LANDLORD RIGHT OF ASSIGNMENT

 

Landlords have a right to assign a part or all of their rights to whomever they will, however Landlords can not assign any Lease rights under the LEAM network unless they are Registered Tenants screened by NERPHRA. 

 

The right of assignment is a legal document that allows Landlords to transfer a part of their rights to another, namly an investor with the understanding that

the Landlord will up on approval will accept the amount quoted from LEAM based on the starting bid with the hopes that that amount will be higher at the closing.  

 

The Landlord has also agreeded to mantain the upkeep of the property in which the current Tenant of the Leasehold estate occupies and to keep and preform the same.  

 

The LEAM assignment document has also designed to assure the investor that the Lease holder is also aware of the entire transaction, making the transfer of the transaction simless, by placing the the Tenant on notice that NERPHRA will give them the name to make rent payments.

       

 

LANDLORD OBLIGATIONS 

 

The Assignment obligates the Landlord to keep and preform the same up on transfer of rights regarding the property and the Tenant, leaving the investor free from the day to day envolment of the Landlord business. Up on tranfer the Landlord also maintain any security deposits, and up on termination of the Lease provided that none of the covinece in the agreement has not been broken will return said security deposit. The Landlord now only manages the property and the upkeep of the unit.  Anything relating to damages, infractions and or misconduct of the Tenant is managed and charged and paid to the Landlord, not the investor.  Five day, Ten day  and Thirty day Notices are only submitted to NERPHRA if the Landlord is a particapating member. NERPHRA will reach out to the Tenant regarding the issue.  None member Landlords can take the Tenant as far as court for damages to the property only.  

Up on sale of the property the rights of assignment must be convyded to the new owner/buyers. 

 

 

INVESTORS OBLIGATIONS

 

The LEAM network up on transfering the rights of assingment, insure the Tenant will treated under the human act and the FHA laws by issuing the laws to the investor. The investor has little to no obligation to the property but to the Leaseholder, with no overhead of mantaining the property place the investor in a great position, leaving the investor the ability to make payment plan arrangements for payment if needed to secure all payments by the end of the term of the Lease.  and let your users know a little more about you.

Regarding risk.  If the Tenant does not make remaining payments the investor can start evection proceedings for none payments only.  Unlike most investments the loss rate is 50/50 due to the fact that the investor purchased a contract and that the Leashold estate can be sued for specfic preformance. and the investor has a chance to re coop from a loss.  Unlike other investments Assignments can not be placed on the LEAM network by investors. 

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TENANT OBLIGATIONS

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The Tenant has shown by way of NERPHRA that they regard their rental credibility.  

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To make timly payments regardless of ownership. 

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Tenant are to maintan the property and keep and preform the same.