Rent To Own Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Rent-to-Own Agreement

This Rent-to-Own Agreement (hereinafter referred to as the 'Agreement') is made and entered into on this {{date}} day of {{month}}, {{year}}, by and between:

Landlord/Seller: {{landlord_name}}, residing at {{landlord_address}} (hereinafter referred to as the 'Landlord/Seller').

Tenant/Buyer: {{tenant_name}}, residing at {{tenant_address}} (hereinafter referred to as the 'Tenant/Buyer').

Property Details

The Landlord/Seller hereby agrees to lease and grant an option to purchase to the Tenant/Buyer the property located at {{property_address}} (hereinafter referred to as the 'Property').

Legal Description of the Property: {{legal_description}}

Lease Term and Rent

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

The Tenant/Buyer shall pay a monthly rent of {{monthly_rent_amount}} {{currency}} on the {{rent_due_day}} day of each month. Late payments will incur a fee of {{late_fee_amount}} {{currency}}.

A security deposit of {{security_deposit_amount}} {{currency}} shall be paid by the Tenant/Buyer upon signing this Agreement.

Option to Purchase

The Landlord/Seller grants the Tenant/Buyer an exclusive option to purchase the Property at any time during the lease term.

The purchase price of the Property shall be {{purchase_price_amount}} {{currency}}.

An option fee of {{option_fee_amount}} {{currency}} shall be paid by the Tenant/Buyer upon signing this Agreement. This fee is non-refundable and will be credited towards the purchase price if the option is exercised.

A portion of the monthly rent, specifically {{rent_credit_amount}} {{currency}}, shall be credited towards the purchase price if the Tenant/Buyer exercises the option to purchase.

Maintenance and Repairs

The Tenant/Buyer shall be responsible for all minor maintenance and repairs to the Property, not exceeding {{minor_repair_limit}} {{currency}} per incident.

The Landlord/Seller shall be responsible for all structural repairs and major system replacements.

Any alterations or improvements to the Property by the Tenant/Buyer must have prior written consent from the Landlord/Seller.

Default

In the event of default by the Tenant/Buyer on any terms of this Agreement, including but not limited to, failure to pay rent or breach of any lease covenants, the Landlord/Seller shall have the right to terminate this Agreement and retain all payments made, including the option fee and security deposit.

Notice of default shall be provided to the defaulting party within {{notice_days}} days.

Governing Law

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

Signatures

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

___________________________

Landlord/Seller Signature

{{landlord_name}}

___________________________

Tenant/Buyer Signature

{{tenant_name}}

___________________________

Witness Signature

{{witness_name}}

Date: {{signature_date}}