A lease option, also called a “lease with the option to buy,” is a type of rent-to-own contract. This agreement allows one to rent a home for a certain period and an opportunity to buy it at the end of the lease period.
Flexible path to buying a home: A lease option could be a suitable alternative if you aspire to become a homeowner but can't quite afford it just yet. Using this type of contract, you get a little more time to potentially save toward the down payment or work to improve your credit.
Flexible path to buying a home: A lease option could be a suitable alternative if you aspire to become a homeowner but can't quite afford it just yet. Using this type of contract, you get a little more time to potentially save toward the down payment or work to improve your credit.
For example, a tenant and landlord may agree to a five-year lease with a five-year option to renew. At the end of the first five years, the tenant is given the chance to continue the lease for another five years. If you think you may renew, be sure to bring up extension provisions with your landlord.
Given the stakes, it's common for property owners to consider whether they can draft this document themselves. While it is legally possible to write your own commercial lease agreement in Florida, doing so involves careful consideration of legal, business, and practical factors.
If your lease includes a home buying clause, you can terminate your lease early if you've purchased a new home as long as you give your landlord or property management company proper notice. Remember, not all leases actually include a home buying clause.
Lease agreements are considered to be legally binding once the document is signed by both parties.
Notarization: Unlike some legal documents, residential leases in Florida do not typically need to be notarized. The critical aspect is that both parties have agreed to the terms and have demonstrated this agreement by signing the lease.
 
                     
                     
                     
                     
                     
                     
                     
                     
                    