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A rent-to-own agreement is a contract between a tenant and a landlord that outlines the terms of renting an apartment with the option for the tenant to purchase the property within a specified period. Unlike a standard lease, this agreement may require the tenant to take on more maintenance responsibilities and pay higher rent, which can be held in escrow until the sale. This arrangement provides the tenant the privilege of purchasing the apartment before it's offered to others. While the seller is obligated to sell, the tenant is not required to buy the property if they choose to forgo the purchase.