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Protect Rent to Own Agreement Template

Protect Rent to Own Agreement Template

Aug 6th, 2022

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How to Protect Rent to Own Agreement Template

4.6 out of 5

53 votes

A rent-to-own agreement is a contract between a tenant and a landlord outlining the rental terms of an apartment, with the potential for the tenant to purchase the property within a specified timeframe. Unlike a standard lease, this agreement may require the tenant to assume more maintenance responsibilities and pay a higher rent, which can be partially or fully held in an escrow account until the purchase. This type of agreement benefits the tenant by providing the opportunity to buy the apartment before it is offered to third parties, with the seller obligated to sell the unit. However, the tenant is not required to proceed with the purchase if they choose not to.

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