Use a San Jose residential lease agreement to protect the rights of both the landlord and tenant. Download your template here.Description: This example of an agreement between a developer and a lease- purchaser is intended to illustrate how NSP grantees, subrecipients. A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property. Easily create a residential lease or month-to-month rental agreement for single or multiple tenants in California with this ready-to-use legal form. The Court of Appeal held that once a tenant exercises its option to purchase under a lease agreement, the lease terminates, the tenant becomes a vendee. First, a normal rental agreement. Second, the option to buy the house at a pre-determined price at a date in the future. The lease agreement should clearly describe the rental property's address and specific unit numbers. Lease options are hard to find in Silicon Valley for many reasons, including increased risk for both buyer and seller (and their agent).