Best answer

You are only obligated to pay rent

People also ask

  • What does it mean to rent to own a house?

  • Renting to own is basically a hybrid approach to buying a home where all or a portion of a lease payment goes to building equity in a home over time. It is usually a process by which the owner of a home allows a renter to build equity without having to make a down payment or secure a mortgage. What are the advantages of rent to own agreements?

  • Do you pay taxes when you rent a home?

  • When you rent a home, you do not pay taxes and homeowners insurance directly. The homeowner, however, has probably taken these figures into consideration when coming up with the amount of your rent.

  • Do you have to have insurance if you rent to own?

  • Rent to Own. Even when renters have entered a rent-to-own agreement with the property owner, the owner of the house is still usually required to maintain full homeowners insurance and pay all the property taxes and other fees, such as homeowners association dues, while the renter is still renting.

  • Who is responsible for paying property taxes when renting a house?

  • When you rent a house, you are only obligated to pay rent. Property owners must take care of business matters related to the homes they own, and that includes paying the property taxes and keeping the home insured. Although it is the landlord’s responsibility to pay taxes…