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A rent to own agreement is a document where a tenant and landlord agree on renting an apartment with the possibility of the tenant buying it within a specified period. This agreement differs from a standard lease as the tenant may have more maintenance responsibilities and pay higher rent, which can be held in an escrow account. It allows the tenant the privilege of buying the property before it is offered to others. The seller is obligated to sell the unit, but the buyer is not obligated to purchase it if they choose not to.