The easy way to give your renters the option to buy.
Can be used to lease a condominium or house with the option to buy.
If you have rental property that you're ready to sell, but you want to give your renters a chance to buy it—or perhaps you have an interested buyer who can't afford a big down-payment or qualify for a mortgage right away—then this is the document for you. Socrates created this Lease with Purchase Option form for those times when you want to offer your tenants more, than an ordinary lease does. It gives you a customizable agreement that includes all the up-to-date terms and conditions you want in a lease, plus an option to purchase clause, so you're protected and your tenants are satisfied.
The form is available as a download and covers all the necessary rental terms and conditions, including:
- payment
- duration
- security deposit
- parking
- subletting
- damage to premises
- utilities
- maintenance and repairs
- insurance
- painting
- pets
- and more
It also includes a purchase option, which includes:
- purchase price
- down payment
- closing date
- purchase option deadline
With this Lease with Purchase Option form, you can create a complete and legal document that attracts tenants who are interested in purchasing your property and protects you in the event that future legal disputes arise.
Also included: Federally required Lead Paint Disclosure information in English and Spanish, to legally document the disclosure of lead-based paint or lead hazards to a tenant.
All contents reviewed and approved by attorneys or industry experts.
