A rent-to-own agreement is a detailed document between two parties. This agreement should be used by a person who wants to lease the property while granting the tenant the option to purchase the property at the end of the lease term.
This part should mention the name & address of the party who owns the property.
This section should mention name and address of the party leasing the property and obtaining the option to purchase.
The address and legal description of the property.
The rent amount should be mentioned here, and if there’s any late fees applicable for delayed payment.
Mention Effective Date of Agreement, Mention Landlord / Seller & Tenant / Buyer Details, Write Property Address & Legal Description, Fill in Premises Details, Write the Term. Should mention a date (or range of date) when the rent should be paid.The security deposit amount and terms of repayment at the end of the term.
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