A Georgia rent-to-own agreement provides tenants with the unique opportunity to acquire the property from the landlord before the lease term concludes. A portion of their rent is often allocated as a down payment for the property’s future purchase. Should the tenant decide to opt out, any contributions made towards the purchase are forfeited.
This contract also outlines maintenance responsibilities, establishing clear guidelines on whether the tenant or the landlord is responsible for specific upkeep tasks during the lease period and fostering a mutually beneficial arrangement for the parties.
Landlord-Tenant Laws: Code of Georgia Title 44, Chapter 7 (Landlord and Tenant).
Purchase Agreement Laws: Code of Georgia Title 44, Chapter 5, Article 2 (Conveyances).