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Landlord attorney Ernie Garcia discusses rent-to-own deals, emphasizing the importance of how agreements are drafted. These agreements can give landlords and tenants specific rights, sometimes even changing how they refer to each other. One common scenario is signing a lease with a tenant with an option to buy, where the tenant may have purchased the option for a fee. The agreement may also include a right of first refusal for the tenant. Proper drafting is crucial in rent-to-own deals to ensure clarity and protect the interests of both parties.
