In the current world of technology, landlords have become increasingly comfortable with using and signing ready-to-use online forms, without consulting an attorney or considering that standardized forms may not adequately protect their interests or comply with local laws. While this may initially save time and money, failure to understand and customize the terms of a lease agreement may result in costly legal disputes. Having an attorney review a lease agreement is an investment in your legal and financial interests. Whether you have a lease agreement that you have previously used or are considering hiring an attorney to draft a new lease, below are five benefits of having an attorney review your lease agreement.
Tailored Agreements to Protect Your Rights
Every leasing situation is unique, and online or standard forms can be inadequate. An attorney can tailor or draft your lease agreement to ensure that your interests are protected whether your lease is for a commercial property or residential property.
Clarification of Processes
Many ready-to-use leases generically cover essential terms such as security deposits, rent payments and lengths of tenancy. However, different jurisdictions have specific rules that prohibit, restrict and require landlords to act and refrain from acting in certain manners especially when addressing evictions and maintenance. An attorney can help you draft, decipher and choose the proper language to ensure full understanding of your rights and obligations in leasing a property.
Ensuring Legal Compliance
Because landlord-tenant laws and regulations can vary by county or city, it is important to determine which jurisdiction your property is located in and which laws and codes apply. An attorney can help ensure that a lease complies with relevant local, state and federal laws and regulations.
Protecting Your Financial Interests
Failure to comply with local, state and federal laws and regulations can result in exposure to expensive fines and other legal consequences. Working with an attorney can help you avoid these costly mistakes.
Preparation for Potential Disputes
Lease agreements should outline the dispute resolution process in a way that is understandable for all parties. While no one anticipates a landlord-tenant dispute, disagreements may arise, and it is important to know your resolution options. Whether you decide to include mediation, arbitration, or a litigation provision, an attorney can guide you through understanding the differences, benefits, and disadvantages of each.
Let Us Help. Considering drafting or amending a lease? Seeking legal advice is a strategic and sound step to ensure that your agreement is legally binding and enforceable. For more information or to request a consultation, please contact our offices via email or phone.