If you decide to rent the property, you will be responsible for keeping the unit in safe and habitable condition, making repairs, selecting tenants and collecting rent from tenants. Once a property is leased, the tenant has a right to use, occupy and enjoy the premises in accordance with the lease or rental agreement. A written lease which clearly sets out the duties of both the landlord and the tenant provides the best protection for both parties. Your actions as a landlord are controlled by the terms of the lease and applicable federal, state and local law. There are a variety of books available at book stores and libraries which describe in general terms the advantages and disadvantages of becoming a landlord. You might also wish to consult with an attorney or real estate agent, experienced in managing rental property, for help in drawing up a lease and understanding a landlord`s rights and responsibilities.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified landlord tenant lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local landlord tenant attorney to discuss your specific legal situation.
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