Question
Janet owns a three bedroom condo which she rents out. In 2000 she agrees to rent it to Bill and his family for $1100.00 per
Janet owns a three bedroom condo which she rents out.
In 2000 she agrees to rent it to Bill and his family for $1100.00 per month.
At the time Bill asks if she is interested in entering into a rent to own agreement. Jane says "yes" she is interested. They agree that $200,000.00 would be a fair price with a target completion date in 2 years. Jane says that Bill should pay $500.00 additional per month towards a down payment.
Bill does not pay the $500.00 per month; however, he does make improvements to the property including renovating the kitchen. Bill says that he purchased supplies and put in 100 hours of manual labour. Bill says that a reasonable hourly rate for that labour is $20 to $23 per hour and therefore he is owed $20,000.00 plus material. Janet is unaware that Bill was doing the improvements until after they were done.
2 years later in 2002, Jane says that the value of the condo has gone up and that $200,000 is no longer acceptable. Bill says that he will pay $215,000 if Jane takes back a second mortgage for $30,000. Jane says no to the second mortgage.
In June, 2003 Jane gives Bill Notice to Vacate.
Bill sues
Questions:
What remedies could Bill sue for?
Has a contract been concluded at any point? Why or why not?
That's all I have!
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