Updated April 14, 2023
A Texas rent-to-own lease agreement is a standard rental contract with an added option to purchase clause for the tenant. The tenant will commonly have the lease period to buy the property. When electing to buy, the details of the sale will be entered into a purchase agreement. The landlord should verify, at lease signing, that the tenant is able to afford the property.
Rental Application – An application used to intake a tenant’s information before agreeing to sign a lease.