One of the many aspects of the real estate world is the landlord and tenant relationship. When you talk about real estate transaction, you are usually thinking about home purchasing, home selling, commercial property leasing and financing, etc. However, people can usually overlook the fact that it is also a real estate transaction when a house is rented. In fact, the relationships between the parties involved in such a transaction are more difficult to manage than in any other transaction type.
Asaf Izhak Rubin says that overlooking the importance of a real estate lawyer when you are renting out a house or when you are the tenant can cost you heavily when things go wrong. He also says that these are the types of transactions where things do go wrong a lot so it makes sense for you to seek professional help right at the start of the transaction. Let’s see what more he has to say.
Landlord and Tenant Relationship Is Long
So, think about the situation where you have to buy a house or sell it. You are in contact with the other party during the duration of the transaction. However, once the documents have been handed over, the money has been transferred, and the agents have been paid, you are done. You don’t have to be in contact with the buyer or the seller. However, that’s not the case with a rental relationship. You rent a house and then you have to live in that house, constantly connected to the owner of the house. This means, things can go wrong and they do go wrong as time passes.
Asaf Izhak Rubin thinks that a lot of completely overlook this nature of the relationship between a landlord and a tenant. So, before things go wrong, you have to make sure you hire the right type of lawyer.
Rental Issues Can Be Vague
Another thing that really complicates things in a rental agreement is that a lot of the stuff is pretty vague. You really don’t know which responsibility belongs to whom. For example, if you are living in a rented house, should you get the house painted or is it the responsibility of the landlord? Should you be fixing issues with the roof or the door handles that are coming out with the passage of time? You can’t really draw a clear line in these issues unless you have everything clearly defined in the agreement. Even when you have things defined in the agreement, people have ways to go around those clauses.
Having a real estate lawyer on your side means you will not be paying for things that the other party is supposed to pay for, says Asaf Izhak Rubin. If something is not your responsibility, you should not spend your money on it. Have these things clearly defined and involve a lawyer so everyone feels the need to abide by the rules.
Tenants Have Many Rights They Don’t Know
If you are a tenant, you might think that the landlord of the house owns it and so you don’t have enough rights. However, in certain states, you have more rights than the owner of the property. In other words, they can’t just throw you out of the house for no reason. Furthermore, even if they really need the house vacated, you have the right to fight the case and stay for a specific and pre-defined time. You might not know these rights but your real estate lawyer can definitely guide you on everything. Once yo know your rights, you can live in peace.
Legal help in any matter in life should not be taken for granted. You might think it will cost you a lot upfront, but the reality is that when things go wrong and you don’t have a lawyer, the whole fiasco could cost much more than that. Botched real estate transactions can empty your bank account. So, make sure you have someone to help you legally when things don’t go the way you desire.