All Topics / Help Needed! / lease option info

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  • Profile photo of Pro investorPro investor
    Participant
    @pro-investor
    Join Date: 2003
    Post Count: 108
    May 14, 2007 - 3:37 am

    Hi Everyone

                     I have a property with a $650 000 loan the tenant it renting for $1150 a week and wants to do a lease option on the property how do i go about this and does the weekly rent go up.

    Thanks Rob

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    May 14, 2007 - 4:06 am

    The terms of the Lease Option will need to be documented by your Solicitor and the monthly repayments will be geared to the Contract. It will depend on whether you are offering a straight Lease To Purchase or whether you are inclusing a balloon the end payment.

    Your Solicitor should be able to help you word the document up accordingly.

    Richard Taylor | Australia's leading private lender

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