Your rental agreement is the one instrument that protects you the most and keeps you out of trouble when it comes to your relationship with your tenants. One of the things I always advise strongly when property owners are putting together rental agreements is to have a qualified attorney take a look at the agreement, or help you write it. The lawyer who reviews your rental agreement must specialize in real estate law so that everything is current and covered in your agreement.Watch Full Movie Online Streaming Online and Download
I have seen rental agreements that are two pages long and rental agreements that are over 29 pages long. Both lengths can still be inadequate and missing key information. It doesn’t matter how long the agreement is, what matters is that all of the pertinent clauses and language are included. It is extremely important to have a lawful agreement that has been approved by an attorney. This kind of detail protects you and it also protects your tenants.
Protection from a lawsuit is paramount when you are getting into the business of renting out your personal property in Concord. It will keep the lines of communication open between you and your tenants, and everyone will know what is expected and permitted. There are several complex and ever changing laws that you need to be aware of. For example, your rental agreement has to comply with Fair Housing Laws, which are so involved that I could spend half an hour or more talking about that subject alone.
Something that is helpful to remember is this: the way you enter into a contract with someone is usually a good indicator of how things will be settled in a courtroom setting if a problem or dispute means that your relationship comes to that. If you have everything covered in your rental agreement, you will not have to worry about being on the wrong side of any legal disputes.
The rental agreement really goes hand in hand with the move in and move out process, your inspections, disclosures, information about lead paint in the property, inclusions and everything else that a thorough and complete rental agreement will include. Instead of drafting the agreement yourself, make sure you pay attention to every detail and have a qualified attorney who specializes in real estate law help you draft it. In addition to having an attorney help you write the agreement, make sure you get a complete legal review of your rental agreements on an annual basis.
If you have any questions about rental agreements or anything else pertaining to property management, please contact us at Total Property Solutions.