Q: I have four small rental homes that are older and are really starting to show signs of wear and tear. I am constantly receiving calls from my tenants about something that is broken or needs to be replaced. This is getting expensive and is cutting into my cash flow that I need to pay my own living expenses. So a friend of mine said he read a book on property management that suggested requiring the tenants to handle all repairs as part of their lease. This sounds great so I was thinking that I would send my tenants a written notice advising them that when they renew their lease I am no longer going to be responsible for the upkeep and repair of the air conditioners, gas heaters, or any of the kitchen appliances. They will accept them in "as is" condition, and the tenant will pay for all repairs or replacement if they break. What do you think about my idea? A: If it sounds too good to be true, it probably is too good to be true. I would strongly advise against s...
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