Ask Me Help Desk - Lease Purchase on my Home

I did a lease purchase on my house in January 2011 and the people who are suppose to buy it have until Dec. 31st to purchase it. Now that I have been dealing with these people for a year and a half I know there is no way they will be able to get a loan to buy this home. The never pay the rent on time - example - received a text from them today saying they would give me a money order sometime over the weekend. I do not want to extend this lease but I would really like to get them out so I can sell the house. I am a widow and not up to being a landlord. My lease says that I do not have to accept rent from them after the 10th of the month but if I don't I can't pay my mortgage. I don't want to wait to December to find out what I already know. Can I accept the rent and evict them? I cannot really afford and attnorey and I really feel like I am being taken advantage of as they don't seem at all concerned if the don't pay the rent on time. In fact they have never, not once paid on time. This is a bad situation as I live right next door. Open for any advice.

Without knowing where you are it's impossible to say -

Oh, I live in Georgia.

You need to read the contract. In a lease for sale the written contract governs everything.

You need to especially read the portion that refers to defaulting. You indicated it says you do not have to accept rent after the 10th. What does it say happens next?

That you are going to have make do without the rental for some period, maybe several months. Generally when a buyer defaults on a contract for sale, then it reverts to a rental lease. You then have to give them a termination of tenancy according to the rules set in the contract. If they refuse to leave, you will have to file for an eviction order in court. Once you get them out, you will need to list it until you find another buyer.

Sorry to be rude or blunt, this is why you have no business being a land lord, if you coan not pay the loan without the payment, what are you going to do is the air conditiner goes out and there is a 1400 dollar bill to fix it, what do you do if there is storm damage and you have to replace the roof.

Who is paying the insurance on the property, I hope you are,

But next how much late payment do they have to pay, and are you getting it ?
You can declare them in default ( assuming your lease allows) and evict them, you can expect to take abount a month to two month getting them out, in which time they seldom pay. Then you can expect to have to fix the house up to rent or sell. So you can assume you willl be out of three months at least to kick them out and rent to someone else.

What is your plan if they just did not pay this month ? Have you given them pay or quit notice yet, have you notified them of the late payment fee due ?

You are rude and before you basically call someone and idiot, you should have all the facts. I didn't have any desirer to be a land lord. My husband passed away after a long battle with cancer and after he died I knew I could not afford to live in this house on my income alone. I tried to sale the house but couldn't sell it because of the economy so my realtor suggested I lease it, so that is what I did. We did check the people out an at that time they looked good on paper. Per the lease agreement I am responsible for nothing that goes wrong with the house that is the other reason I leased it because they agreed to take full respondsibility for everything including the air conditner, furnace, etc. I do have insurance on the house that covers storm damage or anything like that.

I have made them pay me a 75.00 late charge one time. The lease states that if they pay after the 7th day of the month they have to pay a late charge. If they don't pay the rent by the 16th which is when my house payment is consider late than I will pay it.but it will be a hardship on me to have to do this.

Since writing my first letter above, I have basically text them and told them if the rent is not paid by today that I will start the exviction process. They have text me and said that it would be paid by the time I get home from work.

I did not know what a pay or quit notice was until you mention it and I looked it up online to familiarize myself with the process. According to Georgia law I have to give them 7 days. I do plan to put everything I said to them in the text in writing and give it to them. I have kept all the notes they have left me about paying the rent.

But now I am a little confused as far as giving them the notice. If they do pay the rent today can I still give them a notice that I want to void the lease and have them move. Financally I am not sure what I will do if they move and don't pay the rent for the next three months. Right now I am just going to have to deal with that one day at a time.

I would like to put the house back up for sell and maybe it will sell this time. I have equity in the house that I could really use.

So, just for the record, you are right. I have no business being a land lord. Trust me I didn't wake up one day and say oh I want to be a land lord. What I really want is not to be one and get on with my life.

So my question is if they do pay the rent can I still evict them without getting an attorney. I was just looking for some nice friendly advice.

I hope I have answered all your questions. And, by the way would you like to buy a house in Georgia, I would be glad to sell it to you.

FrChuck is in Georgia - he's likely to make an offer! I LOVE that ending to your post. Great line.

My concern is that the lease was prepared without a consultation with an Attorney. NO WAY would I do anything, including an eviction, without at least a one-time appointment with an Attorney.

I'm sorry about your husband - I was widowed after a 5 year battle and I know how helpless and overwhelmed I felt. I hope things are going better for you.

Quote:

Originally Posted by jaydonrock

I hope I have answered all your questions.

Hello j:

All you did was muddy up the water... If it's simply a lease, I don't know why you talked about a lease/purchase... One ISN'T the same as the other..

But, let's assume it's a lease, and they're behind and you want them out. Then you need to begin the eviction procedure TODAY.. It begins with a pay or quit. If you TAKE their rent, then you can't evict them.. So, DON'T take their rent. Go to your local courthouse and file for an eviction... If your court is efficient, and your local sheriff is efficient, and YOU'RE efficient, you could have them out in a months time.

Yes, you're going without money. Yes, they'll probably damage your house. Yes, this experience is going to cost you.. Yes, I know you were between a rock and a hard place... Usually, being in that spot HURTS. This time is no exception..

If it's a lease/purchase, then everything changes... Just so you know, in the law, wording is EVERYTHING.

excon

Quote:

Originally Posted by JudyKayTee

FrChuck is in Georgia - he's likely to make an offer! I LOVE that ending to your post. Great line.

My concern is that the lease was prepared without a consultation with an Attorney. NO WAY would I do anything, including an eviction, without at least a one-time appointment with an Attorney.

I'm sorry about your husband - I was widowed after a 5 year battle and I know how helpless and overwhelmed I felt. I hope things are going better for you.

Thank you. I see now that I should have had an attorney - they had a realtor and so did I. They gave me 5000.00 ernest money that they will lose if they don't buy the house. I in turn pay each of the realtor's 1100.00 which I am sure I will never get back. Trust me I will never do this again.

Quote:

Originally Posted by excon

Hello j:

All you did was muddy up the water... If it's simply a lease, I dunno why you talked about a lease/purchase... One ISN'T the same as the other..

But, let's assume it's a lease, and they're behind and you want them out. Then you need to begin the eviction procedure TODAY.. It begins with a pay or quit. If you TAKE their rent, then you can't evict them.. So, DON'T take their rent. Go to your local courthouse and file for an eviction... If your court is efficient, and your local sheriff is efficient, and YOU'RE efficient, you could have them out in a months time.

Yes, you're going without money. Yes, they'll probably damage your house. Yes, this experience is going to cost you.. Yes, I know you were between a rock and a hard place... Usually, being in that spot HURTS. This time is no exception..

If it's a lease/purchase, then everything changes... Just so you know, in the law, wording is EVERYTHING.

excon

It is a lease/purchase and not a lease. So what do you mean when you say everything changes. I think the last answer I received about getting an attorney is probably what I need to do.

If it is a lease purchase, the contract should specify what happens in case of default. You can't give them a pay or quit notice until they are in default. Generally, if they default according to the terms of the lease, then the lease reverts to a rental lease. So your pay or quit notice would have to state that you are declaring them in default according to the terms of the contract and the lease is now a simple rental.

Hello again, j:

Getting a lawyer WOULD help a lot.. Then you're assured they're OUT without any blowback. This shouldn't cost more than $1,500 - $2,000.

excon