Residential lease with option to purchase pdf

A written Residential Lease Agreement with Option to Purchase will prove invaluable in the event there are disagreements or misunderstandings between the parties regarding any provisions of the residential lease or option to purchase.

This Residential Lease Agreement with Option to Purchase includes the following provisions: Leased Premises and Term of Lease: Sets forth the address and description of the property and the dates of the lease term; Lease Payments and Late Fees: Sets out the amount of monthly rent, due date and penalties for late payments or insufficient funds; Security Deposit: States the amount of the security deposit and conditions for the return of that deposit; Option to Purchase: Sets forth that landlord grants tenant the exclusive right to purchase the property for a set price and when this option will expire.

Tenant must notify landlord of any intention to exercise the purchase option and will give the landlord an additional deposit toward the purchase of the property. Protect Your Rights and Your Property by using this accurate and easy to use form.

It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase.

An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page. Number of Pages Dimensions Designed for Letter Size 8. Editable Yes. Usage Unlimited number of prints. Product number This is the content of the form and is provided for your convenience.

Customer Reviews Average Rating: Reviews: K V - Brandon, FL. W K - Tustin, CA. The form was perfect for what I needed for a client wanting an unorthodox Lease with Option. Wasn't sure if it was actually catered to AZ law, but it had all the terms and saved me from typing them all out. It covered everything and I like that it was deliverable in Word so that I could make the changes I needed to make. G J - Rossville, KS.

Everything was just what we needed. If you are a leaseholder, you cannot change the lease terms without agreeing such change with your landlord. The reason for this is that as the lease is a contract between two parties, the leaseholder and the landlord, both parties must agree to change referred to also as variation of the terms of the lease.

The rent-to-own "RTO" contract between the lessor and the renter allows the renter to use the personal property. In return for use of the property, the renter must pay a periodic weekly or monthly payment to the lessor. The Lease or Rental Agreement. The Option to Purchase. Tenant Must Fulfill Lease Obligations. TopTenReviews wrote "there is such an extensive range of documents covering so many topics that it is unlikely you would need to look anywhere else".

USLegal received the following as compared to 9 other form sites. We use cookies to improve security, personalize the user experience, enhance our marketing activities including cooperating with our marketing partners and for other business use. Read less. Estate Planning. Back Estate Planning. Back Real Estate. Back Prepared for You. Back Divorce. Back More Areas. Starting My Business. Back Starting My Business. Back Managing My Business. Back Running My Business.

Back Small Business. Back More Business Forms. Change state. Close Select state. If this is not your state, please select yours. You will be redirected to another page. Cancel Select state. Control :. Prior to the signing of the lease, the parties will negotiate a purchase price for the property.

It is recommended that the price is not negotiated at a later date, as the collection of the option fee is meant to give the tenant the option to purchase any time throughout the course of the lease. The monetary amount that is agreed-upon will remain unchanged throughout the duration of the lease.

It is recommended that homeowners negotiate a price that is slightly higher than market value due to the likelihood of the home to appreciate.

Out of all portions of the agreement that can be negotiated, maintenance and utility costs are some of the most important. Both parties will need to carefully write down each type of cost and which party is responsible for paying for it. In some cases, the landlord may be willing to pay for all maintenance, insurance, and utilities aside from routine grass mowing and other routine tasks.

In other cases, the landlord may expect the tenant to hold responsibility for the majority of the home costs. Regardless of what is decided, the section should spell out exactly what is agreed upon to avoid disputes later down the road. Hiring an attorney to go over the contract can ensure fairness and help point out any unforeseen conditions in the contract.