- Joined
- Oct 17, 2007
- Messages
- 295
Hello
I am working on putting together an offer letter for some of my current tenants for the opportunity of rent to own.
The tenants are long term tenants and I wanted to somehow reward them for their years of support within the rent to own offer.
I would like to put specific numbers into the letter to tenants.
Can a person offer "retroactive" credits towards long term tenants to help reduce their amount of deposit?
For example.... something like this:
Dear: xxxx
I wanted to thank you for the past 3 years of support as a valued tenant. In doing so, I also wanted to offer you a unique opportunity that could help you purchase the home you are currently living in....(then talk about rent to own)
We are willing to offer you $100/month credit for each of the months that you have been under our tenancy agreement. That means you have already built up $3,600 in equity credits which significantly reduces the deposit you need to us and also helps you build for the bank required down payment when the lease agreement comes to term. (summary version)
The underlined part is obviously the area of concern. Can I do this? If not, is there another way of structuring it to show that they have built some equity over the last several years of tenancy other than a flat price reduction?
Any feedback is much appreciated...
I am working on putting together an offer letter for some of my current tenants for the opportunity of rent to own.
The tenants are long term tenants and I wanted to somehow reward them for their years of support within the rent to own offer.
I would like to put specific numbers into the letter to tenants.
Can a person offer "retroactive" credits towards long term tenants to help reduce their amount of deposit?
For example.... something like this:
Dear: xxxx
I wanted to thank you for the past 3 years of support as a valued tenant. In doing so, I also wanted to offer you a unique opportunity that could help you purchase the home you are currently living in....(then talk about rent to own)
We are willing to offer you $100/month credit for each of the months that you have been under our tenancy agreement. That means you have already built up $3,600 in equity credits which significantly reduces the deposit you need to us and also helps you build for the bank required down payment when the lease agreement comes to term. (summary version)
The underlined part is obviously the area of concern. Can I do this? If not, is there another way of structuring it to show that they have built some equity over the last several years of tenancy other than a flat price reduction?
Any feedback is much appreciated...