Rent to own could be a fairly strong move for a seller in a depreciating market.
In this instance the purchaser and the seller would enter a contract where the purchase price is agreed on in the contract. As the person rents, they build up the down payment by a portion of the rent going towards the down payment.
The contract will detail when the renting ends and when they go get a Mortgage for the remaining balance.
An obvious risk is that a default by the renter could put you in an unconfortable situation because as mentioned above you would be forced to carry two mortgages (the old one until the purchaser buys it from you and the new place you buy).
I have not handled any of these personally, but I would suggest that it would be in your best interest to have a lawyer draw up the contract to make it valid and enforcable.
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