Rental Application – To be used by the landlord prior to signing the lease to ensure the tenant has the funds to pay the monthly rent and purchase the property.
New York Rent-to-Own Lease Agreement
A New York rent-to-own lease agreement allows a tenant to rent a property while also having an option to purchase it during the lease term. Terms of the sale are commonly negotiated prior to entering the lease. When exercising an option to purchase, the tenant notifies the landlord, and a purchase agreement is made.
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Updated October 09, 2024
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