Posted by B.L.Renfrow on March 23, 2000 at 22:22:15:
I have not read Bronchick’s L/O course, but in response to your question, “If the tenant does not pay the rent (monthly) what recourse do I have to remove him from property” your recourse is to do a standard eviction for nonpayment of rent.
The T/B’ers Option to Purchase should include reference to the option consideration, should state that it does not constitute a deposit, that it is non-refundable in the event the T/Ber does not exercise their option, nor for any other reason. (I always have the T/Ber initial that paragraph.) Likewise, any rent credit is addressed in the Option to Purchase, not in the lease agreement. The contract I use states the rent credit does not apply if the T/Ber defaults on any concurrent lease agreement.
I’m sure Bronchick’s material covers this thoroughly, although I don’t know in what specific format…maybe you should skip ahead in your reading a bit!