I have a lease purchase house and the potential buyers can't seem to pay on time.?
99225
Actually, I think there are a few points to this question. First, what did YOU do to prequalify them to purchase the house in the first place?  Many LO landlords really don't care if the renter ever buys, they keep the LO money and either let the tennants go month to month, or let them move on.  So, assuming you want to sell the house, do a better job upfront of finding tennant buyers.  Pre qualify them.  1. Do they have all of the option consideration money upfront, with no payments (this means they have a lump sum or were able to save the money).  2. Does their current employment make it so they are able to make the payments on the house comfortably.  You can look at their income, and their outgo, and compare it like a lender does (that is what I do).  THey should not spend over 41% of their monthly income for, all items on the credit report, monthly payments, the principle and interest and taxes and insurance on the house. IF it is obvious they will be short...you probably want to look for the next buyer. But finally, if they will be renters until they exercise their option contract, do a smart upfront check on them as renters. First, do a criminal check on them, if they pass that, then look into the other items such as credit and references. If you find someone you like, then go to their neighborhood, drive it, and then call and ask if you can stop in.  If they are happy to let you come see them in their current home, you will get a feel for  how well they are going to take care of your property.  Due Diligence is important. Im not a lawyer, and if any of this info is wrong, it is simply my opinion.
1008501
It is alsways best for a buyer to get an agent.  They can help you with leases also.  They are no cost to you, the buyer, and well worth it.  We can guide you through the process and only work for you, where as a listing agent will work for the seller and keep their best interest in mind.  If you would like a referral, feel free to email me and I can see what I can do.\n\nPrestige_buyers@yahoo.com
957216
Start looking now, you can get an idea of whats available the costs etc.  Also most landlords know if they may have a unit available in the up coming months.  Good Luck KG
995515
What you need to do is to talk to the apartment manager and describe your situation. See if you can pay partial rent and a late fee and hold off for a couple of weeks until you get back on your feet. You must keep the lines of communication open and show what you are doing to resolve this issue that you have caused. I, personally, would have done this before the rent was due.\n\nHowever, if you can't bounce back, see if the manager will allow you to sublet the apartment. Also, If you could find a qualified tennant to fill your apartment while you rent a room from someone else, maybe the apartment manager will not evict you and let you break the lease. \n\nAfter all is said and done, you are responsible for your own situation and problems. Your loss of emplyment and the status of transportation are only factors in your life, they do not relieve you of your responsibility (unless you're a democrat or a liberal, but that's another story). After all, I can't call up my bank and say "Yeah, I can't pay my mortgage on my apartment building this month because this tennant in unit #211 made some poor choices in her life. Yeah, she bought a Ford." I jest, but I hope you understand what I am saying.\n\nRegards...
485344
The game that you are playing is not a good one. Anyone that would even consider doing something like this is insane. First off, you buy the property with cash from an unsuspecting person that is in financial hardship. You then, more than likely, charge these people rent to live in their own home with the promise to sell the property back to them after a certain time period. If they default on the rent they are paying you evict them. \n\nPeople, if you are in trouble with your mortgage payment, please please go talk to a mortgage broker. There are many options that you may qualify for instead of selling your home to a person like this. The only way this type of scenario can help you is if you have no other options and have been turned down for a refinance.\n\nIt is violation of this sites policy to solicit business in case you were wondering.
377146
You have started a pattern of accepting this behavior.  It will be difficult to make a major change right away.  I would suggest a few months before their lease ends, send them a lease renewal with new guidelines.  For example, late fees charged after 5 days late or a flat late charge fee.  Also, the rent must be dropped off at a specific location by the due date.
1119761
My dad discovered some small print a few years back where they couldn't charge the redemption fee if you're remortgaging with the same company (not sure if it applies to all companies however) - it pays to read the terms and conditions very thoroughly for any loopholes there are because these firms never advertise anything that will lose them money... it may even take 3 or 4 nuisance phone calls to make them change their minds.. persistence is the key!  Keep complaining and you'll get anything just so they can get rid of you!
365146
Try to figure out a payment plan. Right now, the landlord has the power in the situation; he's the one who'd be able to use the terms of the lease to try to get you out of the property.\n\nBest to work with him to get out of arrears. If you do figure out a plan, and go through with your part of it, his part of it should be to leave you alone.
546969
Talk to the apartment managers...they can help a lot...call the utilitiy companies...they can give you rough estimates
338611
Because it's likely in the lease. Rent might be different if more people were living there. I know that if I'm to have a guest for more than 2 weeks I need to inform my landlord and get their permission.
952452
Don't wait till closing to ask for concessions.  They should be part of your contract to buy.  If they are not in the contract to buy, they do not have to be given for the sale to close and you will be the loser.
1182881
Personally if they are newer tenants I'm at their door on the second of the month asking where the rent is.  If I do that a couple of times they seem to get the message.\n\nBe careful with late payment fees.  Many states control the earliest you can charge them and how much you can charge.  I too tried the idea of a discount if rent is received by the first and a small claims judge ruled that it was a transparent late fee that was charged too early, cost me about $225 including court costs.\n\nIf the tenant isn't on a lease (which I never do) and they are often late - raise the rent.\n\nIn my humble experience leases only protect the tenant and provide the landlord very little advantage.  The tenants usually don't have that much to lose, and it's not worth my time to chase them for less that $1,500
173919
local law might protect the renter by invalidating the contract clause that is not reasonable. check with an attorney specializing in rental law.\n\nanother solution is that you might want to approach the seller of your home to help you to pay the remaining 5 month rent. include that in your purchase contract clearly though.
1034999
The 30$ fee is not required, it's bogus. You aren't going to get the lease.\nLook somewhere else.
691723
1.  Contact local real estate agents.\n2.  Advertise in the classifieds.\n\nBe careful.  If you miss a payment, the owner of the property can evict you and keep all the money you have paid them.  Traditionally, contract for deed sellers have victiimized poor persons by offering them land very cheap through a contract for deed.  The poor person, usualy an immigrant, "buys" through a contract for deed and builds a house on the property.  If the buyer misses one payment or is late, the seller evicts and the sell resells the house and land to someone else for more money.  Since the buyer doesn't actually own the property in a contract for deed sale, it is actually like renting to buy.\n\nThese types of sales have been used to victimize immigrants in South Texas.
607247
address the people/company you are renting from. i am sure they could work something suitable out for you with your being able to move. they are reasonable people or should be. things happen beyond our control sometimes and i know they know that too. next time you get room mates have them added onto the lease with your leaser. that way you are not totally responsible for everything.
89254
call a broker or resale agency. they are usually connected through loan agencies.