The Pennsylvania rent-to-own lease agreement gives the tenant the right to purchase the home during the term of the contract. In order to procure this type of arrangement, lessees will typically have to provide a sum of money upfront to entice the landlord/seller to follow through with the agreement. This document should contain information concerning the amount of the monthly rent payments/security deposit, the time period in which the lessee has the right to occupy/buy the home, and the property’s acquisition price. Both parties should sign the form below to solidify the contract along with a witness and any involved agents.
Rental-Purchase Agreement Act – § 6901-6911