It is very important to ensure that rent is always paid on or before the first of every month. As with any other tenancy, if rent is not received by the due date tenants are at risk for eviction. With a Rent to Own not only do you risk eviction proceedings, but you could also lose any or all of your accumulated option credits, which could mean that you will not have a sufficient amount available as a down payment at the end of your term.
What happens if I don’t pay rent on time?
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