rent-to-own-agreement

Rent to Own Agreement

2 signers
1Landlord
2Tenant
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Rent-to-Own Agreement

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.

Rent-to-Own Agreement Template

Why is a Rent to Own Agreement important?

Renting to own can allow an individual to begin building equity in a home they like without having to take out a mortgage or come up with a large down payment. This can be beneficial for those people without the financial ability to make a down payment or qualify for a mortgage due to low credit scores.

What to Include in a Rent-to-Own Agreement?​

There’re primarily 8 items that must be included in a rent-to-own agreement. Those are – Tenant/Buyer Name and Address, Landlord/Seller Name and Address, Monthly Rent ($), Utilities and Services, Fees, Purchase Price, Closing Date, and Property Disclosures.
commission agreement template

Landlord / Seller

This part should mention the name & address of the party who owns the property.

commission agreement template

Tenant/Buyer

This section should mention name and address of the party leasing the property and obtaining the option to purchase.

commission agreement template

Property

The address and legal description of the property.

commission agreement template

Rent Terms & Payments

The rent amount should be mentioned here, and if there’s any late fees applicable for delayed payment.

FAQ About Our Rent to Own Agreement Template

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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