Both the leasing purchase option and the lease option create lease-tenant relationships. If the tenant is late, the owner seller would distribute the tenant buyer or tenant option as a normal tenant. One problem that can arise in connection with the eviction of a tenant to a hire-purchase or leasing option is a right of equitable interest. Although not usually successful, a lessee may assert ownership of the property in question, based on the idea that a lease purchase or rental option is essentially a sale similar to a tempable contract (or deed contract) in which the seller retains ownership of the asset as security until the balance is paid by the buyer. If a cheap interest rate argument prevails, the owner seller must remove the tenant through legal action, unlike a simpler eviction. From the seller`s and lessor`s perspective, you`ll likely have a more stable tenant during this time, and a lease is often an opportunity to include during the lease period more maintenance and upgrade fees on the tenant side of the master notebook. An option agreement gives the owner of the tenant option the right to acquire the property at an agreed price during the term of the lease or for another fixed term, also known as the “option period”, for a fee paid to the seller called the “option fee”. You may want to consider reducing the rent during the sales period to detect inconvenience. A good relationship with your tenant will come in handy later when you discuss access to the property for photos and visits.

The Lagos State Home-Ownership Mortgage Scheme (LagosHOMS) is a housing rental scheme for people who currently cannot afford a mortgage but will be able to do so. Tenants are expected to pay rent for a set period of time, after which they are asked to switch to mortgage payments. The programme is aimed at young professionals, including teachers and young civil servants. The program has given birth to more than 200 new owners in the city. [7] In many countries, sellers are required to disclose any knowledge of past methamphetamine production on the land for sale. If the seller is aware of the previous production of methamphetamine, the withdrawal and rehabilitation status should be specified in the contract of sale or in an addition of methamphetamine. If the buyer wants the tenant to stay, this should be indicated in the sales contract. The new owner or his house management company becomes the owner.

After receiving the first contract, the seller may refuse the offer, accept and sign the contract or submit a counter-offer. Like the previous sales contract, the counter-offer is a legally binding contract. It can be virtually identical to the original agreement, but with some important changes, such as price or contingencies. The frequent changes presented in counter-offers are as follows: their tenants cannot refuse access inappropriately, but they can set conditions for access to the property. They can limit access to certain periods and days and they can ask to be present in open houses – it is also their right to refuse open houses on the land. . . .