Updated April 14, 2023
A Virginia rent-to-own lease agreement is a standard rental contract that includes a clause allowing the tenant to buy the property. The tenant will be able to purchase the property in accordance with pre-negotiated terms agreed by both parties. If the tenant does not buy the property, the lease will terminate at the end of the term (with no obligation to either party).
Rental Application – Should be used by a landlord to verify the income and employment of the tenant.