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Ernie Garcia, a landlord attorney, discusses the pros and cons of rent-to-own deals in this video tutorial. These agreements can vary in structure, providing both landlords and tenants with different rights depending on how they are written. The key issue in rent-to-own scenarios is the drafting of the agreement. For example, a lease with an option to buy may be signed, with the tenant purchasing the option for a fee. The agreement could also include a right of first refusal for the tenant. It is essential to carefully draft these agreements to protect the interests of both parties.
