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Lease w/purchase options have a lot of benefits and I'm surprised more owners don't do it, maybe because they don't understand how it works.
Its a quick way to get a contract on a property, and usually at 5-10% higher price than you would normally get.
If the buyer/renter does not buy the property at the end of the lease, you not only get to keep their option deposit but also any option money added into the monthly rent.
The renter/buyer normally is responsible for maintaining the property and fixing anything that a landlord normally would handle.
I strongly suggest having a separate lease agreement and a purchase agreement. The reason is if you ever have to evict it is much harder for them to say they were purchasing the property which would force you to foreclose instead of evict.
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