A lease option contract has two parts, the first part is the lease, and that part is handled like any lease, money down and you move in. A lease option allows you to buy the home if you want, but without obligation.You can walk away without penalty if you change your mind. Contact us for a worry-free experience. Looking to buy home through a lease option? Community Legal Services (CLS) provides free legal advice and representation to low income residents of Philadelphia. Call today to get the help you need. Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. RenttoOwn Agreement (Lease Option) A standard lease offering tenants the option to buy the property under predetermined conditions. APPLY Easy as 1, 2, 3 with our online application and online payment process.