The tenant always has the option to buy the building he's living in. They simply make you an offer. Your options are yes, no, and counter. The lease survives the transfer of ownership, so the new owner just picks up where the old one (you) left off, effectively becoming his own landlord. This means all you need to do is let the tenant know you're willing to sell, but that you're not in a hurry. When and if the tenant qualifies for a mortgage and is ready to buy, and picks your building out of all the others on the market, you'll get an offer. At that point negotiate for a fair price and then proceed with a FSBO. If you really want to write the contract as an option-to-purchase lease, you can explicitly put a special clause into the lease allowing the tenant to buy the property at any time for $x plus all closing costs except the ones you specifically list. But also include a lease buyout option such that you can terminate from your end by paying a penalty. That way, if you run into trouble and have to offload the property before the tenant is ready (and he may never be: a lot of talk about buying is just wishful thinking) no third party buyer will be interested in a property where someone else has the option of purchasing it for $x at any time. You also won't have the chance to change the purchase price if housing prices go up again. An option-to-buy clause is very one-sided in the tenant's favor. There's no real up side to adding it.