Lease Option Repairs/deductible?
Hi Everyone -
For an owned property that you are L/O, what do you suggest putting in the contract for repairs? I have a $1,000 deductible on the homeowners insurance. Should I have the tenant buyer cover up to $xxx.xx in repairs, and I cover anything over? Or should I try to get them to cover up to $1,000 in repairs and hope anything over that is insurable? I beleive I read that even in a L/O you as the owener are ultimetly responsible as a landlord. Any suggestions are appreciated, I would be greatly interested in hearing "best practices".
Mike
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