A lease with option to purchase, like a normal residential lease agreement, sets up all the essential terms of a lease or rental agreement between a landlord and tenant. Additionally, it gives the tenant the option to one day purchase the apartment or house as long as certain conditions are fulfilled.
The lease with option to purchase gives you the option to include provisions related to rent concessions, furnishings provided, a lead paint disclosure, responsibilities of the tenant and landlord, and a move-in/move-out checklist. In addition to the usual lease provisions, this agreement also allows you to customize the price the tenant pays for receiving the purchase option, the purchase price for the dwelling, any interest rate charged, and the length of time the purchase option will be available.
LegalNature can help you get started drafting and downloading your lease with option to purchase in just a few simple steps to get you the protection you need today.