2007-09-09 15:10:33 · 6 answers · asked by complicated 1 in Business & Finance ➔ Renting & Real Estate
As the other people here have stated, check your lease-option. Everything should be stated fully in there.
In my lease options I have the tenant responsible for all maintenance in lease-options. In addition I state that they must get all repairs done within 30 days of notice or they are in default of the lease-option. The reason I do this is that in my opinion I have agreed to sell my house at a future date. The person has agreed to purchase it. I am not allowed to sell the house or do anything because I have the option limiting me. For that limitation the tenant/buyer has to share some of the responsibility. That responsibility comes in maintenance.
I cover all taxes, and since water is a municipality service here, I keep that in my name until the option is exercised.
2007-09-09 15:30:37 · answer #1 · answered by Patrick 5 · 0⤊ 0⤋
Unless specifically spelled out in your contract as being your responsibility, hands down it should be the sellers responsibility to take care of repairs. You are renting, until the time comes when you exercise your option to buy. Until then,as with most rentals, the owner takes care of repairs. Your agreement, whether a straight rental or rent to own, means that the house can only be sold subject to the agreement. The owner is not suffering due to your renting or he would not have agreed to it.
2007-09-13 15:50:06 · answer #2 · answered by j l 1 · 0⤊ 0⤋
It depends on what the contract states. i would suspect you are responsible for all the bills along with the rent (i.e. gas, electricity, water, & in most cases the lawn).
I would not think you are responsible for property taxes, and wear and tear of flooring, roof...major household repairs.
But again...read your contract. Also in almost all contracts if you should move out...you need to give a full 30 days notice.
Hope this helps.
2007-09-09 22:21:03 · answer #3 · answered by Wanna-be-Dear-Abby 3 · 0⤊ 0⤋
Read your contract - it should define what you and what the landlord is responsible for.
Maintenance is generally the responsiblity of the landlord until you exercise the purchase option.
2007-09-09 22:14:48 · answer #4 · answered by Anonymous · 1⤊ 0⤋
When you rent to own. You are only a renter. You do not get title to the property. Sorry. It's just a way to get better quality renters in my opinion.
2007-09-09 22:15:47 · answer #5 · answered by massomia 3 · 0⤊ 0⤋
Check your lease, it should be all spelled out in there.
2007-09-09 22:20:14 · answer #6 · answered by Akbar B 6 · 0⤊ 0⤋