Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

4
Posts
0
Votes
Farrah Stephen
  • Elgin, IL
0
Votes |
4
Posts

Lease Option- What repairs are the tenants responsible for?

Farrah Stephen
  • Elgin, IL
Posted

We have been doing a lease option for 5 years and have recently decided to move on. 

The lease generally states we are responsible for repairs with nothing else spelled out and we have been allowed to write off the interest and taxes every year. 

Since being there we have done many improvements and a lot of repairs. One of the biggest repairs was putting in a new water heater

Whenever some repair came up with the house the owner would always state that “he is a bank and we would never expect Bank of American to do any repairs, but if we wanted to forgo our lease option money then we could forfeit that and he would come donthe repairs”

Anywho we have moved out and he is saying the carpet needs to be replaced and that that is our responsibility and if not there is the possibility that he will sue us. 

If I’m reaponsible I just want to know for sure. 

Any insight into this situation is greatly appreciated. 

Thanks. 

Loading replies...