What is Rent to Own?

Wiki definition – Rent-to-own, also known as rental-purchase, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics and home appliances, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement.

Simply put, rent-to-own is renting with the option to buy. The deal is setup using an Occupancy Agreement and an Option to Purchase Agreement.

For more information, please check how rent to own homes work.