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A rent to own agreement is a contract between a tenant and landlord outlining the rental terms, with the option for the tenant to purchase the apartment within a set timeframe. Unlike a standard lease, this agreement often requires the tenant to take on more maintenance responsibilities and pay a higher rent, which may be put in escrow until purchase. The primary advantage is that it grants the tenant the opportunity to buy the rented unit before it is offered to others. While the seller is obligated to sell, the tenant is not required to complete the purchase if they choose not to.