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Ernie Garcia, landlord attorney, discusses rent-to-own deals in this video. Rent-to-own agreements can vary in terms and give both landlord and tenant specific rights. Drafting a clear agreement is crucial in these scenarios. One common option is a lease with an option to buy, where the tenant pays a specific amount for the option. The agreement may also include a right of first refusal for the tenant. It is essential to understand and carefully draft rent-to-own agreements to avoid confusion and legal issues.
