All Forum Posts by: George Lewis

Is it illegal to tie the purchase price of a house ( that you lease to a tenant/buyer) to a real estate index or an inflation index of the area? It would seem it would make more sense to do that then try to estimate what the purchase price of the house (or similar houses) would be in 3 years. I do understand the risk here to the landlord / owner if housing prices take a nose dive in the area.

0 Votes

Huntsville, Alabama

Quote from @Michael Carbonare:

As Ken has already said, tenants pay rent. They do not pay property taxes, homeowners insurance, or the owner's HOA bill. If the rent covers any or all of those, fine. But ultimately they remain the responsibility of the homeowner.

Thank you!

0 Votes

Huntsville, Alabama

Quote from @Account Closed:

Quote from @George Lewis:

In Lease Option or Rent-to-Own agreements, do the Tenant Buyers normally pay the property tax? I can see a huge downside to me (the Landlord / Owner) for that responsibility be placed on them.

Tenants do not pay for things they don't own. The person who's name is on the deed pays property tax and landlord insurance and HOA, if any. Those are items rolled into the monthly lease amount to the tenant but not paid directly by the tenant.

Thank you!

1 Vote

Huntsville, Alabama

In Lease Option or Rent-to-Own agreements, do the Tenant Buyers normally pay the property tax? I can see a huge downside to me (the Landlord / Owner) for that responsibility be placed on them.

0 Votes

Huntsville, Alabama

All Forum Posts by: George Lewis

George Lewis has started 2 posts and replied 4 times.

Post: Purchase Price Tied to an Index?

Post: Property Tax Responsibility for Tenant Buyers

Post: Property Tax Responsibility for Tenant Buyers

Post: Property Tax Responsibility for Tenant Buyers