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If I enter into a rent-to-own/land contract, what is the responsibilities of the owners?
Do the owners fix any problems that come up, do they do the lawn maintenance, do they treat the property as though they own it and I am renting it from them even though I am renting-to-own? Please elaborate. Thanks!
2 Answers
- acermillLv 71 decade agoFavorite Answer
First off, a 'rent-to-own' scenario is NOT the same as a land contract purchase. In a rent-to-own, all of the items you mention are negotiable, as part of the agreement. The more you expect the owners to do, the higher will be the rent portion of your payment. Land contracts are quite different, in that the buyer is expected to maintain the property as if it were his.
- ?Lv 44 years ago
confident. On a month to month they could enhance the lease as regularly as they desire. They do in spite of the indisputable fact that could desire to offer you a 30 day written be conscious so which you have time to return to a determination in case you desire to proceed residing there or locate new housing. Your extra effective off with a employ so the lease is locked in for the term of the employ, regularly 12 months.
