Hi Debbie. Rent-to-Own programs will vary from property to property. Essentially, most programs are a 1-2 year rental with a pre-determined future purchase price(s). The owner of the property typically requires a down payment, referred to as "option money". The term comes from the concept of "Lease-Option"; Lease the property with an Option to buy it in the future. I welcome your phone call to learn more.
Keller Williams Realty, Cherry Hill