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A rent-to-own agreement is a document where a tenant and landlord stipulate terms for renting an apartment, with the option for the tenant to purchase it within a specified timeframe. Unlike a standard lease, this agreement may require the tenant to take on more maintenance responsibilities and pay higher rent, which can be held in an escrow account until the purchase. This type of agreement grants tenants the privilege to buy the rented unit before it can be offered to others. While the seller is obligated to sell, the tenant is not required to purchase the property if they choose not to become a buyer.