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24 Comments on Greed Is Legal – But It Doesn't Make A Lease Valid.
KUDOS for pointing out that there are no STANDARD lease forms eventhough many landlord or property managers may be using pre-printed forms...
I recommend that all tenants verify who the owner is in the public records. Then verify that the person signing the lease and giving you the keys is that person - ask to see a picture ID. And if a property manager ask to see their real estate license and proof that they have an agreement with the real owner. So many scammers out there stealing money from tenants who simply don't know any better.
Great post! This should be a MUST READ for any landlord or tenant before agreeing to the terms of the contract. Too many times landlords don't know the law and tenants don't know their rights.
Hi Gabrielle, we agree. We quit an investment group after one of the leaders suggested two different contracts depending on whether you were the seller or buyer - in others words to take advantage!
It is best to use a trained property management company if you are unsure.
Hello Gabrielle:
I have been doing more rental work here in Sun City Texas since many buyers want to "try before they buy". In many cases this ends up with the tenants becoming purchasers, so a nice pipeline of business.
When I get involved in a lease I only use the standard form promulgated by the State of Texas Association of Realtors and no other. It is fair, balanced, and protects both parties in case something goes wrong. Glad to see this was featured.
Great post and lessons about the rules and the law. Every state has different laws, rules and regulations so before you explore tenant opportunities, some research on the laws, rules and regulations should be researched, shouldn't it?
Tenants moving from one state to another should be sure to check the laws in their new state - as they might be different from the ones in their old state.
Great advice. One thing is to always understand what you are signing. Problems won't arise if you know what you can or cannot do.
We have a paragraph in the 'buy it off the shelf lease' that states the landlord cannot be sued. In IL, that is against the law or unenforceable because you cannot write that you cannot sue anyone. Most times it's in every standard lease that we use & we just leave it there so we aren't practicing law.
Gabrielle...this is great advice. I have talked until I am Blue in the face that the University here should make Renting 101 a mandatory class. I see so many students get taken advantage of.
Gabrielle - great advice! I don't handle tenants, so I don't have good stories, but I know of them...
Great tips on leases and landlords. Good post.
I was asked to review a lease recently that claimed it was illegal to move out at any time with out the landlords written permission. This from a professional management company.
This was one of the tamer clauses.
Bill
Good afternoon Gabrielle. The law is pretty much the same here in Florida. One boo boo doesn't invalidate the rest of the contract.
I second Rob's advice on rentals. There are so many crooks renting properties they have no right to rent, that it pays to check things out thoroughly. Also, many people are renting out homes and not making the payments to the bank, so renters are being kicked out after the foreclosure.
Gabrielle - This is great advice to anyone looking to rent. Thanks for the post!
When it comes to renting stuff I trust Wallace. I suspect the rental market is so tight that rentors have to settle for lots of stuff - but it should be legal.
Some Landlords are creeps. Tenant Laws in Oregon counter that. They are heavily in favor of the Tenant.
Good points, nice concise and to the poiint with great information. I sell real estate but I don't know a ton about leasing and even have two rentals that I do not manage myself, we hired professionals. -Kasey