I'm guessing your interpretation is correct.
Sounds like crappy lease terms to me, but I'm just an entitled millennial. IMO, renting a place means the landlord is responsible for maintenance, the tenant is responsible for literally not destroying anything outside of normal wear and tear.
It only sounds reasonable if the place is below market rent and the extra risk placed on the tenant is what balances the equation, and both parties recognize the status quo.
Well, for this forum I'm an old geezer, but feel the same, and how it has always been in my experience; I rent from you and don't harm your home, you as the LL fix what breaks. IMO and experience, it's crazy to expect someone who is renting (don't own it) to pay for repairs/crazy "up to $75 repair comes out of the tenants pocket, I don' want to be bothered with nuisance crap".
Sure, I have bought things that broke in rentals, was reimbursed the cost, and have MANY times fixed minor things for free, including the cost of materials (switch/smoke detector/walkway pads, well parts, faucets, etc.). Heck, I have even diagnosed pretty seriously broken appliances, told the LL of the problem, he provided the part, I replaced the part deducting nothing for my time. My time was free, saved him hundreds of $$$ in service visits, and I have done this in more than one rental. Have also thawed out multiple frozen pipes, gone in the crawl space to close/open foundation vent doors, fixed gutters, etc all for free. I never minded, as there was none of this weasel shit in the lease.
This 10 page lease place I looked at was a real dump; Everything was at least slightly broken, smelled like piss/mildew all over, foot high weeds in a whole length of gutters,
FILTHY inside, dog crap all over the yard, huge open rotted hole in the corner of the roof/eves, roof covered in thick moss, concrete patio busted up with huge holes, with current tenants present while I was there looking it over... Hey, how about after the tenants leave, clean up the place/fix some of the glaring problems,
then show it to new prospective tenants. Damn, this crazy rental market sure gives some LL's giant Eff you balls to ask $950/mo, considering location and condition of your shitbox. lastly I discovered this resistance heated place cost the folks $400+/mo in the winter, with no central A/C, plus you had to share private road snow clearing at some undetermined cost. This snow removal was not even mentioned in the lease, much less its cost. Just south of Lake Erie is no joke when it comes to snow removal, so this last bit of BS, really did it for me.
I have to admit, I'm getting very frustrated...