Residential Rent to Own Protection Act

Residential Rent to Own Protection Act

This bill establishes requirements regarding residential rent-to-own agreements. The bill

• requires residential property subject to rent-to-own agreements to comply with applicable state and local habitability laws,
• prohibits eviction of a purchaser of such an agreement except if ordered in a judicial proceeding,
• requires public documentation of these agreements, and
• establishes civil penalties for violations.

The Consumer Financial Protection Bureau must promulgate regulations under this bill.