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How does rent with option to buy work?

Public Comments

1. they take part of your rent and put it towards the price of the house.
2. You pay a shitload each month, at outrageous interest rates for an ungodly amount of time to buy something worth about one/tenth of what you're paying for.
3. If this is a house, you'll pay a stated monthly rent for a stated time, after which a stated percentage of that paid rent is applied to a Down Payment, and a mortgage is created. Simple huh? $2150.00 monthly rent x 24 months w/10 per cent applied as down payment ---24 x 2150x 10% equals $5160.00
4. read tips and articles on real estate and renting on this site