Hey Landlord! Is Your Lease Legal?

The longer you are a landlord the more you strive to create the perfect lease/rental agreement. Landlords learn in the school of hard-knocks that some tenants are certified trouble makers and we try our best to protect ourselves with a carefully structured restrictive lease.

That's just good business.... but be careful you don't include any provisions in your lease that may not be legal. For example...

It would be illegal to include a provision that states the resident agrees not to include his or her lease (the lease on your property) in their bankruptcy filing... should their bankruptcy become necessary.

Bankruptcy laws are Federal.. lease law is state law.

Anyone can file for bankruptcy and invoke all protections afforded to them by the U.S. Bankruptcy Code... including not making lease payments... at least temporarily.

Here's another caution...

It would be illegal for your lease to require that residents be responsible for injuries he or she sustain during the lease term. The law can legally hold landlords liable for damages and injuries caused due to negligence. A landlord cannot contract that away.

How about repairs....

The same would apply to a requirement that the tenant be responsible for all necessary repairs. In every state the law mandates that landlords perform certain repairs to maintain the property and keep it habitable.

Does your lease contain a clause concerning attorney fees?...

Requiring a renter to pay for all of the landlord's legal fees and costs regardless of a court case out come would also be a lease no-no.

Most good leases have stood the test of time and will help you avoid legal problems. Just don't ask tenants to sign it until you have read and completely understand every line of the lease you are using.

You'll find the lease we use here...

http://digbig.com/4ckcd

Mark Walters is a third generation real estate investor who shares his experience from two Web sites... http://www.CashFlowInstitute.com http://www.ThePowerLetter.com

---

The Irish Property Market - Expensive But Worth It?

Lying on the edge of Europe facing out to the... Read More

Real Estate Website Marketing - 5 Steps to Crushing Your Competition and Doubling Your Business

Getting your real estate website more traffic is easy if... Read More

Moldy Homes are a Great Investment

Have you seen this in your classifieds? -"Will pay $$$... Read More

Is It Wise to Take My Home Off the Market for the Holidays?

Let's say you've had your home on the market for... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Essential Buyer?s Guide for Overseas Real Estate

It's been said many a time that overseas real estate... Read More

Get Rich With Mobile Homes

Does the myth that mobile homes depreciate in value keep... Read More

Russ Whitney and Real Estate Investing Gurus

There is curently a huge real Estate boom in America... Read More

Apartment Financing Explained

So you're interested in entering the world of property management?... Read More

Greed Can Cost You Your Shirt!

The proper action when things are going well is to... Read More

Real Estate Tax Incentives

Lower Your TaxesTax incentives for real estate investors can often... Read More

How to Build A Rental Property Money Machine

If you are looking for a steady, income-producing investment that... Read More

Using The Internet In Your Lease Purchase Business

First you need to find a list of For Sale... Read More

Can I Sell My Private Mortgage Notes?

In this country millions of homes are sold every year.... Read More

Real Estate Investing: Sales and Negotiation Skills are Critical

Do you want to build wealth through real estate? You... Read More

Do Bankers, Bubble, Discounters, & Justice Department Cloud Real Estate Industry?

Once relegated to the classified advertising section of the local... Read More

Real Estate: A Strong Investment

Description: Even in uncertain economic times like these, history shows... Read More

A Powerful Suggested Technique for YOUR Home & Property Search

A Powerful Suggested Technique for YOUR Home & Property Search... Read More

Property Investment Strategy: Securing Properties with Little or No Deposit

Property Investing often requires creative strategies to make it successful.... Read More

The Nose Knows

If you plan on getting the most from the sale... Read More

What to Look Out For When Buying Off Plan

Buying Off PlanIt can be difficult to decide when every... Read More

Buying A Holiday Home in Rural Ireland

Ireland has recently witnessed an upsurge in the number of... Read More

10 Home Purchase Abroad Tips For Success

Are you seeking your little corner of sun drenched heaven... Read More

A Simple Step by Step Aproach to Fail Your Way to a Million Dollars

If You want to be Financially Successful you need to... Read More

Find Out If There Are Sexual Predators Nearby Before You Buy A Home or Property!

When looking for a new home or property, buyers ask... Read More

Setting Goals for Real Estate Success

The power of goal setting has been well documented and... Read More

How to Qualify For 90% Plus Commercial Financing!!!

There are three important questions that you must understand and... Read More

Home Staging Strategies

Who are you preparing your home to sell to?You, as... Read More

Dubai or not to Buy? A Short Assessment of the Dubai Property Market

Never has there been such an ambitious and creative drive... Read More

Maximizing Curb Appeal and First Impressions to Sell your Home

We all know that a home or property of any... Read More

Important Information For Condo Buyers

Here is a step by step guide for buyers looking... Read More

Do You Speak Real Estate?

Anyone interested in real estate should be able to talk... Read More

Why Invest In Property?

Why property, some people ask when looking for an investment.... Read More