- Joined
- Aug 30, 2007
- Messages
- 130
Hi All
I have a couple of quick questions for lease to own. I have someone who is interested on one of my houses as a lease to own. What I was considering doing is giving him a 1 year lease. I would self manage with a 1 year lease in place and offer him 10% of the rent as a bank account against future purchase.
Do I have to have 2 seperate contracts in place? IE a rental lease and a lease to own contract stating price and terms? I believe I heard Barry mention that you had to have to do it this way or you may run afoul of Landlord/Tenant.
Any other suggestions?
Thanks
Harry
I have a couple of quick questions for lease to own. I have someone who is interested on one of my houses as a lease to own. What I was considering doing is giving him a 1 year lease. I would self manage with a 1 year lease in place and offer him 10% of the rent as a bank account against future purchase.
Do I have to have 2 seperate contracts in place? IE a rental lease and a lease to own contract stating price and terms? I believe I heard Barry mention that you had to have to do it this way or you may run afoul of Landlord/Tenant.
Any other suggestions?
Thanks
Harry