They are on a 20 year term, and adjustable rate. 

This option price will be adjusted and otherwise reduced over time, as set forth herein.Of the $2245 in rent payable each month during the 36 month lease, $1000 of the $2245 amount will be applied as further consideration to reduce the option and purchase price if and only if the Lessee exercises this option to purchase.Thanks for all the help - Ben

A home identical to ours (same builder, same year, identical floor plan, one street over) on 0.25 acres, not at the end of a cul de sac, no pool/spa, and no privacy-fenced wooded lot recently sold (3 months ago) for 270k with an updated kitchen - and our market has only gotten hotter in this neighborhood since. 

Also most of these loans have had a "prime plus X% adjustable rate".

I just ran into a bad one and it has caused me to adjust my risk-meter when handing over EM checks.

I had to do some adjusting but ended up figuring it out (at least closer to your number)... 

Also,  condos and townhomes have almost identical characteristics so if a model match just sold for 500k.  

The good news is that my next door neighbor listed their identical unit for $10K over what I paid and received an all cash, over asking price offer within a week!

No, however, if a contract is terminated early, i do have the right to adjust certain charges toward the client for work that is done/required.

First, though, you'd adjust/raise the rent and adjust/increase the purchase price.Our experience is that families who are serious about owning can get there act together and purchase within 3 years.