Rent to Own
You know that one great-uncle, who's out of sync enough with your family culture as to be almost completely irrelevant? For us, in the world of tenant-landlord law, Rent-To-Own contracts are like that.
We often say that Rent-To-Own contract are not covered under tenant-landlord law, but really, the "Rent" part often does fall under tenant-landlord law, even while the "to-Own" part doesn't. Wis. Stat. 704 explicitly says, "An agreement for transfer of possession of only personal property is not a lease" and ATCP 134 excludes a "contract of sale" from applying their administrative code.
However, we live to give here at the TRC, and we think folks should understand the components of Doing This Properly. So today, I'm attempting to explain what people typically mean when they say they "Rent-to-Own," how to do it well, and what to look for when the schnitzel hits the fan.
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