rent-to-own leases are when the tenant pays rent, and the owner sets aside part of rent paid for the tenant to use to put a down payment on the purchase of the home. but part of the amount is counted as credit that they can use to buy the house later. it is similar to leasing a car. renting-to-own is an option if you do not want to, or cannot, buy right now. the tenant usually has to pay a fee to the owner for the ability to buy the home in the future. this gives him or her the option to buy the house in the future. if the contract calls the fee a “lease purchase,” that usually means that the tenant has no choice – they have to buy the house by a certain time. it is a good idea to have the contract reviewed by a real estate attorney before agreeing to it. the contract should say when and how the price of the home will be decided. in some cases, the tenant and owner agree on a price when the contract is signed. it is preferable that the price be determined at the time of contract.