In the contract with investors, property owners agree to:

  • Keep all property-related payments current, including but not limited to mortgage, property tax, and insurance payments
  • Maintain property insurance. Property owners agree to maintain hazard insurance on their property equal to the property’s value. It must include fire and any additional hazards typical for the area. 
  • Keep the property in good condition. Any severe issues needing repair should be handled before the agreement.
  • Keep investors notified of any significant changes to the property, such as:
    • Selling or transferring the property
    • Placing a lien on the property
    • Filing for bankruptcy
    • Fire or hazard damage
    • Receiving a notice of condemnation

It is recommended that you read the agreement you make with investors very carefully and get legal advice, if necessary, so that you fully understand your commitments.