THIS AGREEMENT MADE and entered into on this ______ day of. When you sign a leaseoption agreement, you agree on a sales price at the outset of the agreement.You can purchase the rental property using the RTO contract's purchase option for less than the total of payments. A California lease agreement allows a landlord of residential or commercial property to write a legally binding rental contract with a tenant. A California renttoown agreement combines a residential lease arrangement and a real estate purchase addendum. This Lease Agreement ("Lease") is entered into between the Housing. Authority of the County of Contra Costa, a public body corporate and politic. A lease option agreement is important if a tenant wants to purchase the landlord's property at the end of the lease. It was there contended, as in the instant case, that the two leases were actually contracts of purchase and that the lease-option plan was a subterfuge. Renewal of this Agreement shall extend the option to purchase for a like term. 3.