Rent To Own Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Parties to the Agreement

This Rent-to-Own Agreement ("Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

Landlord/Seller: {{landlord_name}}, with an address at {{landlord_address}} (hereinafter referred to as "Seller").

Tenant/Buyer: {{tenant_name}}, with an address at {{tenant_address}} (hereinafter referred to as "Buyer").

Property Details

The Seller hereby agrees to lease and ultimately sell, and the Buyer hereby agrees to lease and ultimately purchase, the property located at {{property_address}} (hereinafter referred to as "the Property").

Description of Property: {{property_description}}.

Lease Term and Rent

The lease term shall commence on {{start_date}} and shall continue for a period of {{lease_term_months}} months, ending on {{end_date}}.

Monthly rent payable by the Buyer to the Seller shall be {{monthly_rent_amount}} ({{monthly_rent_amount_words}}) on or before the {{due_day}} day of each month. A portion of this rent, specifically {{option_fee_portion}}, will be credited towards the purchase price if the option to purchase is exercised.

Option to Purchase

The Seller grants the Buyer an exclusive option to purchase the Property at any time during the lease term, or upon its expiration, for a total purchase price of {{purchase_price}} ({{purchase_price_words}}).

The option fee, non-refundable, is included in the monthly rent payments as specified in the 'Lease Term and Rent' section.

To exercise this option, the Buyer must provide written notice to the Seller at least {{notice_days}} days prior to the desired closing date or the expiration of the lease term, whichever is sooner.

Maintenance and Repairs

During the lease term, the Buyer shall be responsible for all routine maintenance of the Property, including but not limited to {{routine_maintenance_tasks}}.

Major repairs, including but not limited to {{major_repairs_examples}}, shall be the responsibility of the Seller, unless caused by the negligence or willful misconduct of the Buyer.

Default

In the event of default by the Buyer (e.g., failure to pay rent, breach of lease terms), the Seller shall have the right to terminate this Agreement and retain all moneys paid, including rent and option fees.

The Seller shall provide {{default_notice_days}} days' written notice to the Buyer to cure any default.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{jurisdiction}}.

Signatures

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first written above.

_____________________________

Seller/Landlord: {{landlord_name}}

Date: {{landlord_signature_date}}

_____________________________

Buyer/Tenant: {{tenant_name}}

Date: {{tenant_signature_date}}