Jun
30
what kind of contract is best to rent house for free just to fix it up?
By
got a house needs fixing up,noone lived there 3 yrs,whats the best contract plan i can write up so i wont b in the loss.rent free to fix up.
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2 Comments
July 4th, 2010 at 3:29 am
A very carefully written one.
You are altering property that you do not own.
There are many pitfalls, and both parties need protection.
Specify what are the alterations permitted/required for what
length of tenancy, who monitors the quality of the work,
required completion dates, value of the work to be done,
codes and standards to be met, and rent rate after completion.
Be wary of ‘handshake agreements’ in this situation.
Even with the best of intentions, “what you say may not be what he thinks he hears”, and vice versa..
July 5th, 2010 at 11:29 am
hun you need to nail down who buys the material
how long it will take to fix
decide how much is your time worth to fix it
and how much residency would be fair for you to get in exchange
It is smart for you to get all this is in writing , as soon as the house repairs are done, the owner could decide to give you notice to move so he can sell the house and you get no recourse
also spell out the fine print, how he want things done, leave nothing to chance and have a witness sign the paperwork