A Kansas rent-to-own lease agreement provides tenants with the option to rent a property and buy it in the future. It enables them to accumulate a portion of their monthly rent payments as credits toward the property’s future purchase.
If a tenant decides not to exercise the purchase option included in a real estate purchase agreement, the landlord retains ownership of the property and can sell to a new buyer or explore different strategies. This agreement, often initiated after a rental application, allows renters to become homeowners over time, giving them the chance to commit to the property in the long run. At the same time, landlords benefit by having a steady income and the potential for a lasting commitment from tenants.
Landlord-Tenant Laws: Chapter 58, Article 25 (Landlords and Tenants).
Purchase Agreement Laws: Chapter 58 (Personal and Real Property).
