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A rent-to-own agreement is a contract between a tenant and a landlord that outlines rental terms while providing the tenant the option to purchase the rented apartment within a specified timeframe. Unlike a standard lease, the tenant usually bears greater maintenance responsibilities and pays a higher rent, which may be stored in an escrow account for potential future purchase. This type of agreement grants tenants the opportunity to buy the property before it is offered to others. While the seller is obligated to sell, the tenant is not compelled to make the purchase if they choose not to.