Hey there, I’m Michael Acquisto, that’s real estate luxury broker Shana Acquisto, lease fixture addendums.

Yes. So as you know, our contracts change. The one to four family contract changed April 1st. And in that contract, there is a section where we can identify if there is a lease in place. Let’s show it. OK, well, this is going to be the addendum. So in your contract, in your one to four family contract, if there is a lease in place, then you must use the addendum to identify what they are. If there’s not, then you don’t need this. But you can’t just you can’t just use or fill out the one to four family contract for the leases.

Lease Fixture Addendum

You have to then go in here and identify them. So this would be anything like a security system if somebody is leasing that solar panels. We’re starting to see more and more of those, and those are leases, so anything that’s permanently attached that someone may be leasing a that is a lease fixture.

And so that one in particular. Right. It’s kind of crazy with solar panels, how expensive they could potentially be and how prevalent they could start to become used just in California. Right. And you said there was a percentage I

Think it’s 70 or 80 percent of the of the homes. Must be solar, have solar.

The power the power used at that property must come from solar that you’re generated on site. And so they’re starting to use a lot more solar. Right, for each new build. And this would be why it’s there. It’s an expensive thing, but over time it does pay itself.

Alexis, you’re starting to go out and get properties, maybe with acreage, maybe you have a propane tank. So you need to be aware of that. And if, you know, is there a lease in place for that? Solar panels. The addendum identifies solar panels, propane tanks, water softener and security system. I would think those are the main ones. But then there’s a space.

If you have something else, there could be like a generate power generator, sometimes have agreements with them for longer periods of time for maintenance in those types of things. So they could are all options. And I appreciate you covering it. Yeah. So you would go through fill this box out correctly and just ensure that you do utilize in place. Sharna is a contract hawk and it’s our job to be here for you guys and make sure that we show you some more stuff each day. Is a lot better.

Yeah. Let’s do the story right. She’s like, yeah, told me that we need to talk about the perfect job. Stacy, do it all right.

Episode Recorded Live on YouTube 4.8.21

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