Rent is often set higher than the market average, with a portion of the extra payment (a "rent credit") potentially applied toward the eventual down payment.
The tenant pays a non-refundable upfront fee (often 1–5% of the purchase price) to secure the exclusive right to buy the property. lease with option to buy
A lease with an option to buy, also known as a or rent-to-own , is a real estate agreement that allows a tenant to rent a property for a specified period with the exclusive right to purchase it at the end of that term. Unlike a standard rental, this arrangement provides a structured path to homeownership for individuals who may need extra time to improve their credit scores or save for a down payment. How the Agreement Works Rent is often set higher than the market
Developers