If the tenant doesn't exercise their options then the building becomes the property of the ground lease owner.

They take some money from the claim but they will make sure all of your policy contract rights are being exercised and paid.Good luck.

Typically, with a lease option, if the TB does not exercise the option to buy they forfeit the option fee and any other money paid.

Help them help you.It's great experience to go thru this exercise.

Drop him a note or call him and request an earnest money check and proff of funds, or all of this is for exercise.

An option they get to choose whether to exercise or not.

Check your bylaws-consult Management-follow steps outlined- exercise your rights as an owner-Member.

Be aware that most people offering rent to own are not really looking to sell they are just looking to increase revenue through option fees (only a small percentage (<5%) are ever exercised.

@Robert Taylor This looks like one of those cases where everyone is right, even though they differ.If you are building a long term enterprise, then you can certainly benefit from consistently doing certifiable quality improvements and exercising good will in your transactions.

Also, if you have already seen the list of houses on the docket, I would suggest you do an estimate on every property before you go just for the exercise of it, so you will know after the auction how close you were in your numbers.