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Ernie Garcia, a landlord attorney, discusses the topic of rent-to-own deals in this YouTube video tutorial. He emphasizes the importance of carefully drafting agreements in such scenarios, as they determine the rights of both the landlord and tenant. These agreements can vary in structure, with some even prohibiting the use of traditional landlord-tenant terms. One common approach is to include an option to buy in the lease, where the tenant may purchase this option for a fee. Additionally, a right of first refusal may be granted to the tenant. Proper drafting is crucial in rent-to-own deals to ensure clarity and protect the interests of both parties.
