2006-07-05 19:47:56 · 11 answers · asked by rachellynn200 5 in Business & Finance ➔ Renting & Real Estate
The repair obligation will be spelled out in your rent to buy agreement. There is no set standard, it could go either way.
Some agreements have dollar limits a seller is willing to pay for repair/replacement.
If you are about to sign a contract, be sure you add the repairs, including termite treatments, as a condition of the contract.
If you have signed the contract, read it carefully. You will find that section somewhere in the documents.
If you can not find the clause, your dealing with an inexperienced landlord/seller, and it could be a problem for you if a major repair were to occur.
2006-07-06 01:13:16 · answer #1 · answered by Nick R 3 · 0⤊ 0⤋
Usually it falls on the owner to repair. But check your lease. Sometimes you sign one, and it states that since you will eventually own it, it's up to you to repair it. My parents were doing the rent-to-own thing at one point, and it was up to them to fix whatever needed it. So just check over your lease, it should have the info you're looking for.
2006-07-05 19:52:56 · answer #2 · answered by ★Fetal☆ ★And ☆ ★Weeping☆ 7 · 0⤊ 0⤋
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2016-11-01 07:07:54 · answer #3 · answered by ? 4 · 0⤊ 0⤋
it depends on the contract. read it thoroughly, and make sure you have this all clearly stated in writing. if it is a contract for deed (often called a land contract), then it is treated as a mortgage, and the person who is in possession of the property (the "renter", or lessee) is responsible for repairs, insurance, maintenance, etc. on the property. it's just like if you bought the house outright--it's your responsibility. the seller (or lessor) retains title to the property until you make all payments, and after you make the final payment, then you recieve the title.
as always, be sure to GET IT IN WRITING, and CONSULT WITH A REAL ESTATE ATTORNEY!
hope this helps, and hope you have a good day!
2006-07-06 02:04:01 · answer #4 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
Rent To Own Homes : http://RentToOwnHome.uzaev.com/?kTnm
2016-07-11 21:19:35 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Did you get a deed registered at the court house, or was the documents you signed just a lease agreement w/ the understanding that you were purchasing? The person w/ the deed is responsible unless you signed anything differently.
2006-07-11 15:48:53 · answer #6 · answered by K B 2 · 0⤊ 0⤋
The owner is responsible until you own the home. You should have something in writing.
2006-07-05 19:51:20 · answer #7 · answered by Therealmsred 3 · 0⤊ 0⤋
Whoever the title belongs to. If it's not yours yeet, then it's the current landlord's.
2006-07-05 19:49:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋
My husband and I are renting to own and we have to fix it. We can do anything we want to it.
2006-07-05 19:58:45 · answer #9 · answered by Catfishchic 3 · 0⤊ 0⤋
Depends on how it's dictated in your contract.
2006-07-05 20:43:06 · answer #10 · answered by Ender 6 · 0⤊ 0⤋