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Ernie Garcia, a landlord attorney, discusses the pros and cons of rent-to-own deals in this video tutorial. He emphasizes the importance of how these agreements are drafted, as they give both the landlord and tenant different rights. Rent-to-own scenarios often involve signing a lease with an option to buy, which may require the tenant to pay a certain amount for the option. Additionally, agreements may include terms such as a right of first refusal for the tenant. Careful drafting of these agreements is crucial to avoid misunderstandings and legal issues.
