With right to sublease, of course. Anybody doing these, especially with some regularity? What has your experience been (average net cash flow, length of term, problems, good points)?
I believe that law applies to resident managers who typically get a free or reduced price on an apartment (and rightly so) for collecting rent and doing minor maintenance. Technically, that person is an employee. This is probably true in many, if not all, states. This is not the same thing as Tenant/Buyers doing their own maintenance on a property they are buying. In that case, the Contract as written would come into play (although Landlord-Tenant Law would still apply should it go to court).
[addsig]
What liability insurance do you require? Is it Rentors Insurance with liability? I took a house Subject2 that had a big doberman and I required them to have Rentors for 500k with me as additional insured so my umbrella would kick in as my landlord policy excluded dogs.
We all know that if a tenant refuses to do the maintenance that they can go to court and court will say that you are still the landlord and must do the maintenance. Requiring your tenant or tenant-buyer to maintain the property sounds good on paper, but it would never hold up in court.
I am confused, a Lease without an Option is called a Lease. Please clarify your queston.
Try to think about the main points of your situation and the help you want. You will get more help if you spend a little more time on your topic.
Thanks for the information Doug!
I believe that law applies to resident managers who typically get a free or reduced price on an apartment (and rightly so) for collecting rent and doing minor maintenance. Technically, that person is an employee. This is probably true in many, if not all, states. This is not the same thing as Tenant/Buyers doing their own maintenance on a property they are buying. In that case, the Contract as written would come into play (although Landlord-Tenant Law would still apply should it go to court).
[addsig]
What liability insurance do you require? Is it Rentors Insurance with liability? I took a house Subject2 that had a big doberman and I required them to have Rentors for 500k with me as additional insured so my umbrella would kick in as my landlord policy excluded dogs.
We all know that if a tenant refuses to do the maintenance that they can go to court and court will say that you are still the landlord and must do the maintenance. Requiring your tenant or tenant-buyer to maintain the property sounds good on paper, but it would never hold up in court.