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Ernie Garcia, landlord attorney, discusses the nuances of rent-to-own deals in this video tutorial. These agreements vary depending on how they are written, giving both the landlord and tenant certain rights. Drafting the agreement is crucial in rent-to-own scenarios. For example, a lease with an option to buy may be signed, with the tenant purchasing the option for a set price. The agreement may also include a right of first refusal for the tenant. It is important for landlords to carefully consider the terms of these agreements to ensure clarity and protection for both parties.
