A traditional rental agreement may include a first-refusal option for the tenant under certain circumstances. A lease-purchase may define a set time period within which the purchase may be made, pricing, and how the down payment will be obtained, since often tenants planning to exercise a lease-purchase will set a certain amount of each month’s rent aside, in escrow or trust, for the future down payment. Lease purchase options may also designate a purchase price in advance, financing, and other details.
Before We Build Another House, Let’s Ask Ourselves an Important Question
There’s a growing drumbeat in the industry right now: in many markets, it’s cheaper to build new...
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