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Idaho Lease to Own (Option to Purchase) Agreement Template Mobile App

The Idaho Lease to Own (Option to Purchase) Agreement app is a lease agreement for a property that is for rent, however, an option in the contract, which the tenant can pay an option fee to elect, allows for the renter to eventually become a buyer of the property. This rent-to-own agreement identifies the option fee, and a purchase price that can be paid to take ownership of the property, and identified the rent credit the landlord/seller is making available. Additionally, the lease contains typical lease terms such as the lease period, the monthly rent, security deposit information, and other typical lease agreement items.

Options to Purchase can be helpful tools for tenants seeking to purchase real estate, but that may not be in a position to do so immediately, or who may want to rent somewhere before deciding to buy. A rent-to-own home in many cases allows payment towards the purchase price to be offset by rent credits, which are accumulated as a percentage or certain dollar amount, from each monthly rental payment. If the purchase option is not taken, there are no rent credits (i.e., they are only viable if a renter is purchasing the real real estate).

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This Lease to Purchase Option Agreement (“Option to Purchase Agreement”) is made on
Date
between
(the "Seller/Landlord")
and
(the "Buyer/Tenant")
Hereinafter known as the “Parties.
WHEREAS, Seller/Landlord is the fee owner of certain real property being, lying and situated in
County Name
County,
Idaho, such real property having a street address of
Street Address
(the "Property").
WHEREAS, Seller/Landlord and Buyer/Tenant have together executed a prior lease agreement, the sub...
NOW, THEREFORE, for and in consideration of the covenants and obligations contained herein and ot...
The parties hereto hereby agree as follows:
Rent.
Dollar Amount
Dollars
Dollar Amount
during said term, in monthly payments of
Dollar Amount
Dollars
Dollar Amount
Each payable monthly on the
Day of Month
day of each month in advance at such place as we may from time to time specify by written notice ...
Tenant shall pay a security deposit of
...and More!