For many people, rent-to-own sounds like a simple and practical agreement-live in the house as a tenant, pay rent each month, and have the rent count toward the purchase of the property.
* The landlord is responsible for repairs and maintenance on the property unless a written agreement has been made stating otherwise.. ground rent lease means you own the house but someone else.
Unlike a traditional lease, in which the landlord is typically responsible for making all repairs, rent-to-own tenants usually repair the rental property at their own expense. Many landlords and tenants consider this a fair bargain since, presumably, the tenant will eventually own the home.
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Rent to own agreements are unilateral contracts, meaning only the seller is bound.. Whose job it is to repair damage to a rent to own property is not clear cut.. Essentially, it is crucial to understand who is responsible for paying the various.
i am in need of answers, i have been in a contract for 2 years, i have paid to have my furnace maintained, now the darn thing quit, I know I am responsible for some repairs, but, for a furnace that is 30 years old should i be responsible for replacing it, It is worn out because of age. 2 years in a land contract, and if i let them put the furnace in, they want me to pay them back, should i be.
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A person who is buying a house generally cannot be evicted in the same manner as a tenant. A tenant who is renting a home is not responsible for making repairs. If a seller is trying to evict you, you should contact an attorney right away. Many people who sign rent to own agreements end up evicted and lose all the money they put into the home!
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Landlord responsibilities for rental unit repairs. Or if other issues arise, such as the dreaded bed bugs. The responsibility for maintenance of the home is actually shared by both the landlord and the tenants. The basic requirements of the landlord for any rental property are: The property must meet health and safety standards required by law It.