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Ernie Garcia, a landlord attorney, discusses rent-to-own deals in this video tutorial. These agreements can vary greatly in their terms, giving both the landlord and tenant specific rights. Sometimes, the parties may not even be referred to as landlord and tenant depending on the agreement's drafting. A common scenario is signing a lease with an option to buy, where the tenant might have purchased this option for a fee. The agreement may also include a right of first refusal for the tenant. Drafting these agreements is crucial for a successful rent-to-own deal.
