It’s important that there’s formal rent-to-own agreement signed by both the landlord and tenant. Before taking the time to draft, it’s a good idea to have a mortgage broker and lender review it. The reason for this is that it’s important that the rent-to-own agreement is written the right way. Lenders are very particular in what they are looking for in a rent-to-own agreement. If it is missing something, that’s when a lender may not be willing to approve a mortgage for it.