Posted by Bill Jacobsen on May 15, 2007 at 10:57:08:
I usually count on not being able to get back rent or late fees when a renter moves out. Usually they are moving out because circumstances have changed such that they cannot afford the lease payment nor will they be able to exercise the option in the future. It certainly seems reasonable that someone pays to buy an option and only reaps the benefit if they exercise it. By the way, I have option documents separate from the lease document.