Who is Responsible for Repairs in a Rent To Own?

This is negotiated upfront BEFORE you move into the rent to own home. In most cases, the tenant is responsible for repairs to the home during the lease.

But, these are details that you NEED to work out upfront, so make sure you include them in your lease and option agreements.

Issues and repairs WILL come up during your lease period before you buy and anything you agree to verbally that is NOT in writing will not be legally binding.

This is important if major repairs are required during the lease period. Consider how you would handle a major repair like replacing the roof or a/c unit.

Keep This In Mind…

Often times, a buyer becomes so excited about a “good” deal they end up agreeing to take on more responsibilities with the rent to own home than needed.

Remember, although you expect to own the home within a short period of time, all the money you pay out toward repairs and upgrades to the home will be for nothing if you find yourself unable to purchase!

Not only would you experience the heartache of being unable to purchase your dream home, you may feel “cheated” when the owner reclaims the property with all of the nice, new upgrades that you paid for.

Speak Your Mind

*


*