Rent To Buy
|Rent To Buy||
An arrangement with a private landlord where the tenant is renting with the intention to purchase the property.
Special terms may be established between the landlord and tenant detailing the during in which the right exists, the expected time of purchase by the tenant and also any monthly payments during the rental that are paid to the landlord in order to have the sole right to purchase the property.
It is normal that if extra monthly payments are made to secure the right to buy the property, then this money is in some way deducted from the final purchase price.