Looking like we will be going with the L/O. The onsite managers stand to lose their commission as well as the unit from their rental pool. We have found the buyer, are doing all the qualifying & maintenance, paying for the legalities & also do not require a 3rd party to manage the unit going forward.
They are already getting “less friendly”.

Legally we are ok to leave them with nothing… but doesn’t seem right morally… have you guys been in a situation like this before???

Hi Terry

Yes I think we need to negotiate with the onsite managers how to work this. They have offered a reduction in the commission if we are the ones who find the buyer – you’re right about the option not being exercised. Will take this into consideration. Thanks.

Hi Terry,

Thanks for that. They’re quite good actually. Just wanted to know what was the norm. We don’t want to cut them out – they’ve certainly done their fair share of work. However, initially we were going to sell normally, hence the normal commission. With rent to own, unless they exercise their option, there is no lump payment to pay them with. – or should we offer to pay them if the lesser takes the option down the track? Your thoughts?
Also, would we pay the 9% monthly commission on the total amount of the rent to buy sum or just on the the amount of rent (not the extra part used to pay down the total amount owing). We think it seems fair to just pay on the rental amount….?
FYI we are in Qld.