Posted by Sailor on September 30, 2008 at 16:55:37:
Of course they want it to go on sale for less.
What does your lease say about changes to the structure? The attorneys here may have some advice, but I would immediately inspect the house, documenting w/photos, & start the eviction process. You’ll need to bone up on the best way to do it in your state. I wouldn’t accept any more rent, & I’d check w/my attorney to make sure I was doing things right. If you are not experienced in landlording, look for a highly recommended attorney who specializes in cases like this. However, you might want to do a little sleuthing to see if the tenants have any assets worth pursuing.
I’d be interested to know if this is strictly a civil case, or if, given the extent of the damages, there could be criminal charges.
Note, Pauline, that you are in for a series of expensive lessons, so pay attention & get your money’s worth! I wish you the best, & hope you w/update us.
lease to buy tenants destroyed my property - Posted by pauline
Posted by pauline on September 30, 2008 at 12:38:56:
We leased our property with option to buy a property that was fully liveable. Over the 18 month period, they decided to redo the whole house. They added a 2000 sq ft room with no permits, no GC license or anything. So the house is completely uninhabitable and destroyed and red tagged by the city. Now they dont want to renew the lease and we are left with a house that we cannot rent or sell. I am wondering if we have any legal options. They leasor wants us to let it go into foreclosure.
They did not exercise the option, so its a lease - Posted by Rich-CA
Posted by Rich-CA on September 30, 2008 at 19:59:17:
issue. Treat them like a tenant. Inform them you will get a judgment on them and that future landlords will pass rather than rent to them in all but the worst areas. They will also have problems getting credit and so on. If they have assets, such as a car, they stand to lose those in order to pay off the debt. As a tenant they are legally obligated to return the property to you in virtually the same condition they got it in.
Pursue them as a tenant - its a lot cheaper than foreclosure. Besides, unless they actually bought the house (sales receipt, transfer of ownership, mortgage, etc.) then they are not “owners” and are not subject to the longer, more expensive foreclosure process.
Make sure they know that the option money was for the purchase of the option and is not used to repair the property. Their security deposit and the garnishment of their wages will pay for that.