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But renting to own houses, or lease-optioning a house, as they say in the real estate business, is an entirely different business matter. For both the seller and buyer, renting to own a house can be a dream come true — or, yes, a nightmare.
In order for a tenant to be provided a rent-to-own agreement, he or she must have a good credit score as proof that they are capable of paying for that particular property. A tenant and a landlord can agree on the terms of the lease. What Is a Lease on a House? A lease is an agreement between two individuals for the lease of a certain asset.
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For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similarly to a car lease : Renters pay a certain amount each month to live in the house, and at the end of a set period — generally within three years — they have the option to buy the house.
If tenants leave their residences of their own volition, landlords would be able to. "I am deeply concerned about the rent control bill that passed out of the house today," Rep. Jack Zika said..
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