Louisiana Lease to Own Agreement

In Louisiana, a rent-to-own contract is a type of agreement between a landlord and a tenant that allows the tenant to rent a property for an agreed-upon amount of time, with an option to purchase the property at a predetermined price. They are popular in Louisiana due to the flexible payment plans with no prepayment penalties, allowing tenants to purchase the property when their financial situations allow.

The agreement must be in writing and must contain specific information about the property, the rental terms, and the purchase conditions. Terms of the agreement typically include the option to purchase clause, the length of the rental period, the rental payments and associated fees, and the purchase price of the property. Louisiana law also states that the rent-to-own contract must be enforceable under the Louisiana Residential Landlord and Tenant Act, further protecting the tenant’s rights. (See Title 9, Ch. 3)