Arizona Real Estate Notebook

Actually, either a lease-purchase agreement or a lease-purchase option agreement can work well for both parties. Bob Bruss is constantly hammering on that idea.

A lease-option is similar to a new-car lease, in that the renter has the choice of buying the property or not by the end of the lease term. Unlike a lease-purchase, which requires the tenant to buy the property within a year or two, a lease-option doesn’t force the tenant to buy

Beware of Confusion

A lease-purchase agreement is very different from a lease-purchase OPTION agreement. Usually in residential real estate you see lease-purchase OPTION agreements but most people just call them lease-purchase agreements so be careful.

Also Beware

Some property management companies and landlords have used the lease-purchase option agreements in Arizona to take advantage of renters.