Effective Lease Agreements for Landlords
Using legally sound lease agreements is a great way to protect your real estate investments. LegalShield provides a suite of affordable services for landlords seeking legal advice to help navigate landlord-tenant laws.
Protect Your Investments with a Solid Lease Agreement
74.4% of rental properties are owned by individual investors*. Whether you have one property or have built a small real estate empire, it’s important to protect your investments by leasing them to tenants using legally sound written lease agreements.
Landlord-tenant law is different in every state. As such, it’s important that your lease agreements follow the laws and regulations in the local area. Starting with an online template may save money in the short-term, but it leaves you open to liability or unenforceable clauses. The best way to make sure you have the necessary legal protection is to work with a law firm that understands the landlord-tenant laws in your state.
As a LegalShield member, you’ll not only have access to real estate attorney-drafted templates, you get an unlimited amount of phone consultation with a local attorney.
Join LegalShield today and speak with a lease attorney in 4 hours or less.
Six Key Rental Agreement Terms to Include
While lease agreements need to follow local law, there are six key terms or lease provisions that should be included in any rental agreement that can help avoid landlord/tenant disputes.
- Address of the rental unit and the signatures of all adults living in the unit
- The precise term of the tenancy
- Maximum occupancy limits that meet the Fair Housing Act regulations
- Clear statements about the amount, date, and manner of submitting rental payments
- The amount of the security deposit and the terms of its return upon moving out
- The conditions and any penalties owing for early lease termination for either landlord or tenant
For a small monthly fee, LegalShield attorneys in your state are available to review your lease agreement and provide feedback in 3 business days or less.
Have an Attorney Resolve Lease Disputes
Unfortunately, even tenants who have signed airtight lease agreements could damage property or fail to pay rent from time to time. LegalShield is here to help you deal with tenant matters. Here are some important steps to take when dealing with troublesome renters.
- Review the lease and keep records of all your actions and communications with the tenant.
- Know the laws in your state and be sure to meet your obligations as a landlord, including those listed in the lease.
- Send a notice of late rent according to the terms of the rental agreement.
- If the tenant does not respond to your notice of breach, first talk to the tenant to better understand his or her reasons, making sure that you document everything.
- Send a pay or quit notice (the first step in most eviction processes) with legal help.
- File for eviction with help from a lease attorney.
In many states, tenants have substantial legal protections, and running afoul of tenants’ rights can land you in hot water. If you’re unsure about how to handle a tenant issue, join LegalShield and our attorneys can guide you. In more serious situations, your attorney can get involved directly to negotiate a positive resolution.
How a LegalShield Small Business Plan Works for Leases
All LegalShield plans come jam-packed with valuable benefits for legal services. When it comes to dealing with rental property leases, the most common plan usage is in two areas.
CONSULTATION AND ADVICE
You can speak with a landlord/tenant lawyer to get questions answered about the laws in your state and get advice about what you need to include in your lease agreement to protect your investment property.
TEMPLATES AND DOCUMENT REVIEW
You can submit any documents up to 15 pages each and have your attorney provide feedback. Also, you can download an attorney drafted lease template, fill it out and have your attorney make sure you’ve completed it correctly.
You get the best of both worlds. You have the help of an attorney to make sure your lease agreements are legally sound AND you save money.
Key Features of Our Small Business Legal Plans
LegalShield’s business plans can help you in the following areas.
Legal consultation from a provider attorney on business legal matters, with legal research for each issue, if needed to help you better understand your legal rights.
Receive help with business legal issues more efficiently with professional communications issued on your behalf.
Put business-related legal documents through legal review.
A collection letter from a provider attorney could help you recoup payments more efficiently.
