Free Lease-to-Own Agreement Templates

Landlord and tenant must agree on the following in a lease to own agreement:

• Monthly Rent Amount
• Lease Term (Start and End Dates)
• Security Deposit (if any)
• Utilities and Services

After finalizing rental terms, decide:

• Purchase Price
• Downpayment
• Option Term
• Option Fee (if any)

The lease-purchase terms often include a condition that both parties agree to enter a purchase agreement in “good faith.”

• Screen the tenant with a credit, background, and criminal checks using services like MySmartMove.com or RentPrep.com.
• Check for sex offender status (nsopw.gov)

The tenant provides:

• Bank Statements (last 2-3 months)
• Pay Stubs (last 2 weeks)
• Tax Returns (last 2 years)
• Employment Verification

Both parties sign the agreement. Tenant provides:

• First Month’s Rent
• Security Deposit
• Prorated Rent (if applicable)
• Additional Fees (pet fees)

Tenant moves in per the lease start date, introduces themselves to neighbors, and follows property rules.

Tenant informs the landlord of their intent to buy, often with an earnest money deposit.

Parties agree on:

• Financing Contingency
• Inspection Periods
• Repair Negotiations
• Property Survey
• Closing Date

Seller provides disclosures about property defects and includes the Lead-Based Paint Disclosure (if built before 1978).

Closing the sale includes the following:

• Making sure the Buyer funds are available, transfers payment, and receives the deed.
• The deed is recorded at the county office, officially transferring ownership.