If a tenant breaks a lease, the landlord can mitigate their damages by continuing to charge the tenant rent until theyâre able to re-rent the unit. If a landlord has to re-rent the unit at a lower amount than what is stated in the lease, the tenant can be charged the difference for the remainder of the lease period.
1. Refinance your mortgage to obtain cash for home repairs. A popular way to pay for home repairs and renovations is through a cash-out refi, which is simply a way of swapping your existing mortgage for a new one and converting some of your home equity to cash in the process.. Seek out a second mortgage. A second mortgage can be an unattractive option as it can tend to overburden you with debt, but for home repairs with an end in sight they are helpful. A second mortgage is a loan secured on your accumulated equity.
In an interview with MSN Money, Ilyce Glink, author of 100 Questions Every Homebuyer Should Ask, advises that homeowners should prepare to spend anywhere from $2,000 to $10,000 annually on home repairs. To keep costs low, do as much of your own maintenance as you can.