Question about a Vendor offering a 2 years rental guarantee.
All other fundamentals of the deal stack up, however, I?ve never seen this before except on OTP properties. This property isn?t OTP, it was purchased (I assume via an option) by a developer/real-estate agent & is just about to undergo 12 weeks of cosmetic Reno?s (to common areas and some units in the block)
Is there a way to enforce the rental guarantee? If the Vendor essentially owns zero assets, It could potentially just wind up and leave everyone with no rental guarantee? How can I do a thorough DD on a vendor offering rental guarantee?
All other fundamentals of the deal stack up, however, I?ve never seen this before except on OTP properties. This property isn?t OTP, it was purchased (I assume via an option) by a developer/real-estate agent & is just about to undergo 12 weeks of cosmetic Reno?s (to common areas and some units in the block)
Is there a way to enforce the rental guarantee? If the Vendor essentially owns zero assets, It could potentially just wind up and leave everyone with no rental guarantee? How can I do a thorough DD on a vendor offering rental guarantee?