Under the new law, every rent-to-own contract must be in writing and clearly state all terms of the agreement. The contract must include a description of the manufactured home, including the manufacturer, serial number, year of manufacture, and the site or lot number on which the home is located. The contract must also include a complete description of any payments that have to be made, including the initial lot rent, the rental amount for the home, the amount of the rent-to-own payment, the length of the agreement, the number of payments, the annual percentage rate of any finance charges, and the amount of any additional fees.