Leases may require tenantsto be responsible for repairs

Prospective  tenants need to read their leases carefully. Some leases now require tenant to be responsible for “wear and tear” repairs,  which has customarily been the responsibility of the landlord. “Wear and tear” is a vague term and the lease should specify the type of repairs the tenant is expected to pay for. Tenants should not leave this to and interpretation after the lease is executed. Here is an excerpt from a lease we recently reviewed: Read your lease carefully line by line and ask for revisions, if the section on repairs is unclear. If you need a lease or contract review, please contact info@theclosingcompany.net

Legal disclaimer: The Closing Company is not  a law firm and is not providing legal or tax advice.  For legal advice, please consult with a licensed Attorney. Please consult with a CPA for tax planning and tax advice.