Buy/Lease

[taninthai]

19 minutes ago, alfieconn said:

 

Where in the post you quoted did it mention the reasons why people would take out a 30 year lease ?

 

On another point what did you mean when you said  ? .I don't think many take a 30 year lease with the intention of giving it up after the 30 years

Um pretty obvious really many take a 30 + 30 + 30 year lease ,but as most know the owner of the property is under no obligation to re- new the lease after the first 30 years and a contract like this can actually void the original lease.

Imho opinion most of the people tha opt for the lease are old guys that are gonna probably be dead before first 30 years expires.

I can't see any reason why a younger guy say 30-40 years old would go for a 30 year lease.

[alfieconn]

6 minutes ago, taninthai said:

Um pretty obvious really many take a 30 + 30 + 30 year lease ,but as most know the owner of the property is under no obligation to re- new the lease after the first 30 years and a contract like this can actually void the original lease.

Imho opinion most of the people tha opt for the lease are old guys that are gonna probably be dead before first 30 years expires.

I can't see any reason why a younger guy say 30-40 years old would go for a 30 year lease.

 

Well in another post you said the reason being

Quote

they are more seen as a path to ownership here

 

Anyway by your last comment you seem to be getting there now 

[taninthai]

8 minutes ago, alfieconn said:

 

Well in another post you said the reason being

 

Anyway by your last comment you seem to be getting there now 

Ok....all good then ,,,we will leave it at that?

Enjoy the rest of your day?

[blackcab]

13 hours ago, taninthai said:

...take a 30 + 30 + 30 year lease ,but as most know the owner of the property is under no obligation to re- new the lease after the first 30 years...

 

The original lessor would have a contractual obligation to renew the lease. The problem, of course, is that in a case of non-performance the lessee would have to take the lessor to Court...

 

A much bigger problem is that if the lessor sells the property, the new owner is not obliged to renew any additional 30 year periods. Your first 30 years are protected, but additional periods less so.

[overherebc]

Just to get things straight.

We are thinking about our house that we would let someone rent/lease for 10/20/30 years or whatever period we and they agree to.

I asked if there was any calc' that might be the norm. 

I know now that for 30 years it's normal here to use the purchase price.

Thinking through,  10 or 15 years  would suit us better.

Thanks for all the answers.