A Louisiana rent-to-own agreement is a document that allows a tenant to live on a property for a specific period and buy the property afterward if they choose to do so. It includes details like the lease duration, a locked-in purchase price for the home, an option fee, and rules for the tenant while they live on the leased property.
This arrangement benefits both parties, as the tenant can live on the property before they decide whether to buy it. The landlord can attract multiple prospective tenants because the arrangement provides more advantages to a tenant than a standard lease agreement.
Landlord-Tenant Laws: LA Stat. tit. 9 § 3251 through § 3261.2
Purchase Agreement Laws: LA Stat. tit. 9 § 2941 through § 2949 and LA Stat. tit. 9 § 3196 through § 3200
