Late Rent With T/B
What can be done if the t/b is late with rent on the 6 month on a one year term ? When (ie- $200 extra of the tenants money and $200 of my money for for every month is put towards the purchase price -> a total of $400 every month is put towards the purchase price.
What does your contract with the t/b say?
This should be addressed in your Contracts. Generally, the T/B forfeits rental credit for the month in which they are late.
[addsig]
So that means that thier $200 that they would normally pay, which would go to the purchase price, They would still fork it up and it would just go straight into my pocket. Right!
Yes, the rent stays the same, but they lose the credit.
[addsig]