A Florida rent-to-own agreement offers tenants the option to purchase the rental property at a set price. This type of arrangement enables tenants to accumulate a portion of their monthly rent payments as credits toward the property’s future purchase.
The agreement also covers essential details like maintenance responsibilities, renewal options, termination conditions, and property inspections. It caters to those wanting to navigate market uncertainties, rebuild credit, or experience a property before committing to ownership.
Landlord-Tenant Laws: Florida Statutes Title 6, Chapter 83 (Landlord and Tenant).
Purchase Agreement Laws: Florida Statutes Title 40 (Real and Personal Property).