L/O contracts & Repairs… - Posted by JA - MIA
Posted by JA - MIA on July 07, 2002 at 22:03:22:
i noticed that some L/O Agreements mention that repairs are the responsibility of the t/b. also, that major renovations are to be approved by the seller. this is a concept i need clarification on.
the reason the t/b got into the l/o is because at some point they would like to purchase the property. they should take care of maintenance due to the fact that they should start “thinking” as potential homeowners? but at the same time, they need to get approval for major improvements from the seller. obviously, if they don’t option to purchase, then the seller has an improvement that he really didn’t care for.
so… where are the lines drawn? what can, or should, the t/b be responsible for and get away with, and what things should really be prohibited? it’s not so much as to paint and change a door knob style. but what if the t/b sets up track lighting, and perhaps doesn’t really know what he/she is doing. the option isn’t exercised, and now the seller has track lighting with potential hazard implications.
any advice would be greatly appreciated.