Illinois Lease to Own Agreement

The Illinois Lease to Own Agreement combines the actions of renting a home and (optionally) purchasing it. Oftentimes, this type of contract comes with many advantages over normal lease agreements; it benefits landlords in that tenants typically pay rent diligently (as they are contributing to a downpayment with every rent payment), and they treat the property with respect (as they may own it in the future). Additionally, the agreement benefits tenants in that it gives them a chance to see the property first-hand, allowing them to determine if the property is a good fit for them.