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In this video tutorial, attorney Ernie Garcia discusses rent-to-own deals for landlords. These agreements can vary but typically give both the landlord and tenant specific rights. The key issue is how the agreement is drafted, as it can determine the rights and responsibilities of each party. One common scenario is signing a lease with a tenant that includes an option to buy, which the tenant may purchase for a fee. This may also include a right of first refusal for the tenant. Drafting the agreement is crucial in rent-to-own deals.
