Seller committing to provide tenants

2 Replies

Hi all,

I'm working on a deal where the seller is committing to provide tenants for 2 years. However, I'm not sure how I can hold him accountable should he breach the contract any time after the deal.

Any idea how to structure it?

Why would the seller want to do that?  Are they willing to guarantee the rent?  

Why would you want the seller to do that?  Do you have any idea if/how they will do background checks?

How could you hold them accountable?  Keep 2 years worth of rent in escrow with the title company or attorney.  But based on the few scant details you provide in your post, I'd NOT be inclined to go that route.  Nope, not at all.

Is his statement on the fact that tenants have two years remaing on their lease, or is the seller guaranteeing rent payments for two years?

Different situations, with separate parties to hold accountable if it does not work out.