Arizona Rent To Own
An Arizona rent to own agreement is a contract between a landlord and a tenant that allows the tenant to enter a lease agreement with the intention of buying the property before the lease expires.
A rent to own agreement contains similar information to what’s contained in a lease agreement such as property description, due dates, late fees and grace periods. The only distinguishing aspect is that a rent to own form includes details like the option to purchase fee, the amount that goes towards the purchase, and the property purchase price.
Other terms for a rent to own
- Rent to own contract
- Rent to own lease agreement
- Rent to own agreement form
- Rent with option to buy contract form
How to write Arizona rent to own agreement
The first step in creating a lease to own agreement from the rent to own form will require you to write down some information to help identify the specific location of the premises in question. You’ll need to write down premise type, address, city, state and zip code.
The next step will be to write down tenant and landlord information including full name, address, city, state and zip code. Our rent to own template caters for up to four tenants and two landlords.
The next step is to write the premises guidelines. This is just but a series of simple questions that only require “yes” or “no” answer. You should also indicate whether the tenant can sublet the leased premise and also indicate the number of days that the landlord should give to enter the premise for non-emergency purposes.
In “term of the agreement” section, state the duration of the lease agreement. Details regarding termination of the lease should also be included in this section. You should also indicate whether the tenant will require legal advice for the execution of the rent to own agreement.
A rent to own agreement should include details such as the premise purchase price; option to purchase cost, how the rent will be paid and the payment amount.
Other important details that you should fill out in Arizona rent to own form include tenant’s responsibilities, information regarding utilities and amenities. Include a lead paint disclosure if the premise was built before 1978. Lastly, you should state when the document will be signed and the number of witnesses to sign it.
Why landlords in Arizona should opt for a rent to own contract
Many landlords in Arizona opt to offer tenants with a rent to own option even when their ultimate goal is not to sell the property. It’s obvious that a tenant who signs a rent to own option will take great care of the premise that those who sign a lease or rental agreement without an option to purchase.
Free Arizona Rent to own contract
If you’re looking to create Arizona rent to own form, worry no more. Our printable rent to own forms is simple to fill and give a final document same as that a professional lawyer would provide. While it’s free to fill out the form and get a preview, you will have to pay a small fee. We charge the small fee to ensure that we keep rent to own generator and the website up and running.