How To Negotiate Home Maintenance Charges While Signing For Rent

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There are millions of properties available in the market that one can choose from, you can even categorize them on the basis of region, country, area, cities, and weather. However, when it comes to buying a property you are only left with three options, cash, mortgage, and rent to own homes in GA. Each method has different sets of rules, clauses, and criteria to fulfill. However, when it comes to contract drafting and negotiation, it is recommended that you pay attention to every single clause and also get a professional opinion. And, pay special attention to the home maintenance clause.

Wondering why it is important? Well, the most convincing answer for it is, since you’ll be living in a house for a specific time while paying for utilities, rent, or lease, the maintenance charge could overburden you. Therefore it is important to negotiate it beforehand to ensure a tension-free living experience.

Here in this piece, you will find a complete step-by-step guide consisting of 5 steps that will guide you through the entire process of negotiating. Since most people are unaware of the fact that the company or landlord pays for it, but getting everything in writing can reduce the possibility of confusion.

Step By Step Guide To Negotiating Home Maintenance Clause In Rent To Own Agreement

When it comes to mortgages the bank or the landlord can be held liable for paying the service insurance charges. Unfortunately, most people are unaware of this process and mostly don’t know what steps they should take to ensure everything goes their way. So, here is a guide that you can use as a reference for instant use.

  1. Reaching Out To A Skilled And Expert Realtor – The first thing as a tenant you need to do is get yourself a skilled and experienced realtor. Wonder why, when you can search everything on your own? The reason behind this, not having enough information or knowledge about the local market, along with not knowing what is covered under maintenance charges. In such a situation having an expert by your side can help you save effort, money, and from cheating as well.
  2. Deciding Who Will Be Liable For The Maintenance – Second on our list is negotiating who will be responsible for the maintenance. You can either ask the company who is providing you with rent to own program or in some cases, you can ask the landlord to be solely responsible. Remember, when you are put as the maintenance payer, always ask in detail what things are covered under this term ranging from home to insurance, accidental or damage caused by natural disasters, etc.
  3. Frequency Of Maintenance – Along with deciding the liable person who’ll pay for the maintenance, the next step is to decide the frequency e.g. bi-monthly, monthly, bi-annually, or annually. Deciding this helps you anticipate the cost and negotiate the maintenance ratio accordingly.
  4. Negotiate Reasonable Maintenance Charges – Forth step is deciding on the maintenance cost. Here is a news for you, when a third party i.e. company or landlord is liable for paying the maintenance fee, there is a specific ratio that the tenant has to pay some time it is fixed e.g. $5k to %10k and in rare cases, it is flexible in term of percentage. Hence, deciding this in advance will give you a mental peace that you are secure.
  5. Getting Everything In Writing – The last step is to get everything on writing. It will help you negotiate any kind of issue that concern the maintenance of the house. At the time of emergency, you refer to the agreement to get help. But, don’t forget to read the agreement again or ask your realtor to do it for you. This will help you identify the loophole and ambiguities.

Conclusion

Whether you are planning to buy a house via rent to own program or want to invest in property via a mortgage, always remember to negotiate the maintenance or service charges, especially in the prior case.  It will help you set on the right path with clear rules and regulations. At the same time, you will know what maintenance is being covered and for what you have to save up. So, if you find yourself out of place while hunting for the dream house or negotiating the service payment then it is recommended that to consult an experienced and certified realtor.

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About the Author: Ayushi Choudhary

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