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A rent-to-own agreement is a contract between a tenant and a landlord that outlines rental terms with the option for the tenant to purchase the apartment within a specified timeframe. Unlike a standard lease, this agreement typically involves the tenant taking on more maintenance responsibilities and paying higher rent, which may be held in escrow until purchase. The agreement provides the tenant the opportunity to buy the apartment before it is offered to third parties, creating an obligation for the seller to sell the unit if the tenant chooses to purchase. However, the tenant is not obligated to buy the property if they decide against it.