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A rent-to-own agreement is a contractual document between a tenant and a landlord outlining the terms for renting an apartment with the option for the tenant to purchase it within a specified timeframe. Unlike a standard lease, the tenant may have increased maintenance responsibilities and higher rent, which can be partially or fully placed in an escrow account until the purchase. This agreement provides tenants the privilege to buy the unit before the landlord considers other buyers. While it obligates the seller to sell, the tenant is not required to finalize the purchase if they choose not to.