| I've been a real estate investor for over thirty years | | | | - everyone will save money and it's much simpler.) |
| and I love selling a house on a lease purchase. | | | | Any controversy or claim (except for dispossessory |
| Utilities and Assessments Clause: | | | | proceedings which are adjudicated in Magistrate |
| Simply stated, the tenant is responsible for paying all | | | | Court) arising out of or relating to this Agreement |
| utilities (water, electricity, gas, garbage, etc) and, | | | | specifically concerned with the claimed injury or illness |
| very important, all other assessments such as HOA | | | | of the Lessee/Tenant, his relatives, guests, visitors, |
| assessments, HOA dues, and property taxes. | | | | or invitees, relating to the claimant's use (incidental or |
| Remember, this is a Net Net Net Lease. | | | | otherwise) or occupancy of the Property, shall be |
| Arbitration Clauses: | | | | settled by arbitration administered by the American |
| Try arbitration before you litigate. Use a third party | | | | Arbitration Association in accordance with its |
| to help come to a compromise with you tenant | | | | Commercial [or other] Arbitration Rules [including the |
| purchaser. Be proactive to prevent litigation by using | | | | Emergency Interim Relief Procedures], and judgment |
| this clause | | | | on the award rendered by the arbitrator(s) may be |
| Appliance Maintenance: | | | | entered in any court having jurisdiction thereof. The |
| Remember, this is a Net Net Net Lease. The | | | | Lessee/Tenant agrees to reimburse or advance to |
| appliances are the responsibility of the tenant | | | | Landlord/Lessor, on demand, all legal fees, expenses, |
| purchaser. Kitchen appliances, furniture, hand or | | | | costs, fines and penalties incurred in connection with |
| power tools, lawn movers, power equipment, yard | | | | the defense, contest or prosecution of any claim |
| gymnasiums, etc, that is used on the Property is | | | | made, threatened or asserted by the Lessee/Tenant. |
| gifted to the Lessee/Tenant as an incentive for the | | | | APPLIANCES: (The Tenant is responsible for |
| Lessee/Tenant to rent or purchase the Property is | | | | maintenance of the appliances.) All appliances (if any) |
| the responsibility of the Lessee/Tenant. They are | | | | remain, as a convenience to the Lessee/Tenant and |
| responsible for all this stuff. | | | | Landlord/Lessor assumes no responsibility for the |
| Bottom Line: | | | | operation. No part of the rent is attributable to them. |
| Utilities and Assessments Clause: The tenants are | | | | Any appliance on premises at the signing of this |
| responsible for every thing; excluded from the rent | | | | Agreement shall be returned. |
| paid to the landlord. | | | | Kitchen appliances, furniture, hand or power tools, |
| Arbitration Clauses: Avoid litigation. Agree to | | | | lawn movers, power equipment, yard gymnasiums, |
| arbitration before a controversy arises. | | | | etc, that is used on the Property is gifted to the |
| Appliance Maintenance: It's the tenants' responsibility | | | | Lessee/Tenant as an incentive for the Lessee |
| to maintain. | | | | Tenant to rent or purchase the Property is the |
| The exact paragraph and verbiage is in my Lease | | | | responsibility of the Lessee/Tenant. The Lessee |
| below: | | | | Tenant is responsible for these item's proper use and |
| UTILITIES AND ASSESSMENTS: Tenant pays all | | | | care. The Landlord/Lessor is not responsibility for the |
| utilities, HOA, taxes, insurance - this is a NNN Lease | | | | maintenance, care and proper use of these items. |
| which is customary for a Lease/Purchase contract. | | | | (Hopefully, the following sentence may help you |
| Lessee/Tenant shall pay for all electricity, gas, fuel, | | | | escape liability.) The Landlord/Lessor is not responsible |
| garbage pickup, trash pickup Homeowner's | | | | for personal injury to the Lessee/Tenant (including his |
| Associations Dues, property taxes, property | | | | family, guest, etc.) that may occur from the use of |
| insurance and other services used in or assessed | | | | these items. The Lessee/Tenant is responsible for |
| against the Property. | | | | obtaining renter's insurance personal injury coverage |
| ARBITRATION: (Try to Arbitrate before you litigate | | | | as explained herein. |