Usually, in a rent-to-own arrangement, the rent is above fair market value, since some percentage will be applied to a tenant’s earnest money deposit. (iStock) Perspective by Harvey S. Jacobs Q ...

And many rent-to-own buyers who agreed to a set price a few years ago found their homes substantially devalued by the time they were set to buy and couldn't get financing to cover the difference.

With rent-to-own, part of your rent goes toward a down payment on the property. ... There’s no standard template for rent-to-own agreements, and regulations and tax laws vary by state.

Consumers can also use rent-to-own transactions for their primary residence; for instance, those who need to wait a little longer to demonstrate steady W-2 income on their tax return.

A lease purchase agreement, also known as a rent-to-own agreement, lets someone rent a property for a specified period of time with the promise to purchase it at the end of the lease term.

Rent-to-own agreement with parent needs to be carefully documented June 15, 2018 The information in this column is intended to provide a general understanding of the law, not as legal advice.

The origins of rent-to-own. Rent-to-own contracts came to fruition as early as the 1950s, “when you had neighborhoods that were credit starved and couldn’t get access to (traditional mortgages ...