T/B Repair Responsibilies
Are the T/B responsible for all repairs on the property?
In the event damage does occur while the T/B is in the property, can you sue the T/B for those damages if they decide not to excercise their option?
Would it be smart to offer a homeowners insurance policy as a selling point for your L/O property to the T/B?
Thanks
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Yes and no. Contractually the T/B is responsible, and failure to do so can result in loss of all monies paid and forfeiture of their Option; however, ultimately, they are still Tenants, and you are still a Landlord, so the property is subject to Landlord Tenant Law.
You can always sue a Tenant for damages (if you have successfully complied with Landlord-Tenant Checklist requirements).
I always suggest that the T/B obtain a Home Warranty (but it will not pay for deliberate damage).
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