www.wendypatton.com http This week Wendy discusses the importance of contract reviews and pre-paid legal. Pre-Paid Legal is an essential tool for the real estate investor. If you don’t have it you can find out more at: www.GotLegalPlans.com
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In California it is absolutely illegal to ask tenants to do repairs, even if they have an option to buy in place. If they are paying rent to a seller/landlord, the seller/landlord cannot ask tenants to pay for any repairs, even if tenants agree to and sign an agreement or lease that says they will pay for repairs. This has a serious impact on most lease option systems working. Cover yourself in this area, don’t even go there with tenant repairs.