Property Management
What is a Kansas rent-to-own (lease-option) arrangement?
AA lease that automatically converts to ownership after 5 years
BA lease where the tenant has an option to purchase the property at a set price during the lease term✓ Correct
CA government-subsidized rental program
DA lease where rent payments count as full payment toward purchase price
Explanation
A lease-option gives the tenant the right (but not obligation) to purchase the property at a predetermined price within a specified time, with possible rent credits toward the purchase.
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