Maintain your old Siemens Hipath system

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

In The News:

14 Americans allowed on flight after testing positive for COVID-19 on way to airport
Mon, 17 Feb 2020 01:27:00 +0000
Fourteen US citizens who were evacuated from a quarantined cruise ship have been flown home - despite being found to have COVID-19 on the way to the airport.

Britons quarantined on cruise ship over coronavirus angry over 'inaction'
Sun, 16 Feb 2020 10:21:00 +0000
A British couple in quarantine on board a cruise ship in Japan have begged British authorities to get them home, as coronavirus cases on board the Diamond Princess rise.

Japan on brink of recession as coronavirus impact bites
Mon, 17 Feb 2020 09:08:00 +0000
The Japanese economy shrank at its fastest pace in more than five years at the end of 2019 - putting it on the brink of recession as the impact of the coronavirus begins to bite.

UK and EU will 'rip each other apart' in talks, France predicts
Mon, 17 Feb 2020 05:10:00 +0000
Prime Minister Boris Johnson has been warned that he will face a tough battle with the European Union in his efforts to secure a trade deal in the aftermath of Brexit.

Elton John in tears after ending show early due to walking pneumonia
Sun, 16 Feb 2020 11:29:00 +0000
Veteran performer Elton John has apologised to fans for cutting a gig short in New Zealand, after being diagnosed with walking pneumonia.



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