does the platform make money?
A flat advertising fee of $249 per property, per year while listed, paid by the seller. The first 22 sellers to list pay $149 for the first year on one listing, then $249 per year. An unpaid introductory reservation is released 7 days after its checkout session expires. A seller can stop future renewal from their dashboard, including when an option is signed, and keeps the paid period. That's the entire model. We don't take a commission on the sale, we don't charge buyers, and we don't earn anything from your data — which is precisely why we can afford to show you every term before you talk to anyone. A business paid to publish complete listings has no reason to hide them.
How is a listing reviewed?
Before a property is listed, an administrator reviews the material terms, disclosures, photos and property details, and requires that all eight material terms of the option are complete. Review of ownership evidence is a planned addition. A seller who won't state a purchase price doesn't get listed.
Will you send my information to lenders or agents?
No. Your contact details go to the specific seller whose property you reached out about, and to no one else. We don't run a lead-resale business, we don't syndicate to lender networks, and we don't sell marketing lists. If you eventually want a lender or an attorney, that's your choice to make on your own timeline.
I own a property — why would I do this instead of just selling?
Because a large share of otherwise solid buyers can't clear underwriting right now, and that pool is growing as rates rise. A structured lease option lets you agree a price today with a buyer who is committed but not yet bankable, collect an option fee, and hold rent in the meantime — rather than carrying the property while you wait for a conventional buyer. It also gives you a defined outcome if they never exercise.
How do referral rewards work?
Anyone with an Iron Stake account, buyer or seller, can share their referral link or code from the dashboard. You earn $40 for each North Carolina or Georgia property a seller you referred lists, up to 3 properties in their first year, once that property’s first year is paid (the $149 founding first year for the first 22 sellers, or $249) and the listing is approved. For now, only North Carolina or Georgia properties earn rewards. Renewals don’t earn rewards. We pay up to 47 rewards a calendar year; any more wait until January. If you expect to earn more, contact us: with a completed IRS Form W-9 on file we can raise your limit, and we will send you a Form 1099 for that year. Rewards may be taxable income. Anyone with an active real estate licence isn’t eligible for rewards.
How do I get paid for a referral?
By PayPal or Venmo, and you can add one or both. Open your dashboard, go to Referral rewards and, under Payout method, select Add PayPal, Add Venmo or both. Enter your PayPal email or your Venmo username or mobile number and save. After a 30-day waiting period, rewards go out in a monthly payout on the 1st, and we email you when yours is sent.
Can I change where my referral rewards are sent?
Yes. Select Change under Payout method on your dashboard at any time. We email you whenever your payout details change; if you did not make the change, reply to that email right away and we will hold your payouts. Rewards are sent to exactly the details you enter, so double-check them.
Are there rules for sharing my referral link?
Yes. When you share your link or code where other people can see it, such as in a post, video, review, group or website, say clearly that Iron Stake pays you for referrals, for example “I get a referral reward from Iron Stake.” Don’t send spam or bulk messages, and don’t say anything about Iron Stake or its listings that isn’t true. We may withhold rewards if these rules are broken.