Updated February 20, 2023
A New Jersey rent-to-own lease agreement allows a landlord to rent a property while offering the tenant an option to purchase. If the tenant does not purchase the property the agreement will terminate at the end of the lease term similar to a standard lease. The landlord should is recommended to verify the tenant’s income and bank balances to ensure they can afford the property.
Rental Application – Use as the landlord to collect a non-refundable fee and verify the tenant’s financials.