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STEP 7 - AGREEMENT

You can choose a standard lease/rental agreement or you can customize. Hire an attorney. See our resources section for lease agreements.

You should consider agreeing to mutual inspections of the properties, perhaps on an annual or semi-annual basis. Who is responsible for small repairs? What about large repairs?

Each party should be responsible for their own mortgage and assessment payments. Who is responsible for special assessments?

Remember, this is a dynamic process. Be comfortable with what you're willing to agree to. Make it mutual.

 


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