Georgia Lease to Own Agreement
The Georgia Lease to Own Agreement (Form F36) is a long-term lease agreement that provides tenants renting a property, such as a home or condo, with the option, but not the obligation, to purchase the property at the end of the lease term. Also known as an “Option to Purchase Contract,” the form aims to make home-buying more accessible and allows renters to determine if the property is a suitable fit for them.
To facilitate affordability, monthly rent payments are generally higher than average lease agreements, as a portion of the rent is applied as a credit towards the down payment if the tenants decide to proceed with the purchase. However, if the tenants opt not to buy the home, the accumulated credit will not be refundable.