houses for sale are an attractive option for those who have the opportunity to acquire a home quickly. But what about those who wish to acquire the house where they are leased? can resort to a rental agreement with purchase option, one of the most discussed topics in a real estate agency.

Rent with purchase option: what is it? 

1. Aspects to be specified in the purchase option contract

   
   

What starts as a rental agreement will result in a sale with the same tenant.But there are points that must be known in advance to establish a contract attached to the statutes, such as the sections to be included in the contract. For example, object of the agreement, time of lease, term of option to purchase, monthly fee and bail. Added to the inherent conditions of a rent, like subleases, reforms, among others.One of the most important point to consider is the price relative to the sale. This must be settled in the fixed or variable percentage of rental income paid until the date of purchase, which will be subtracted from the sale price. The purchase option price must also be detailed, that is, the initial premium paid by the lessee to have the right to purchase.And, of course, the clauses in relation to the lack of payment that would cause the lessee the loss of the premium and the payments invested in the rent. If it is a breach on the part of the owner, the lessee may decide between enforcing compliance or concluding the agreement with the corresponding compensation.A rental agreement with purchase option offers advantages to both parties. To the landlord, greater security before the defaults. And, for the tenant, it means the enjoyment of a property for rent while investing in its possible future purchase.Buying and selling a house is not an easy decision. Therefore, whether you are a buyer or a seller, from Proyectos Insulares, our team of experts will advise you throughout the process. Do not hesitate to contact us!