Lease Option - Posted by John

Posted by Bill K. (AZ on March 28, 1999 at 23:26:00:


Having separate contracts is the only way to go. If a tenant/buyer decides not to exercise their option, they may resent having to give up their “option consideration” and rent credits. Separate contracts makes it more difficult for the tenant/buyer to say that they were confused about what they were getting into, and hence, should be reimbursed for those items.

This technique doesn’t guarantee an outcome in your favor should you get sued. It just tips the scales in your favor by making you look more honest and forthcoming.

Good luck with your investing.

Bill K. (AZ)

Lease Option - Posted by John

Posted by John on March 28, 1999 at 19:58:34:

My LLC company owns a SFR that I am selling on a lease option. My question is… Should I have a contract for the lease and a seperate contract for the option?
Thanks in advance for any response.