{"id":19191,"date":"2024-11-13T04:02:06","date_gmt":"2024-11-13T12:02:06","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=19191"},"modified":"2024-11-13T09:53:14","modified_gmt":"2024-11-13T17:53:14","slug":"buyer-rent-to-own-homes","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-rent-to-own-homes\/","title":{"rendered":"Rent-to-Own Home Maintenance: Who Does What, and Who Pays for It?"},"content":{"rendered":"

A rent-to-own strategy<\/a> could be a legitimate way for a would-be buyer with a lower credit score<\/a> or a smaller down payment to realize the dream of becoming a homeowner. In short, this arrangement allows someone to live in a house as a renter with the intent to close on the home at a future date.<\/p>\n

If you\u2019ve decided a rent-to-own home could be right for you, you\u2019ll want to make sure you\u2019re clear on all the pros and cons<\/a>. And you\u2019ll need to understand the logistics for your specific arrangement.<\/p>\n

Important among them: who handles any maintenance issues, and what are some biggies that might make you consider walking away instead of moving forward with this rent-to-own home<\/a>? Our expert-backed primer covers all the maintenance questions buyers should be sure to ask about a rent-to-own home to help you avoid any difficult and potentially expensive situations.<\/p>\n\n\n\n\n\n

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Work With a Top Agent to Find a Rent-to-Own Home<\/h3>\n

When considering a rent-to-own home, working with a real estate agent experienced in these types of deals can help you navigate the process and find a great deal.<\/p>\n \n

\n Find Agent<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n
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Why do buyers need to worry about problems in rent-to-own homes?<\/h2>\n

Well, that\u2019s a pretty simple question to answer.<\/p>\n

\u201cThe biggest reason why buyers have to worry about rent-to-own home condition is because that home will be theirs, officially, once they own it,\u201d says top-selling Florida-based agent Kathy Aparo-Griffin<\/a>. \u201cSo they’re going to have to deal with these issues.\u201d<\/p>\n

The specifics of that rent-to-own arrangement<\/a> \u201call depend [on] how the agreement is written,\u201d Aparo-Griffin explains. One common (but not always standard) inclusion in a rent-to-own contract is asking the buyer to handle any repairs needed while they occupy the house.<\/p>\n

This stipulation has an upside for the buyer, too: if they are \u201cgoing to treat their home as if they already own it, then any roof leak, nonfunctioning AC, any of that is going to be a problem in the future when they go to technically<\/i> own it and get a mortgage and get rid of the seller from the transaction,\u201d the agent notes. Taking care of any maintenance issues proactively will benefit the buyers long-term when they become homeowners.<\/p>\n

Indeed, Aparo-Griffin says, \u201cusually it’s the buyer\u201d handling these responsibilities and costs in a rent-to-own situation.<\/p>\n

\u201cIf you\u2019re doing a rent-to-own, you are technically a vested, soon-to-be owner. So you have to treat that place as your own. It\u2019s always up to the real estate brokerage firm that\u2019s writing up [the rent-to-own agreement] to clarify that, but for the most part, it’s usually on the buyer.\u201d<\/p>\n

However, that\u2019s not always<\/i> the case. \u201cI have written up some rent-to-owns where the seller is responsible up until a certain time period when the buyer actually gets a standard loan,\u201d Aparo-Griffin says. So you have options!<\/p>\n

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Standard maintenance issues for buyers to expect<\/h2>\n

Every home comes with standard maintenance matters<\/a> that owners \u2014 or owners-to-be \u2014\u00a0should keep top of mind.<\/p>\n

Here\u2019s a general list of things to think about.<\/p>\n

Cleaning out the gutters<\/h3>\n

Who\u2019s responsible for doing this, and when will it be done? Homeowners should remove any debris from their gutters and clean them out annually.<\/p>\n

Clogged gutters can lead to roof damage \u2014 an expensive repair \u2014 so this ounce of prevention can save buyers significant money long-term.<\/p>\n

Replacing air filters<\/h3>\n

Who performs the task, and who pays for the filters? Air filters range in price<\/a> depending on the size and thickness of the filter. Thinner filters are supposed to be replaced monthly, while thicker filters can last up to a year (and are more expensive).<\/p>\n

Dirty air filters waste energy because your systems have to work harder; they can even cause your HVAC system to overheat or malfunction. And, of course, replacing air filters will maintain good air quality in your home.<\/p>\n

Maintaining landscaping<\/h3>\n

This may include mowing and watering the lawn, and generally keeping up the landscaping around the property.<\/p>\n

Is this the responsibility of the buyer or the landlord, and at whose expense? Is there a professional service that handles this, and who arranges and pays for it, if so?<\/p>\n

Landscaping isn\u2019t simply a matter of curb appeal. Paying attention to how water drains around the home when you\u2019re watering the lawn, for example, can alert you to structural issues with the house before they become acute.<\/p>\n

Cleaning the fridge coils\u00a0<\/b><\/h3>\n

First, you\u2019ll want to establish whose fridge it even is: will it eventually come with the house and pass to the rent-to-owner if it belongs to the seller?<\/p>\n

Cleaning the fridge\u2019s coils helps the fridge operate at maximum efficiency, so maintaining this part of the house will save the renter and future buyer money on their energy expenses. Plus, if the fridge is coming with the house, buyers will want to make sure it\u2019s operating at peak condition, anyway.<\/p>\n

Clean the dryer vent<\/h3>\n

Again, who owns the appliance in the long run, and who is responsible for it during the rental period? This is another example of a fix that can save buyers money on their energy bills, but backed-up lint and debris in dryer vents can also start fires. For $12 on Amazon<\/a>, you can order a vacuum attachment to help you handle this maintenance job.<\/p>\n

Other standard maintenance tasks<\/h3>\n

Other tasks for which to establish responsibility include such home maintenance issues as:<\/p>\n