Rent-to-Own is a type of agreement that allows individuals to rent a property or item with the option to purchase it later. Typically, a portion of the rent paid goes toward the eventual purchase price, making it easier for renters to buy the item or property over time. This arrangement is common for homes, furniture, and electronics. In a Rent-to-Own contract, the terms, including the purchase price and rental period, are agreed upon in advance. If the renter decides to buy, they can do so at the end of the rental term. If not, they can walk away without further obligation.