Kansas Lease to Own Agreement


A Kansas Lease to Own Agreement is a contract that offers an alternative to selling one’s home. Instead of listing the property for sale, the homeowner can list the property as “for rent to own”, which allows a person to rent the home as normal, but provides the tenant with the ability to purchase the home at the end of the lease. The tenant is NOT required to purchase if they enter the agreement.

A portion of all rent payments made by the tenant to the landlord accrues as a type of down payment. So long as the tenant purchases the property, this down payment can go towards the principal on the home’s price. However, if the tenant decides to not purchase the property, they forgo the deposit. This acts as the incentive for purchasing the home and makes it more likely for the homeowner to find someone truly interested in purchasing.

Lease-Purchase Laws: Kansas Consumer Lease-Purchase Agreement Act

This contract is often called a “combination” of two (2) types of contracts into a single form; a lease agreement and a purchase agreement. The owner of the property and the tenant(s) will then sit down and agree on monthly payment amounts, the final purchase price of the property (if the tenants decide to purchase), and the percentage of monthly payments that go towards the down payment to the home.