New Special Deal on certain units!!! (These Owners want to sell to committed tenant/future owners) LEASE WITH OPTION TO PURCHASE a.k.a RENT TO OWN 2 bedroom Condos! $5000 Option Fee (Gives you the right to purchase the property at today's Sales Price $135,000 in 1 year's time). This Option fee converts to down payment on exercising your option. If you do not exercise your option within the time of the contract you will forfeit (ie. loose) this option fee. However, a 2nd year can be put in the contract at a 5% increase in Sales Price. You Must Apply and be approved for standard rental. A refundable Security Deposit based on application will be charged (can be as much as 2x rent). Each month you MUST pay your full rent (not paying will get you evicted and you will not be able to live in the unit; plus you will owe damages etc. However, legally you could still buy the unit per the separate option contract.) Each month you can choose to pay an additional amount towards your purchase. These extra funds would be Earnest Money and held in a separate Escrow account from your security deposit.