Residential Lease Agreement with Option to Purchase

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LES217MK – RESIDENTIAL LEASE WITH OPTION TO PURCHASE

A lease option is a valid purchasing technique. It is a lease for a fixed period of time with an option to purchase the property at a future date. The price of the property is usually agreed upon at the inception of the agreement. With a residential lease option to purchase, the tenant has the right, but not the obligation, to purchase the property.

Documents Included:

Rental Application

The application helps the landlord obtain useful information in determining the prospective tenant(s) ability to lease.

Residential Lease with Option to Purchase

This lease agreement sets out the rules landlords and tenants agree to follow. It is a legal contract, as well as an immensely practical document full of crucial business details, such as how long the tenant can occupy the property and the amount of rent due each month.

Check In/Check Out Guide

These forms document the condition of the property.  This helps reduce any potential problems with the disposition of deposits and condition of the property upon the finalization of the tenants lease.

Lead‑Based Paint Disclosure

A required form for properties built before 1978