Updated April 14, 2023
A Michigan rent-to-own lease agreement is a standard lease template that includes an option for the tenant to buy the property. The terms of the transaction are negotiated at the time when the lease is signed. The landlord will commonly look closely at the tenant’s financials to make sure not only they can pay the monthly rent and purchase the property.
Rental Application – Lets the landlord run a background check on the tenant by obtaining their personal details and consent.