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A rent to own agreement is a contract between a tenant and a landlord outlining the terms of renting an apartment with the option for the tenant to purchase it within a specified timeframe. Unlike a standard lease, this agreement often requires the tenant to assume more maintenance responsibilities and pay higher rent, which may be held in an escrow account for the eventual purchase. This type of agreement provides the tenant the right to buy the rental property before it can be sold to a third party, obligating the landlord to sell if the tenant chooses to purchase. However, the tenant is not obligated to buy the property if they decide against it.