That’s not really an in-between, You’re still a renter and usually get no benefit if you fail to reach the specific criteria in the allotted time. It really doesn’t solve anything other than issues with credit scores or available down payments.
It helps you when you are not sure if you want the building or not though, since it lets you start the process without locking yourself into a long term commitment. Additionally not all rent to own have a specific timeframe to pay it. Many are just cumulative and can be bailed whenever the leases run out, and the only thing the renter is out of is the extra money paid.
That’s not really an in-between, You’re still a renter and usually get no benefit if you fail to reach the specific criteria in the allotted time. It really doesn’t solve anything other than issues with credit scores or available down payments.
It helps you when you are not sure if you want the building or not though, since it lets you start the process without locking yourself into a long term commitment. Additionally not all rent to own have a specific timeframe to pay it. Many are just cumulative and can be bailed whenever the leases run out, and the only thing the renter is out of is the extra money paid.