Home in need of upgrading so I’d lrather sell, but tenants want to stay in it as is and agree to be responsible for repairs&upkeep Is that legal to do
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Home in need of upgrading so I’d lrather sell, but tenants want to stay in it as is and agree to be responsible for repairs&upkeep Is that legal to do
My mother in law stays in separate in-law suite and wants me to rent the main house to two of her friends so that I won’t sell it and she doesn’t have to move. I do not have the funds to upgrade and maintain two properties so I’d just like to sell and not have to worry about the repairs, bills for the property. I explained all this, but she still insists she’s happy and wants to stay and she and her friends will be responsible 4 everything. I want to be sure I can’t be held liable and it would be legal to allow them to do so be4 I agree to this. Please let me know how to handle this
Asked on May 27, 2009 under Real Estate Law, Iowa
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
An agreement to rent property is a contract between the parties. The terms and rights of the parties can be negotiated. Most people use a "standard" lease but it can be modified with a rider. If the tenants will agree to be responsible for the repairs and upkeep then you can indeed agree to that in the rider. You should decide the terms that are important to you: repairs (maybe up to a certain dollar amount); if you would like to approve all major repairs before they are done; if you want to approve all structural reparis or modifications; insurance issues, etc. You should seek legal advice and help with preparing the lease and rider as there is a house on the line. Try the site here: attorneypages.com to locate someone in your area.
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