Nevada Rent to Own Agreement Form

The Nevada rent to own agreement catalogs the explicit terms to the arrangement to rent a property with a granted allocation of the opportunity to buy upon lease upon termination. The standardized form provides a written format to record the particulars to file the transaction for reference to the commitments therein. When an owner retains the rights to a particular piece of real estate and selling is not attainable, a viable solution may be the rent to own option. This opportunity can allow for an individual to lease a residence before buying, should they not currently qualify for financing. It also allows the owner to gain an income from the property before a sale is made possible. In a climate where the marketability of home is not a potential option, leasing to own can prove to be an optimal choice. The form designates the identities of the involved participants, the property address, security deposit, and lease term. Further elaboration as to rental payments and premises rules are relayed in detail within the leasing contract. Separate clauses serve to cover the fee associated with the first right of refusal to buy the home, and the expiration of the provided offer.