Lease Option - Posted by Johnnie

Posted by JohnBoy on January 22, 2002 at 14:54:29:

Typically the tenant/buyer is responsible for repairs and maintenance.

The tenant/buyer only pays RENT. Nothing in the L/O agreement should state anything pertaining to taxes and insurance or principle and interest.

You may want the lease to require the tenant to carry renters insurance that covers their personal property.

Lease Option - Posted by Johnnie

Posted by Johnnie on January 21, 2002 at 21:13:05:

When giving a tenant a lease option. Is it correct that repairs should be their(leasee/tenant)responsibility, and the taxes and the insurance should be maintained by me (leasor/landlord)? Is this correct?