Does Every Landlord Require a Real Estate Attorney? Why?
Renting a property has always been a great source of income for owners. However, a good property owner always understands that good preparation is the key to making a profit. Working with the tenants is not always easy, there are many challenges in managing the tenants. You have to make difficult decisions in certain circumstances and also follow certain rules and regulations as per the government guidelines.
A person should be aware of his/her rights as a landlord and should know how to protect them in adverse conditions. Not everybody can be an expert when it comes to real estate law. The best option is to take advantage of help of a real estate attorney. A real estate attorney can manage all the tenancy related issues for you like lease agreements, buying contracts, insurance, and documents related to your ownership rights.
Does every landlord require the help of a real estate attorney?
Though it is not mandatory to hire a real estate attorney, it is always advisable to hire one if you are looking to manage multiple properties. The attorney will make sure that there is no burden on your shoulders while managing multiple properties.
There are numerous benefits of hiring a real estate attorney which include both short-term and long-term benefits. Here are some reasons which can help you find the answer to why you need to find a real estate attorney?
Making the lease agreements
There are many landlords who tend to use very general rent agreement documents which sometimes pose problems for them in future. It is necessary to frame an original rent agreement for your tenants in order to protect your ownership rights. A real estate attorney can draft a perfect lease agreement document for you by mentioning all the important clauses. Also regulations change and in some provinces if you do not use the proper forms and clauses it can lead to nullification of the contract.
Eviction of a troublemaking tenant
There are situations when you may want to force a tenant to evict the premises due to different reasons. There are a lot of rules that protect tenants and some of these rules can be taken advantage by a dishonest tenant. If you have the services of a perfect attorney, then you do not need to worry. A real estate attorney can review all the paperwork for you so that you can easily claim your rights. The real estate attorney’s will rely on latest information to evict a problematic tenant.
Property Damage Issues
There are many cases when a tenant causes damage to the premise he/she is staying in. In such cases, as a landlord, you can ask for monetary compensation, if you know your rights. An experienced real estate attorney can review your lease agreement policies and support your claims with proper facts.
Disputes regarding injuries
There are times when the tenants claim that they have incurred an injury due to the actions of the landlord. In such cases, you should have a strong case to deny the claims against you. A real estate attorney is an experienced person who handles such cases very often and can get you out of this trouble.
Not being able to collect rent on time
As per the government guidelines, a tenant should pay the rent on the promised date and a landlord can take legal action against the tenant if he/she fails to pay the rent. There are times when it becomes difficult for you to recover the money from the tenants who fail to pay the rent for successive months. A real estate attorney can really help you in taking legal action against such tenants.
It depends on the mindset of the landlord. There are people who manage their properties on their own, but to play it safe, the best option is to hire a real estate attorney. A real estate attorney can really prove to be a great help for people managing multiple properties.