Q: I’m current leasing one unit in a 3-unit building. I have an option to purchase the entire property.
When leasing with an option to purchase a 3-unit property, who keeps the rents from the other 2 units?
A: The owner keeps the rents until you pick up your option and buy the building. Of course, you could come to a different arrangement, but it would depend what your agreement is with the owner.
If you had leased the whole building from the owner, you would be entitled to the rental from the other two units. You may need to look at your documents and see what you agreed to and discuss any issues you have with your real estate attorney.