In the last several months I’ve seen a couple Rent to Own Agreements relating to homes which have gone seriously wrong. A Lease Option is a type of rent to own agreement which relates to the purchase of a home. In these agreements a tenant usually agrees to lease the home at a higher price than they would normally rent the property. Often, the rent will be set aside and saved as part of a down payment and people are willing to pay above the market rate on rent because they believe they are essentially buying the house anyway.
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