Nevada Lease to Own Agreement

The Nevada Lease to Own Agreement (also called a “Rent-to-Own” contract) is a method of leasing specific to residential homes that skirts the boundary between a purchase agreement and a typical lease, as tenants pay monthly rent to lease a home, yet at the end of the lease term, are given the choice to purchase the property. For landlords, this type of agreement can alleviate pressures to sell while also mitigating the risk and liability of having to maintain the property during the contract’s duration. This is because the tenant(s) are completely responsible for repairs and other responsibilities commonly held to landlords in standard leases.