What does the Covenant of Good Repair require from the borrower?

The Covenant of Good Repair requires the borrower to keep the property in good shape. This obligation typically involves regular maintenance and repairs to ensure that the property remains functional, safe, and aesthetically pleasing. By adhering to this covenant, the borrower helps to protect the value of the property, prevent deterioration, and ensure that it complies with local housing codes and standards.

While some may view the option of investing in upgrades as relevant, the primary requirement is focused on maintaining the property in its current good condition rather than enhancing it beyond what is needed for upkeep. Allowing for inspections may also be part of standard procedures or agreements related to property loans, but that doesn't define the specific covenant of good repair, which highlights the borrower’s responsibility to actively maintain the property's condition.