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A rent-to-own agreement is where a tenant and landlord agree on renting an apartment with the potential for the tenant to buy it within a specific timeframe. The tenant may have more maintenance responsibilities and higher rent, which can be held in an escrow account. This agreement gives the tenant the privilege to purchase the rental property before the owner offers it to others. The seller is obligated to sell, but the buyer is not obligated to buy if they choose not to become a purchaser.