My husband and I are renting the perfect size house for us in a seemingly perfect neighborhood. We don't want to move b/c we are getting a great deal on the rent compared to local mortgages.
We are slightly interested in renting to own, and so is our landlord. He is really nice but lives far away from us, so he can't get out to the house much. In fact, he hasn't been to the house in the last 5 years!
We know the prevous two renters and go to church with them. The same carpeting, kitchen cabinets, kitchen appliances and light fixtures have been in the house since it was built and we are so embarrassed when company comes over, but we don't think we should have to pay to replace all that, especially if we don't decide later to buy the house.
How can we ask our landlord to renovate it? Obviously we wouldn't ask for it all to be done at once- just knowing he will change it would help us feel better. Should we ask? When do we ask? Any ideas?
2006-12-10 07:24:35 · 6 answers · asked by Adje J 3 in Business & Finance ➔ Renting & Real Estate
What my parents did was; Work a deal on the repairs, IF, you can do the labor, the landlord deduct the materials off the rent, maybe some labor too. It improves the house. Rent to own depends on the Landlord. When may parents approached their Landlord (He was a good man), he say "wow! if you want to buy the house, we just let what you have paid on rent go toward the down payment"! Then they worked out the details for interest, selling price and number of years.
To ask; "Would you be willing to blah, blah, blah, if we do the labor"? "Would you do a rent to own and how you want to work this"? "Would you let some of our rent go towards the down payment"? Many Elderly people, can be very accommodating, younger people may be too greedy.
2006-12-10 07:38:29 · answer #1 · answered by Snaglefritz 7 · 1⤊ 1⤋
Definitely ask. Since you are on a buy-to-own lease, the landlord will most likely want a higher rent rate in exchange for the improvements. This way you will be the ones paying for the improvements, but if you decide not to buy, the next tennant will pick up the cost.
2006-12-10 07:34:02 · answer #2 · answered by Edward M 2 · 0⤊ 1⤋
You should buy the place, and a contract of sale is a good way to do it (although I would hope that after having lived there for five years, you would have saved enough money to buy it outright). A contract of sale is a perfectly reasonable way to proceed, but the paperwork is complex as it entails two separate agreements: the rental agreement, and the option to purchase. Part of the paperwork would be to execute and record a Memorandum of Option, which would put prospective purchasers on notice that you got there first. If you aren't familiar with this, best to see a lawyer; I could do this without one, but I've been around the block a time or two and know where the bodies are buried.
2006-12-10 07:31:42 · answer #3 · answered by Anonymous · 1⤊ 1⤋
wow, your in a rough function. good, I can let you know why shes doing it: individuals consistently lash out at the individuals they love essentially the most. they do that motive they recognise the ones individuals will come again. additionally she sounds kinda, good... such as you mentioned determined. so I'm guessing she is aware of that herself and is pissed off. she seems like shes in style of a multitude proper now and given that her mothers and fathers are not doing this seems like you'll be able to need to. here is what I might do: take a seat her down, simply the 2 of you privately, and provide an explanation for to her first how so much you care approximately her. subsequent inform her that your now not precisely definite what you probably did fallacious and your relatively sorry for it (I'm definite you did not do whatever however that is going to be relatively the one factor that works) however you've got her quality pursuits at center. make her observe that what shes doing (courting any man she will be able to get her arms on) would grow to be being particularly damaging to her and your concerned. ultimately, inform her you like her (or something) for who she is, now not what style of man she dates and also you wish you men can nonetheless be peers and you'll be able to consistently be there for her. well success and wish this helped!
2016-09-03 08:55:33 · answer #4 · answered by ? 4 · 0⤊ 0⤋
offer to increase your monthly rent so the landlord will have a reasonable return on his property
2006-12-10 07:31:30 · answer #5 · answered by john d 1 · 0⤊ 1⤋
It would be unreasonable to ask him to improve it and keep paying the same rent.
2006-12-10 07:34:29 · answer #6 · answered by mickeyg1958 4 · 0⤊ 3⤋