Congratulations for thinking outside of the box Monica. One thing to remember that a Lease Option and a Lease Purchase, although often used interchangeably are actually two different alternatives to a traditional rental agreement or sale. Typically with both a Lease Option and a Lease Purchase a portion of the down payment or monthly rent payed by the Buyer is credited toward a predetermined purchase price of the home at some point in the future. With a Lease Option, a Buyer simply has the OPTION purchase that home at a specified time.The Buyer can still forfeit any agreed upon credits and move one. However, with a Lease Purchase, along with the Lease you would complete a Colorado Real Estate Commission Buy/Sell form or another form prepared by an Attorney with your Tenant/Buyer that has a specific closing date and details of the sale of the home agreed upon in advance of their moving in. Lease Options can be great options for both a Landlord and a Tenant. I know many former hardworking Homeowners, who lost their homes and desperately want to own a home again. Lease Options and Purchases give them an opportunity to work toward that goal. Meanwhile, the Landlord has the possibility of a Tenant with a little more skin in the game. Please have either a Realtor or a Lawyer (preferably both) look over your documents before entering into such an agreement so that you are properly protected. We wish you great success!