Purchasing real estate and taking on the role of a landlord is just one of many business ventures you could choose in life, and one full of management challenges. Such an endeavor is unique in that you are providing those in need with a place to live or run their business, in exchange for rent and their agreement to abide by the rules in the lease you offer for their signature in the beginning. This type of ‘business’ is different in that the renters hardly seem like customers or clients, and the effort you must put forth varies. With other tenants, you may experience one or more of these challenges:
- Creating an airtight lease – as most of us know, contracts are often just made to be broken. With the help of an experienced real estate attorney, however, you can create a comprehensive real-estate lease that protects everyone, is enforceable in a court of law, and ensures that all involved understand what is expected of them.
- Keeping the peace – if you are the landlord of an apartment building or several residences or businesses close together, you might have the unpleasant experience of feeling like the stressed-out parent to a bunch of bickering kids. There are many reasons that discord may break out among tenants. In residential areas, neighbors may be unhappy about the untended yards of others, pets that bark excessively or become pesky for any number of reasons, issues with easements, noise levels, and a multitude of other issues. In commercial rentals, tenants may be upset over parking, cooking odors, customers lingering around, trash problems, as well as business competition if one tenant begins offering a service like their neighbor’s.
- Collecting rent – finances are usually one of the most difficult areas to deal with in rentals as tenants may be late on rent, balk at late fees, or just stop paying
- Maintenance and damages – in a rental situation, everyone needs to work together to make sure the property stays in good order. The rental lease should outline who is responsible for what in terms of maintenance, and how any damages will be handled. If you do not handle maintenance issues as expected, you may find yourself without tenants or recourse for back rent—and legal action could even be filed against you. The same goes for tenants who leave the rental space with damages that have not been reported or paid for. If they have moved and are unresponsive to communication, hopefully the security deposit would be enough to cover any harm to the rental.
- Evictions – while so many landlord/tenant issues can be stressful and challenging, having to evict someone can be the worst. They may have broken the lease agreement over unpaid rent, housed pets that were not allowed, caused excessive damage to the property, or other issues, but once you’ve decided to evict them, the follow legal procedures should be followed with the help of an attorney experienced in landlord/tenant issues, as well as dealing with any abandoned property
Are you in the middle of a landlord/tenant dispute, or do you need help creating or negotiating a commercial or residential lease? Call Shane Coons now at 949-333-0900 or email us at Shane.Coons@seclawoffices.com. We can review your needs for creating a contract, answer your questions, and help you decide how to move forward. We are here to help!