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Landlord attorney Ernie Garcia discusses the potential benefits and pitfalls of rent-to-own deals between landlords and tenants. These agreements vary in structure and can grant specific rights to both parties, sometimes even affecting how they address each other. Drafting a clear and comprehensive agreement is crucial in these scenarios, which may involve a lease with an option to buy, a purchase option bought by the tenant, and a right of first refusal for the tenant. Careful consideration and legal guidance are essential when entering into rent-to-own agreements as a landlord.
